July 22, 2024

KYC Video Solution | An Innovative ID Verifying Service

  • July 11, 2024
  • 4 min read
KYC Video Solution | An Innovative ID Verifying Service

COVID-19 provided a landscape in which companies practiced remote business processing. Although the pandemic is over, organizations are using digital means and remote processes for their business work. Now, companies onboard entities digitally from all over the world. However, it also requires up-to-date security measures to secure businesses from cyber attacks. Criminals keep on updating their fraud strategies with ever-growing technology. Know Your Customer (KYC) serves as the best solution to prevent financial terrorism, cyber-attacks, and data loss. Now companies utilize video KYC solutions to have a more precise and reliable identity verification service. 

What is the KYC Video Verification Service?

Video KYC refers to customer identification service, which involves innovative techniques of live user verification. Coamoneis holds online meetings with various platforms such as Google Meet, Zoom, and Teams for remote business relations. Video identity verification is an innovative service that is more reliable because of its higher accuracy rate. It involves machine learning technology and verifies users in real time for up-to-date security measures and real-time business success. Automated checks of ML provide risk management service and help verify entities during live interviews and video calls. Additionally, biometric authentication checks allow real-time face verification and spoof detection for real-time business success. 

Steps Involved in Video-Based KYC Online

The video KYC process may involve an agent for user authentication or automatic checks. Process, where companies involve KYC agents, helps them check users on video calls and in live interviews. KYC agents ask users to perform various activities such as random motion and biometric face scanning. Live detection of the user’s face helps to eliminate the risks of deep fakes and spoofing. The agent may ask users to show various UID documents in a video call. 

In automated processes, pre-trained artificial intelligence algorithms detect user details and verify them through distinct procedures. Automated algorithms perform autocross checking of information and validate it. Additionally, these checks allow companies to detect user risk potential. Companies using KYC verification services are close to legal security, trustworthiness, and enhanced user experience.

Required Information For the KYC Video Verification Process

Companies collect user information for the KYC process as per the service requirements. It may involve user liveness detection, selfie verification, and ID document checking. 

For the liveness detection service, companies ask clients to face cameras on facial scanners and detect their biological traits through deep learning technology. Users are often asked to submit selfies, which are analyzed through deep learning technology for their real-time authentication and identity verification. It enables companies to verify user details and eliminate the risk of spoofing and deep fakes. Many criminals use machine learning technology and generate fake images that human eyes cannot identify. Sharp artificial intelligence detectors enable companies to inspect fake IDs and enhance their security against future complications. 

What are the Two Main Strategies Of the Video KYC Process?

KYC through video calls is a highly effective and innovative solution. It enables companies to detect possible fraud risks in a short time. Companies can utilize a video identification process for both live calls and interviews. Additionally, it can also analyze recorded videos through artificial intelligence checks. 

During the live interviews, KYC agents converse with users and verify their verbal information with data in ID documents. In automated service, cameras capture the user’s face during document submission. Automated checks provide identification of fake entities. KYC process works for user ID validation with the help of deep learning technology. It enhances organizational competency in this age of digitization. 

Why Do Companies Use the KYC Video Process?

Organizations must adopt innovative modes for their competency. Now, businesses onboard users from worldwide and enhance their landscape for more success. Digital ID verification solutions such as video KYC are vital in developing secure business relations. The video KYC process involves automatic identity verifiers in the form of digital document checking, biometric face verification, and live detection. It allows companies to reduce manual workload pressure and provide digital services for enhanced security and real-time success. KYC video authentication checks eliminate fraud risks and allow businesses to have up-to-date security measures. 

Final Words

Companies utilize modern and digital solutions in the form of KYC video identification. It enables firms to overcome fake documents and forgeries and develop a secure business relationship worldwide.  Companies verify users remotely with enhanced security measures and adopt reliable ID authentication solutions. Pre-trained algorithms in this process allow quick authentication and verification of user data. KYC verification automated checks allow companies to detect risk potential in a few minutes. The whole process involves 5-10 minutes and verifying details through automated algorithms. 

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Ethan Lewis

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