What is video KYC and how it works?

Video-based KYC means that user can complete remote KYC from anywhere via a video call. The verifier authenticates the documents, does a liveliness check along with establishing the location of the person – everything is done on a video call, unlike the traditional ways.

What is KYC video requirements?

The proof of possession of the Aadhaar card has been added to the list of official documents needed for verification. Video KYC involves capturing a live photo of the client with official and valid KYC documents such as the Aadhaar card or any other government KYC document, this photo is taken by a trained official.

How long does a video KYC take?

This is done via online or offline Aadhaar authentication for banks & private entities respectively. The customer also uploads at least one OVD for document verification purposes. The Video KYC Process typically concludes within 10 minutes of initiation.

What is Paytm video KYC?

Our Video KYC is a fully integrated, zero-contact, and paperless process to complete KYC and helps our customers to stay safe within their homes during the ongoing pandemic. All one needs is a smartphone, stable internet connection, PAN card, and Aadhaar card.

How much time does it take for video KYC?

Moreover, the verifying your documents, etc, can take as little as one hour to a maximum of three to four days, in a worst-case scenario. This means you would be able to access banking services faster than in case of a regular account.

What is video KYC for NSR?

B] Video KYC. You will need to upload your Passport size colour photograph, PAN card scan image and select your Address proof type as displayed by the system, enter address proof number and upload the scanned image of your selected address proof document with details matching to your NSR profile address.

When did RBI issued KYC guidelines?

The ‘Know Your Customer’ guidelines were issued in February 2005 revisiting the earlier guidelines issued in January 2004 in the context of the Recommendations made by the Financial Action Task Force (FATF) on Anti Money Laundering (AML) standards and on Combating Financing of Terrorism (CFT).