Working of Online Video Verification Process in the Tech Era

Today, ID verification has become one of the most crucial processes to follow up with to ensure one’s identity matches the one he or she is supposed to be. Identity is an attribute of being identical and different, which both are correspondence if compared. To make him unique, each human has an individual set of characteristics. When it happens to the online world it's important something, where identity theft has emerged and happening concern than one could ever imagine.

Online video verification and identity verification has now become a must to follow and necessary requirement, almost everywhere and in types of situations too, be it opening a new account in the bank or making some online transactions or doing tax procedures online.

In the financial institutions and the banking world, too, this online video verification and identity verification process has been well-recognized as the KYC (Know Your Customer) process. It is important for every single person to go through this process at first, to make further activities online.

What does it mean to verify the identity online?

There is a purpose behind everything we humans do, and so does is in the case of the identity verification process as well. This process ensures there is a genuine person behind everything and also proves that the person to whom he or she is claiming to be, is actually the one. The purpose behind the identity verification process is to prevent a person from doing any wrongful activity on someone other’s behalf by creating fake identities and make any sort of fraud when carrying out transactions and processes.

Till the date, there are a number of methods and systems used to carry out the identity verification process. In fact, it can be carried out with proper consideration of government officials in various ways, based on the liability, responsibility, and the means of the process.

Gone are the days when conventional face to face method was used, in which, a person by his or her own has to submit his or her identity documents (be it Aadhar card, driving license, PAN card, passport or voter card) in the concerned company (be it any commercial office, office branch or store) at the time of joining. With this, the concerned person of an organization verifies if a photograph is of the same person who is delivering these identity documents or not. However, this whole process has been replaced by online video verification now. And of course, there are so many reasons for that too. The advantages and the convenience being offered by this process are immense.

How video verification process works online?

These days, it becomes important to understand the fact that a number of different types of identity verification process have been made, that can be carried out online only. But, not each of them meets the required characteristics to be made and considered to complete the process efficiently and safely, both.

Nevertheless, online video verification is one among them, which is secure and meets the requirements of the officials for legal processes and guarantees requirements of every

establishment and financial institution gets fulfilled. There are so many technologies being incorporated in these systems to offer reliability and utmost convenience to everyone.

One other such process is eKYC, or we can also address it as an online video verification process. In this process, the identity verification of the person is carried out digitally and via online means. A person only needs to have access to the internet, computer, PC, tablet, or smart phone device in order to complete this verification process.

This whole process works as mentioned below – 

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At the very first, the person who wishes to register and go through this verification process has to go and visit the official website, link, app, or platform of the concerned establishment, business, company, or organization.

At the very next, the concerned person has to accept the use of the camera and microphone, too, in order to start with this online video verification process.

The concerned official is then going to ask him or her to show their identity as well as address proofs from both sides and will then check if they are recognized and okay or not.

At the very next, the user has to show his or her face to the camera, obviously, and has to greet the official on the other screen.

If required, a team of their official agents can validate the video in a different process.

Then, the identity of the person and the one’s credentials are cross-checked, and the recorded video, too, with one’s identity document and video is going to serve as the proof that whoever a person is claiming to be is the same personality. Once this whole process is carried out, a person gets registered by the institution and the organization.

RBI has now made KYC a mandatory approach to follow up with; for the security of people. In fact, there are a lot of more benefits a financial institution or company can avail with this effective online video verification process, and this is basically why it has been now made mandatory to follow up with it – and of course, it is good for the people themselves.

Source: https://signzyonlineidverification.wordpress.com/2020/07/22/what-is-online-videoverification-process-and-how-it-works-in-the-tech-era/