An Overview
An unassisted VKYC (UVKYC) journey refers to a verification process where an individual completes the Know Your Customer (KYC) or identification process without direct assistance or intervention from another person or a KYC expert (agent).
In this context, unassisted VKYC typically involves using digital tools, platforms, or automated systems that guide the user through the KYC process without the need for human interaction. This includes:
- Onboarding URL
- AI-Powered Verification
- Document Verification Tools
Unassisted Video KYC emerged as a response to the inherent challenges encountered during Assisted video KYC processes; Scenarios Like:
- Customer lacked essential documents for KYC
- Customer facing connectivity issues
- Dependency on agents which can be mitigated because some users dont require this
Identifying the Problem:
The existing video KYC process presented inefficiencies due to which agents often faced unproductive hours due to these identified reasons.
- Unsuccessful calls, resulting in increased failure rates and longer wait times.
- Moreover, a significant portion of customers are compelled to undergo an assisted KYC process, despite being technologically capable to complete most of the journey on his own.
In response to these challenges and reasons, the concept of Unassisted Video KYC emerged as a solution. This innovative approach aimed to accelarate the verification process, reduce agent dependency and enhance user experience.
The adoption of unassisted video KYC brings forth numerous benefits, including:
- A threefold increase in agent productivity
- Reduced waiting times for video KYC
- Higher success rate in verification.
This method makes agents more efficient by giving them processed information to verify a user's identity. They can quickly check if the user is who they claim to be by using data collected during the assisted journey. This means agents can skip unnecessary questions or ask only the ones they need to confirm the identity. As a result, the verification process can be completed in at least one-third of the time compared to a fully assisted process.
The Unassisted method significantly reduces verification time, boosts productivity, minimizes unsuccessful calls, enhances user satisfaction, and increases agent productivity, resulting in a higher number of identity verifications overall.
Getting Help
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