The move removes the need to go into a branch, invite strangers to your house, share paper copies, or wait for days for the account-opening process to be completed. Instead, the account can be opened at the comfort of your home.
The customer can, through a stroke of a video call, chat directly with a Banker, provide all the identity documents to verify who they are and complete the account opening steps in a few minutes. And the video streamed live to the Banker.
The Bank official can, through the Aldus web client, capture face, capture ID and geo location during the video chat. Aldus Video KYC then does the magic of ID face to video face matching, ID check against the ID issuing authority (e.g. PAN), geographic boundary check and liveness checks as per current video KYC regulation.
The only permitted ID for video KYC is Aadhaar. While banks can do OTP based eKYC or Aadhaar Offline (XML and Encrypted QR), all other regulated entities can only do Aadhaar Offline. Our solution complies as intended by the regulator with a seamless screen capture while the customer completes Aadhaar Offline steps.
The video streaming is triggered from the domain of the regulated entity. We provide a mobile SDK that gets integrated into existing Banks' mobile App and a web client that is hosted on premises and uses the client domain for the live video streaming between the Customer and the Bank Official.