IDfy Blog

How to onboard more customers using Video KYC

We ran Video KYC operations on our Video KYC platform. In one month, we saw a 2x improvement in lead conversions and 3x increase in agent call completions. Here's the secret code.

E-Commerce

2.5x Increase in Lead Conversions with Zero Touch Onboarding

We onboarded 10,000 delivery executives for our client in one month. We more than doubled conversion rates and tripled agent efficiency while doing so. This is the inside story of how we did it.

Ecommerce

Onboarding a Delivery Executive every 2 Minutes. Contactless.

Zero Touch Onboarding for Zero Touch Deliveries ZTO is ushering in the Contactless era by impacting the top of the value chain - Onboarding.

Video KYC

V for Video: Transformation of the Relationship Manager

Of all things Coronavirus, the least talked about is how it has made WFH favorite for Word of the Year 2020. Yes, we are all adjusting to this new work-culture phenomenon. No more than those for whom face-to-face interaction was core to their work.

Digital KYC

KYC in the Times of Coronavirus

KYC has seen a few digitization ups and downs over the years. The Coronavirus pandemic and the resulting lockdown has rushed in few new trends in KYC. Here’s a quick snapshot.

How our business moved to WFH: An Inside Account

"Move swift as the wind and closely-formed as the wood.” ~ Art of War Sun Tzu might as well have been describing how we moved our business into a remote operating model - WFH, if you like - almost overnight. When I say ‘our business’

IDfy

A Message to our Customers

As our trusted client, we want you to know that we are taking care of ourselves and the community, while ensuring your business operations continue and your goals are met.

Video KYC

10 Things You Need to Know About RBI's latest Video KYC Regulations

Here are 10 things you definitely need know to keep yourself compliant with the new regulations.

Uber

How Uber can avoid getting banned

Every time the driver starts a trip, the Uber app running on his smartphone can take his selfie and match it with the picture saved with them. Further, it can run a Liveness check to ensure that the selfie is 'live' and not a picture-of-a-picture.

REGTECH100

World's Top 100 Regulatory Technology Company...Again!

Yes, we've been selected...for the 2nd year in a row...in the REGTECH100, a list of World's Top 100 Regulatory Technology Companies released annually by FinTech Global.

Digital KYC

This will reduce customer drop-offs during Onboarding by 80%

You cannot stop customers from submitting incorrect or unusable digital documents. But you can inform them about it in the first session itself. The delay in doing so causes them to drop you and go elsewhere. This is where our Right-First-Time (RFT) API comes in.

Dissecting the SEBI Circular dated Nov 5

There was some excitement in the industry on November 5, 2019 when SEBI released a circular with eKYC Authentication in its headline. Is eKYC back? Can we go back to the days of Aadhaar-based authentication? Obvious questions from all concerned. We read the notice

Digital KYC

Why it's important to get digital documents 'Right First Time'

That's exactly why we've built a SDK that helps the customer get it 'right first time' at the time of uploading their documents.

AML

New AML rules bring KYC to the digital age

Reading the new Prevention of Money Laundering Act (PMLA) of August 20, can feel a bit like reading tea leaves. While we wait for clarifications and further announcements let’s take a look at what the future holds for us based on what we know so far.

RBI's 'Regulatory Sandbox Enabling Framework' Highlights

Last week, the RBI released the ‘Enabling Framework for Regulatory Sandbox’ (RS). Key highlights of the framework are summarised below: Eligible applicants - Companies incorporated and registered in India or Banks licensed to operate in IndiaFit and Proper Criteria for Selection of Participants in

Revenge in Oil: Art Talk

I enjoy art and I was nervous for my session but Oh Boy! I did not expect fifty people. But there I was, in a dark room with a projector

IDfy

Kho Kho in the Rain

This was an evening when our over-worked and hyper-pressured tech and product teams went out to let their hair down. Or, wet in this case.

RBI

Rs. 1.75 Crore Penalties for KYC Violations

The RBI is getting tough for any violations on those fronts. PNB, UCO Bank, Corporation Bank, and Allahabad Bank just the latest to be slapped with fines by the RBI to the tune of Rs 1.75 Crores. These are for non-compliance with KYC requirements and opening of current accounts.

HDFC Bank

HDFC Bank fined Rs 1 Crore for KYC violations

The industry is realizing that Digital KYC solutions that combine realtime checks, tampering detection, face recognition and face liveness technologies provide the same level of time and cost efficiencies as Aadhaar eKYC.

I have a hammer. Where is the nail?

We live in interesting times. People are predicting the end of jobs (through machines), the end of diseases (again through machines), the end of governments and monetary/fiscal policies (through tech that run machines). There'll be disruptions galore in the coming years. AI, Data

RBI's new KYC Master Directives in 6 Bullet Points

The RBI released its new KYC Master Directives. We've read the 60-page document and distilled it down to the 6 bullet points that matter to you. Aadhaar is now an OVD: The Aadhaar card or proof of possession of an Aadhaar number is now

Will the new offline KYC rules really ease Fintech's pain?

Unlikely! While the Economic Times article on the subject strikes an optimistic tone, it's unlikely that the new offline KYC rules issued by the RBI, allowing Fintechs offline Aadhaar KYC options, will make customer onboarding much simpler. According to the new rules, Fintechs can

RBI

SEBI 'Innovation Sandbox' to Address 'Data Access' Issue

After the RBI, it is now the turn of SEBI and IRDAI to launch their own Regulatory Sandbox Frameworks for Fintech and Insurance companies. SEBI, thankfully, also addresses access to data as an important factor in its 'Innovation Sandbox'.

PayTM

Two Important Lessons the PayTM Mall Fraud Saga Teaches Us

Fraud Detection is not a cost head that needs to be budgeted and minimized. In fact, it's a strategic investment that insures the company's future.

IDfy

Video KYC can help separate customer 'identification' and 'authentication': Wriju Ray to ET Prime

The requesting entity can download the video. But how would the entity authenticate whether this is the same person transacting now? So, it could take the video and match it with the documents available with the Central KYC Repository (CKYCR)