{"id":5591,"date":"2020-01-21T10:50:15","date_gmt":"2020-01-21T10:50:15","guid":{"rendered":"https:\/\/fintech.global\/AIFinTechForum\/?p=5591"},"modified":"2020-01-21T10:50:15","modified_gmt":"2020-01-21T10:50:15","slug":"indian-central-bank-gives-thumbs-up-for-video-based-customer-identity-verification","status":"publish","type":"post","link":"https:\/\/fintech.global\/AIFinTechForum\/indian-central-bank-gives-thumbs-up-for-video-based-customer-identity-verification\/","title":{"rendered":"Indian central bank gives thumbs up for video-based customer identity verification"},"content":{"rendered":"

From:\u00a0<\/em>RegTech Analyst<\/a><\/p>\n

Financial firms in India can now use video-based methods to verify the identity the identities of their customers.<\/strong><\/p>\n

The Reserve Bank of India (RBI) has given the financial sector the thumbs up to use video-based know your customer (KYC) methods to onboard customers far away,\u00a0DataQuest reported<\/a>.<\/p>\n

RBI stated that the they have to follow the approved Video Customer Identification Process (VCIP), which is expected to simplify the authentication process for financial firms.<\/p>\n

While customers can use verify their identities through video calls, they have to call from within the country.<\/p>\n

Moreover, only calls from within the bank\u2019s or financial institution\u2019s domain will be accepted, meaning WhatsApp calls or Google Duo will not be acceptable.<\/p>\n

This is not the first change made by Indian regulators.\u00a0In early January<\/a>, the Bangladesh Financial Intelligence Unit issued new guidelines for opening accounts without having to fill in any paper-based documents. This change would enable illiterate individuals can open accounts without having to fill in their signature.<\/p>\n

Copyright \u00a9 2020 FinTech Global<\/p>\n","protected":false},"excerpt":{"rendered":"

From:\u00a0RegTech Analyst Financial firms in India can now use video-based methods to verify the identity the identities of their customers. The Reserve Bank of India (RBI) has given the financial sector the thumbs up to use video-based know your customer (KYC) methods to onboard customers far away,\u00a0DataQuest reported. RBI stated that the they have to… <\/p>\n

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