PAN Verification Overview PAN verification is a simple and robust way to verify the genuineness of a PAN card. For those of you who are new to a PAN card, it is the equivalent of Tax ID number issued to citizens and businesses of India. The PAN card, which is ten characters (alpha-numeric) in length, […]
Following the footsteps of RBI, SEBI and IRDAI, PFRDA on 06 October 2020, has decided to allow registered intermediaries with PFRDA to onboard, deboard or provide essential pension services to subscribers via Video based Customer Identification Process (VCIP). The regulator asserts that this will greatly benefit both the intermediaries and the subscribers from faster verification, […]
Video KYC (V-CIP) is not the same thing as stitching a video chat interface to your customer onboarding process. It is a profound organizational change. And each organization will go through a period of doing it wrong, not doing it wrong but not doing it right either, and finally doing it right. We are here […]
In the midst of an unprecedented crisis, it is emerging that the future can never really be anything like the past. With physical movements restricted and much less desired, financial institutions must rethink ways to onboard their customers safely and securely. On 09 January 2020, the Indian financial regulator made a remarkable amendment to the […]
Following the comprehensive Video KYC FAQ, here is a quick summary of how to deploy the Video KYC solution into your client onboarding flow to remain compliant with the steps specified by the regulator. The Video KYC process can be split into three pillars (Before, During and After) taken from the V-CIP process defined in […]
Digital Identity Verification: By diverse means, we begin to understand the depth of the problem and its cure.
Identity verification seems like a natural casualty of the times. From a friendly application to a friendly nod from the Banker, the account opening steps have been turned on its head for a generation, maybe more. People scorn at the sound of paperwork and identity proofs, and for good reasons. World Bank’s Findex suggests that […]
International Revenue Share Fraud (IRSF) accounts for about $10.7 billion in fraud losses. Losses are up by 497% from previous year. This case study highlights the fact that there is no operator who is immune to IRSF attack. And prevention is the best form of cure as there is no cure for this malicious attack.