As COVID -19 has punched globally, we are on the way to break the chain of Corona virus spreading.
Read MoreThe boom in technology hasn’t touched some areas of Fin-tech organizations.
Read MoreAs a normal KYC procedure, all the finance-related institutions used to record the data of every new customer who opened an account with them.
Read MorePixL.AI helps the banks in achieving their aim of getting the Video KYC done through PiXL Video KYC.
Read MoreThere were directions from the Reserve bank of India regarding the KYC entries.
Read MoreBanks and other traditional financial service providers have had to respond with an array of digitization and innovation initiatives.
Read MoreIn 2021, banks were at the forefront of the pandemic-accelerated digital transformation. This increased customer expectations, which in turn necessitated the need for banks to transform their business models.
Read MoreKYC is a process that financial institutions use to identify and verify the identities of their customers. This verification can help banks fight money laundering and terrorist financing. By identifying suspicious activities, KYC can help banks prevent criminals from using their accounts to launder money or finance terrorism.
Read MoreBanks and other financial institutions have strong KYC procedures in place to ensure that their clients are not involved in money laundering or the financing of criminal activities.
Read MoreThe customer's documents must be uploaded to the bank's system in digital KYC. The bank has its automated software with the help of which the documents get scanned and the data automatically enters into the desired fields in the system.
Read MoreWith an increasing number of technology-driven products and services being introduced to the market, the overall customer experience and engagement with companies has changed dramatically. More than ever, today’s customers are looking for intuitive applications and processes that can be completed within a few clicks. All digitally, of course.
Read MoreIn recent years, technology has revolutionized the way we live our daily lives. From the way we communicate to the way we shop, and even the way we drive, technology has drastically changed the way we function.
Read MoreAI is rapidly transforming the banking industry. With its ability to process vast amounts of data and make complex decisions, AI is delivering bank-level assistance that was once the exclusive domain of human experts.
Read MoreIn recent years, technology has revolutionized the way we live our daily lives. From the way we communicate to the way we shop, and even the way we drive, technology has drastically changed the way we function.
Read MoreAn Electronic bank guarantee document is a digital record or electronic document that represents the electronic bank guarantee issued by a financial institution. It contains all the essential details and terms of the guarantee, including the beneficiary's information, the specified amount, the conditions under which the guarantee can be invoked, and the expiry date.
Read MorePassports are considered ideal for identity verification in India for several compelling reasons. First, they are government-issued and require thorough background checks, making them reliable for identity verification. Passports have lots of information about a person, like their name, photo, birthdate, and unique passport number, which makes it easy to confirm their identity. They also have biometric data, like facial recognition features, that can be used for advanced identity verification.
Read MoreRe-KYC, or "Re-Know Your Customer," is the process by which your KYC information is reviewed and updated at regular intervals. Think of it as an essential health checkup for your financial identity. Its purpose is to ensure that the information your bank has on file is not only accurate but also current, aligning with the latest regulatory requirements and reflecting any changes in your personal profile.
Read MoreOKYC, short for Offline Know Your Customer, revolutionizes the way banks and financial institutions confirm the identity of their customers by using the power of Aadhaar. Aadhaar, a distinct 12-digit identification number, is administered by the Unique Identification Authority of India (UIDAI) and is allocated to every Indian resident.
Read MoreThe National Highways Authority of India (NHAI) is making waves in its digital transformation journey with the announcement of its decision to embrace electronic bank guarantees (e-BGs). This strategic move not only reflects NHAI's commitment to modernization but also promises to streamline and enhance the ease of doing business with this influential organization.
Read MoreICR is useful for organizations that handle extensive paperwork daily, including those in finance, legal, and healthcare sectors. In these industries, efficient document management is critical for maintaining precise consumer records, demanding impeccable data accuracy. ICR emerges as a straightforward solution to error reduction, simultaneously optimizing time and human resource utilization.
Read MoreIn the realm of modern technology, Gen-ai, a cutting-edge iteration of artificial intelligence, has emerged as a powerful force transforming numerous sectors, including the intricate world of recruitment and hiring processes.
Read MoreImagine transforming the pages of a dusty old book or a handwritten medical record into digital text effortlessly. That's precisely what Optical Character Recognition (OCR) and Intelligent Character Recognition (ICR) technologies do
Read MoreDeduplication involves the identification and removal of duplicate or redundant data within a dataset. This practice is especially valuable in scenarios where data replication occurs, such as during backups, file storage, or within databases.
Read MoreAadhaar Authentication API is a web-based interface that enables applications to verify the identity of individuals by sending a request to the UIDAI's Aadhaar Authentication Server. The request contains the individual's Aadhaar number and other relevant information, such as their demographics and biometrics.
Read MoreAs businesses accumulate vast volumes of data, the challenge lies in ensuring the accuracy and reliability of this information. CRM deduplication—a strategic process that goes beyond the surface, offering a sophisticated solution to enhance data precision and elevate your business to new heights.
Read MoreIn recent years, the Indian government has implemented the use of Aadhaar numbers for various services and transactions. However, with the increasing concerns over privacy and security, the concept of redacted Aadhaar number has emerged. In this guide, we will explain what a redacted Aadhaar number is and why it is important.
Read MoreData capture is the process of gathering and storing information from various sources, including physical documents, digital forms, sensors, and online interactions. It's the crucial first step in transforming raw data into valuable insights.
Read MoreDatabase deduplication, or deduping, is the process of identifying and eliminating duplicate records or entries within a database. This involves comparing data entries and removing redundant information to create a more streamlined and efficient database. The primary purpose of deduplication is to enhance data quality by ensuring accuracy, consistency, and completeness.
Read MoreThe mutual relationship between Customer Due Diligence (CDD) and Know Your Customer (KYC) plays an important role in preventing financial crimes like money laundering and terrorist financing. KYC serves as a system employed by financial institutions to authenticate and find out the identity of customers, calculate their risk profile in the course of delivering financial services. Conversely, CDD involves gathering and scrutinizing pertinent information about a customer to assess the inherent risks associated with engaging in business with them.
Read MoreIn every company, the Accounts Payable department plays an important role in ensuring smooth financial operations. At the heart of this function is Invoice Data Capture and Processing, a vital process that involves extracting key data, including invoice number, supplier details, address, and amount, from invoices. This extracted information undergoes a meticulous validation process before being uploaded to an Enterprise Resource Planning (ERP) software.
Read MoreDigital id verification involves the verification of online identities to ensure the existence of individuals with digital personas. This process authenticates the claimed identity, investigates reputation, and serves to prevent fraud, manage risks, and ensure compliance.
Read MoreLearn how this innovative approach helps businesses identify and understand their customers on a deeper level. Drive targeted marketing campaigns and boost customer engagement with VCIP.
Read MoreImagine having an assistant that sifts through stacks of resumes with lightning speed, extracting vital information about candidates. That's the essence of a Resume Parser. It's a software tool designed to analyze, interpret, and categorize data from resumes, making the hiring process more efficient
Read MoreLiveness detection stands as a security checkpoint, using algorithms to verify if a presented biometric sample (think fingerprint, iris scan, or selfie) originates from a living, breathing human rather than a cunning imposter. This technology shields systems from "presentation attacks," where fraudsters attempt to fool the system with masks, photos, or videos.
Read MoreKYC is crucial because it serves as a foundational component of risk management and regulatory compliance, especially within the financial sector. By verifying the identity of customers and understanding their financial activities, businesses can mitigate various risks, such as fraud, money laundering, terrorist financing, and identity theft.
Read MoreLicense Plate Recognition, often abbreviated as LPR or ALPR (Automatic License Plate Recognition), is a technology that utilizes optical character recognition on images to read vehicle registration plates.
Read MoreLooking for a faster, more secure way to complete your KYC requirements? Video identification offers a simplified solution, with real-time verification via an agent-assisted video call. Dive deeper into the Video KYC process and its applications – read on!
Read Morewhat is Digital KYC, How does Digital KYC work, Types of Digital KYC, Benefits of Digital KYC and the Digital KYC Verification process
Read More