Overview
VKYC stands for ‘Video Know Your Customer’ which is one of the products of Signzy developed with a combination of IO (Investor Onboarding) / GO (Generic Onboarding) and VCIP (Video-based Customer Identification Procedure).
Signzy uses VKYC for onboarding customers digitally with the help of banking representatives over the video call.
We work with different Financial organizations/institutions so that the customers don’t have to be present physically at the bank centers for getting their onboardings done.
Roles in VKYC :
The product requires 3 main roles to function:
- End user / Merchant : A person who is trying to process his/her onboarding
- RE Agent (Regulated Entity) : Is responsible to get into a video call with the end user
- RE Manager : Manages the RE Agents
End user :
The end user is the person who wants to perform the KYC process. They will be the one who will have to gather their required documents, Upload the documents on the portal and finally get on a Video call with the representative.
Regulated entity (RE) :
Also known as RE agent, KYC banker, Bank representative
The RE agent will be an employee of the Bank / organization who will get on a Video call with the End user.
Their key responsibilities include:
- Verification of the End user identity.
- Validation of the End user documents.
- Check for Fraud.
Over the Video call, the RE agent will ask the End user to perform certain actions or steps in order to confirm the above mentioned points. Once The RE agent is satisfied with the response, they will choose to direct the KYC application to the Back operations user.
Regulated entity (RE) Manager :
The RE agent manager will be an employee of the Bank / organization who will manage the RE agents under them.
Their key responsibilities include:
- Manage RE agents under them