How Live Assisted Video KYC Compares with Traditional Identity Verification

Published by Merryl Dusaran on February 7, 2020

The identification and verification process that the live assisted video KYC provides is indeed fast. This decreases the number of customers backing away from the onboarding process. Moreover, live assisted video KYC prevents document loss and enhances the digital user experience.

Why Lenders and Insurers Shouldn't Fully Rely on Digital KYC Checks

Why Lenders and Insurers Shouldn’t Fully Rely on Digital KYC Checks

Lending and insurance firms comply with KYC and AML rules to prevent fraud and money laundering. They collect customer data, analyze and verify it. They need to know who a customer is, their economic background, and if it’s legal to do business with them. For them to conform with regulatory bodies, they welcome Artificial Intelligence (AI) into their business. With AI’s ability, they can rapidly evaluate the worthiness of the borrower’s credit and mitigate risk cost-effectively.