Noncompliance with KYC helps fight money laundering by enabling banks and financial organisations to authenticate their customers, track transfers, and monitor where their money is coming from and going. Video KYC compliance pulls back the cloak from illicit activities and exposes them to the local authorities. Money laundering organisations transport funds that are illegally gained through criminal activities such as drug trafficking, human smuggling, and cybercrime. They do this by smuggling large amounts of cash.
KYC verification service is a process that financial institutions and NBFCs use to verify the identity of their customers online. This process usually requires customers to submit proof of identity and address, which helps organisations to better understand who they are dealing with and reduce the risk of online identity theft. Additionally, by having a more transparent and organised onboarding process, businesses can increase customer satisfaction and loyalty.
FIs frequently aren't aware of the information they gather during onboarding.
They may be unable to develop accurate customer profiles as a result of this information gap, which may also
affect their ability to do other risk management tasks. A better understanding of what is being collected and
how it can be used can help FI businesses improve their operations. Establishing a strong onboarding procedure for customers.
Financial institutions can build reliable client onboarding pathways and boost the audit efficiency of digital onboarding processes,
both of which aid in FI compliance. This is done by confirming the identities of customers.
The prevention of money laundering, data security, and risk reduction associated with financial crime all depend on video KYC verification services.
Instantaneous identification verification using IDs -PAN card, Aadhaar, Voter’s ID, Passport, etc.
You can perform each customer-facing KYC verification check using Pixl's unique Front End as a Service without ever leaving your website or app, guaranteed.
Validating bank statements – from three months before- for salary verification
Our two-way Rest API naturally enables real-time two-way communication and streamlines the development process without the need for an expensive integration approach, saving time and resources compared to building and deploying hundreds of operations.
Our app is designed to be easily branded with your own logo and colours, or integrate our services within your existing app. We can also create a custom app for you quickly and easily, with remote facial recognition and document verification.
Our bulk upload feature enables you to mass-import users by supplying ID codes. Users experiencing more control or requiring frequent checks or user-initiated export verifications will find this service useful.
Due diligence is used to shorten the time spent onboarding and monitoring clients on our one platform. Compliance processes are also carried out so that other checks are carried out automatically. Increase identification verification security, stay away from fraudulent new identity documents and keep up with identity verification legislation updates.
Use a permission management strategy to enable customers to continue being registered with a platform so that they can remain compliant with applicable laws. Protect your organisation against fraudulent activities.
Customer onboarding process and monitoring include e-KYC, identity verification service, ID verification, liveness, biometric tests, document verification, and many other checks, including address, visa, phone, IP, e-mail, and many others. With pixl identity document verification technology, you can authenticate identity documents that are legit and compliant.
Our one-of-a-kind Front End As a Service (FEAS) enables you to onboard customers without any breakage to your user experience and flow. Customise within minutes with your own logo, style elements, and language.