Loan fraud prevention using video verification Things To Know Before You Buy

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Agents need to make judgment phone calls when examining videos, which could add the element of human mistake. Some businesses may possibly rather flip to algorithms to help you match faces in videos to These on ID paperwork, but doing this necessitates which the software is reliable and unbiased.

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Corporations also must determine whether it is far more successful to assign experts to manage Each individual video contact or designate other employees to engage in calls after which make suggestions to specialists who in the end approve and process the verifications. The former may take up Significantly of their workers’ time, however the latter may be slower.

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Present consent with the lender to fetch your Aadhaar check here particulars or carry out an e-PAN verification process.

This accelerates the onboarding process, maintaining happy customers and guaranteeing compliance with KYC and AML restrictions.

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