Transforming Verification: Embrace the Future with Agentless Video KYC

Customer verification without an agent? Sounds like a myth, right? Not anymore. Agentless Video KYC is ready to transform the landscape of customer verification. Leveraging Artificial Intelligence, it automates the KYC process, eliminating the need for a human agent. Traditionally, RBI-mandated Video KYC requires agents' involvement, making it an operationally intensive and costly process due to the necessity of setting up and managing call centers.

However, the Reserve Bank of India (RBI) has recently announced its latest initiative—testing an unassisted Video KYC (VKYC) solution within its regulatory sandbox. This move not only addresses the challenges of traditional VKYC but also holds the potential to revolutionize how financial institutions conduct customer verification. What does this mean for the industry, and more importantly, for your business?

Agent-less Video KYC—Sounds intriguing, right?

At Perfios, we’ve been closely monitoring the latest developments in the customer verification landscape, and we’re excited to share that we’ve developed our own Agentless Video KYC solution. By leveraging AI, our solution automates the verification process, eliminating the need for a human agent. This innovative approach not only addresses the challenges of traditional VKYC but also aligns with the forward-thinking initiatives being explored by the RBI 

Why Make the Switch to Agentless VKYC?

• 24/7 Availability: Agentless VKYC provides round-the-clock access, addressing the limitations of traditional agent-based VKYC, which is restricted by agent availability.
• Improved Call Connection Rates: By eliminating issues related to "No agent available," agentless VKYC can boost call connection rates by an average of 10%.
• Better Customer Experience: Delivers an intuitive, end-to-end self-service experience, removing the wait times typically associated with agent-based video call connections.
• Language Flexibility: Supports journeys in the customer's preferred language, mitigating the 2-3% failure rate in traditional VKYC caused by the unavailability of specific language options with relationship managers.
• Enhanced Security: Utilizes advanced fraud detection and data protection measures to secure the process and effectively prevent deepfakes.
• Cost Efficiency: Lowers costs by eliminating the need for large call centers, thereby reducing operational expenses. This optimized approach streamlines capacity management compared to traditional VKYC processes.
• Regulatory Compliance: Maintains full compliance with existing regulations, ensuring high standards of verification and security, just like traditional VKYC.

So, What’s Next?

If you’re looking to explore unassisted journeys for other use cases, we’ve got you covered. At Perfios, we’ve developed an unassisted VKYC journey that can be tailored for various applications, incorporating deeper checks to ensure compliance and security.

Join the Conversation

We’re excited about the future of VKYC and would love to hear your thoughts. Drop a comment below if you’re curious to learn more about how unassisted VKYC could be integrated into your business. Together, let’s explore the possibilities and lead the way in transforming customer verification.

About Perfios: Perfios Software Solutions is India’s largest SaaS-based B2B fintech software company enabling 1000+ FIs to take informed decisions in real-time. Headquartered in mumbai, India, Perfios specializes in real-time credit decisioning, analytics, onboarding automation, due diligence, monitoring, litigation automation, and more. 

Perfios’ core data platform has been built to aggregate and analyze both structured and unstructured data and provide vertical solutions combining both consented and public data for the BFSI space catering to their stringent Scale Performance, Security, and other SLA requirements.

You can write to us at connect@perfios.com

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