What is advantages of Video KYC?

What is advantages of Video KYC?
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Answer :

Docboyz provides several advantages of it which provides full freedom to the customers as well to the enterprises which as following:•Location Independent•Video KYC supports fast customer onboarding•More Accurate (Near around 99%) than the traditional process•Most adequate procedure for verification and validation•Platform Independent•Takes les time•Can be done from anywhere•Liveliness check•Supports live geotagging and time-date stamping•Customer-friendly UI•Based on the latest AI trends and techniques•Provides accurate face recognition•Compliance with mandatory authority such as RBI, SIDBI etc.
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Related questions

What is KYC Form ?

Description : What is KYC Form ?

Last Answer : The KYC form is a form in which the customer is required to fill in all the information related to the customer in order to prevent fraud and illegal money transactions .

RBI has imposed how much fine on 13 banks for violation of FEMA and lapses in know your client (KYC) rules? A) Rs 24 crore B) Rs 25 crore C) Rs 27 crore D) Rs 28 crore E) Rs 29 crore

Description : RBI has imposed how much fine on 13 banks for violation of FEMA and lapses in know your client (KYC) rules? A) Rs 24 crore B) Rs 25 crore C) Rs 27 crore D) Rs 28 crore E) Rs 29 crore

Last Answer : C) Rs 27 crore Explanation: The Reserve Bank of India has come down hard on 13 banks and fined them for Rs 27 crore for violation of FEMA and lapses in know your client (KYC) rules.

e-KYC is possible only for those who have _______ A. PAN Card B. Driving License C. Ration Card D. Aadhaar Number E. None of the Above

Description : e-KYC is possible only for those who have _______ A. PAN Card B. Driving License C. Ration Card D. Aadhaar Number E. None of the Above

Last Answer : D. Aadhaar Number Explanation: e-KYC is possible only for those who have Aadhaar numbers. While using e-KYC service, you have to authorise the Unique Identification Authority of India (UIDAI), ... data comprising name, age, gender, and photograph of the individual, electronically to the bank/BC.

What is the purpose of KYC in banking? A. It is used for customer identification B. It is used for increasing the CRR of banks C. It is used against money laundering D. It is used by the central bank to control liquidity E. Both (A) and (C)

Description : What is the purpose of KYC in banking? A. It is used for customer identification B. It is used for increasing the CRR of banks C. It is used against money laundering D. It is used by the central bank to control liquidity E. Both (A) and (C)

Last Answer : E. Both (A) and (C) Explanation: Know your customer (KYC) is the process of a business verifying the identity of its clients. Know your customer policies are becoming much more important globally to prevent identity theft, financial fraud, money laundering and terrorist financing.

Under which Act are the KYC norms implemented? A. SEBI Act 1992 B. Foreign Contribution and Regulation Act, 1976 C. Prevention of Money laundering Act 2002 D. Banking Regulation Act, 1949 E. Both (C) and (D)

Description : Under which Act are the KYC norms implemented? A. SEBI Act 1992 B. Foreign Contribution and Regulation Act, 1976 C. Prevention of Money laundering Act 2002 D. Banking Regulation Act, 1949 E. Both (C) and (D)

Last Answer : C. Prevention of Money laundering Act 2002 Explanation: KYC guidelines/instructions are issued under under Prevention of Money laundering Act PMLA, 2002.