Source: Interactive Powers
In today’s Digital Age, opening a new account or service with a face-to-face verification has become a absolute need. This has created a need for online identity verification tools that can be integrated into digital channels to ensure a secure and efficient customer onboarding experience.
Video Call Onboarding is one such tool that has become increasingly required for online services effectivity. It is a process that allows financial products providers to verify a customer’s identity through a video real-time communication with recording. This onboarding process is quick, convenient, and secure, and it can help financial institutions to comply with regulatory requirements while enhancing the customer experience.
1. Eliminates physical branch visits
The benefits of Video Call Onboarding for financial services are many. Firstly, it eliminates the need for customers to visit a physical branch for verification, which saves time and effort. Secondly, it provides a secure and convenient way to verify a customer’s identity, which reduces the risk of fraud. Thirdly, it improves the overall customer experience by offering a streamlined onboarding process.
2. Comply with “Know Your Customer” (KYC)
Additionally, Video Call Onboarding can also help financial institutions to meet their regulatory requirements. For instance, financial institutions are required to comply with Know Your Customer (KYC) regulations, which involve verifying the identity of the customer. By using Video Call Onboarding, financial institutions can ensure compliance with KYC regulations, while providing a seamless and convenient customer experience.
3. Reduce the Operational Costs
Furthermore, Video Call Onboarding can also reduce the operational costs associated with customer onboarding. It eliminates the need for physical documents and manual verification processes, which can be time-consuming and expensive. Instead, it offers a digital alternative that is more efficient and cost-effective.
In conclusion, Video Call Onboarding is a powerful tool for financial service providers that are looking to enhance their online channels. It offers a convenient and secure way to verify a customer’s identity, while reducing the operational costs associated with onboarding. As the world becomes increasingly digital, Video Call Onboarding will become an essential tool for any financial service that is serious about offering a seamless and convenient more personal customer experience.
Interactive Powers - Streamline your business communications