A live photograph is captured in the video phone and cross-checked with the photograph uploaded previously. Some banking companies may possibly use facial recognition technological innovation for this affirmation.
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The Video KYC process normally features doc verification, facial verification, and geographical checks to make sure the consumer’s spot and identity. The process improves safety and lowers the need for in-particular person verification.
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Though Video KYC provides quite a few benefits, There's also various problems that financial establishments may perhaps confront when applying the technological know-how. These difficulties include things like:
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