Recently, Reserve Bank of India(RBI) has directed and permitted to include Video based Customer Identification Process for customer on-boarding to leverage digital channels for customer identification process.
In lines with RBI's guidelines, Newgen's touchless customer on-boarding application enables you to digitize your end-to-end on-boarding process while offering a seamless experience. The application's video-KYC capability eliminates the need for physical meetings required for an e-KYC via biometric authentication. The optimized process can help you in on-boarding new customers within minutes.
The application is built on a low code digital automation platform, powered by intelligent process automation (BPM) and contextual content services (ECM), and omnichannel customer engagement (CCM).
Core Functionalities of the Application
- Machine learning and artificial learning-based intelligent document classification and face recognition capabilities for video-KYC
- Live signature capturing via video calling with the bank's agent
- Multi-channel initiation of requests through the online portal and self-service apps with Digital documents uploading
- Seamless integration with third-party applications
- Capturing the leads and following till closure, thereby reducing abandonment rate
- Relevant validation of KYC, background, and credit information
- Orchestration layer for adapting to market needs and regulatory requirements
- Real-time status tracking and reporting on requests, exceptions, and approvals
- Approvals processing with audit trails