V-CIP
Signzy systems have been designed for banking grade technology. This means that they meet the strictest infosec regulations and data security requirements. Signzy Video KYC is being used to onboard thousands of customers every month by SEBI regulated institutions. This solution has matured over dialects, browsers and low-internet scenarios.
With RBI’s progressive move to bring Video KYC (Video Customer Identification Process) 2020, we look forward to onboarding RBI regulated institutes on our battle-tested solution.
Features
Real-time PAN verification
Matching face on ID with face in video (with % confidence score)
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Unlimited video storage and instant retrieval
Geo-location capture and IP check
Seamless and interactive UI for live video interaction
End-to-end encryption for video, channel, and communication
Video forensics for pre-recorded risk and spoof detection
Digital forgery check on the displayed ID proof
Customer identity verification through offline Aadhaar XML
Time stamp and audit trail for every application and video interaction
Compliance to Regulatory Mandate
Video KYC Regulations
Measures
Video KYC Regulations and Measures
“Official of the RE performing the V-CIP shall record video as well as capture photograph of the customer present for identification”
• Auto image capturing
• Real-time Verification
“RE shall capture a clear image of PAN card to be displayed by the customer during the process”
• Consent declaration
• Document upload option
“Consent based audio-visual interaction with the customer to obtain identification information including the documents required for CDD purpose”
• Consent declaration
• Document upload option
“Live location of the customer (Geotagging) shall be captured to ensure that customer is physically present in India”
• Image classification and Appropriate UX
“Ensure that photograph of the customer in the Aadhaar/PAN details matchesg with the customer undertaking the V-CIP”
- • Face Match of Video with ID card
Signzy Solution Benefits
Higher Application Accuracy
Plug and Play solution, swift Go-To-Market
Comprehensive Training Program
Competitive Advantage through customer delight
100% compliant with latest RBI Mandate
Exponentially increase Scale of Operations
Reduced back office overheads (upto 70%)
Reduction in customer Drop-offs (upto 50%)
Platform Agnostic, support multiple communication channels
Signzy’s Video KYC Journey
In 2016, a company of 5 people presented a video onboarding solution at an RBI sponsored competition among large banks like SBI and HDFC. To everyone’s surprise, we won that competition for our seamless onboarding using Artificial Intelligence. All the bankers at the event told us this was too futuristic and not practical. We won the award, but no customers.
Now, in 2020 RBI has notified rules for V-CIP. This is a monumental step in our journey and validates the vision and belief with which we kept building products for 4 years which did not seem relevant in the present.