Liveness detection
Document verification
Facial verification
Pixl Re-KYC solution verifies and updates customer information quickly and efficiently.
Re-KYC is the process employed by banks to verify and update a customer's information, including documents and contact details, originally collected during the opening of a bank account, ensuring that it remains current and accurate.
Banks do Re-KYC to ensure the information they have about their customers is accurate and current. They check things like documents, contact details, and addresses. This is done regularly as per RBI rules. Banks need to be careful and consider the level of risk when doing this. The RBI guidelines say regulated entities should regularly update KYC using a risk-based approach.
For high-risk customers, KYC should be updated every two years. For medium-risk customers, it should be updated every eight years. And for low-risk customers, it should be updated every 10 years. ReKYC can be done digitally to make the process easier and ensure accurate data updates.
Liveness Verified
Confirm and refresh essential customer data, including identification details, contact information, and financial records.
Simplify KYC procedures, reducing paperwork and manual effort while ensuring regulatory compliance.
Revive and re-engage with inactive customer accounts to maximize business opportunities.
Implement automated systems to seamlessly refresh customer information, reducing the need for manual intervention.
Employ tailored workflows that match the specific needs and preferences of individual customers.
Facilitate the process of appointing nominees for customer accounts, ensuring smooth succession planning.
Enable customers to efficiently modify their Demat (Dematerialized) accounts, which hold securities in electronic form.
Maintain the precision and correctness of customer information to enhance decision-making and regulatory compliance.
Provide customers with a digital method to close their accounts, ensuring convenience and efficiency in the process.
Keep all customer databases and records up-to-date to ensure accuracy and compliance in all business operations.
Ensuring the accuracy of customer data is a critical task that involves systematic checks and updates to maintain the integrity and reliability of information within a database or system. This process typically includes thorough examination and validation of customer details, such as contact information, preferences, and transaction history.
Digitizing Know Your Customer (KYC) processes is a game-changer in the financial world. By using advanced digital tools, institutions can make KYC procedures faster and more efficient, ditching the heavy reliance on paperwork. This shift not only boosts operational efficiency but also aligns with environmentally friendly practices.
Empowering customers to update their information through tailored workflows involves the implementation of customized processes and interfaces that seamlessly guide individuals through the task of updating their personal details.
Assisting businesses in maintaining compliance with regulatory standards is crucial for their sustained success and reputation. This includes adherence to regulatory requirements established by authoritative bodies such as the Reserve Bank of India (RBI).
Assists in reactivating dormant clients, unlocking business potential. Utilizing effective communication channels and employing relationship-building strategies fosters trust and re-establishes the brand's relevance, enticing dormant clients to re-engage.
Used in banking, financial services, telecommunications, and more for efficient data management.