A customer’s KYC details are collected & verified typically before that customer can begin an account-based relationship with a regulated financial institution such as a bank, financial service provider, insurer etc
Video KYC is completely digital & involves zero paper which takes place over digital channels, primarily use scanned documents or document images for verification, and can be completed over the internet.
While being cautious is the best way to fight fraud, the modern age is no longer just a battle of wits but of technology. If fraudsters can use advanced software and hardware to hoodwink people’s judgment, it is only fair that technology should come to the rescue. Besides, with novel ideas like Video KYC, even users with minimum knowledge about frauds and cyber threats can secure their accounts. After all, what might escape the human vision cannot defy computer vision.