Strategies for Improving Banks’ Operating Efficiency

Strategies for Improving Banks’ Operating Efficiency

Banks occupy a place of pride because of its structure of undivided attention and contemporary functions. They have come an extended way from merely performing the services of lending, recovery, and accepting deposits to supporting maturity transformations and unified payment systems. In the recent past, the recurring banking failures and their effects have been handled […]

Get started with Digital Identity Verification

Get started with Digital Identity Verification

In a growing interconnected digital economy, identity verification of an individual’s real-world identity against their digital one has become ever critical in fraud detection. The ability to do this quickly and to comply with the regulations and ever-stricter AML policies has become crucial for business success. What is Digital Identity Verification? The heart of the […]

Growing Importance of Operational Resilience in the Digital Era

Growing Importance of Operational Resilience in the Digital Era

Operational Resilience assumes that things will go wrong, and it will force organizations to plan on how to recover from the disruption. It is a mindset shift. Rather than trying and controlling disruptions, the approach is to assume disruptions will happen and plan accordingly on how to recover and comeback to normalcy from that state.  […]

Why are organizations jumping onto the AI-enabled Identity verification bandwagon?

Why are organizations jumping onto the AI-enabled Identity verification bandwagon?

Who has not experienced being asked to show some kind of government ID, be it to receive your courier, or check into a hotel, or open a bank account or travel somewhere? Organisations are mandated by their regulators to verify the identity of the customer, they are engaging with. Human verification is rapidly being replaced […]

What is Identity Proofing?

What is Identity Proofing?

As per the Digital Identity Guidelines published by NIST, a US agency, Identity Proofing is verifying the claimed identity of an applicant by authenticating the identity source documents provided by the applicant. Identity Proofing usually focuses on use cases in which an organization is interacting with someone for the first time. Examples can be account […]

New Amendment to KYC Regulation by RBI – 10th May, 2021

New Amendment to KYC Regulation by RBI

In Jan 2020, Reserve Bank of India amended the KYC norms allowing banks and other lending institutions to use Video based Customer Identification Process (VCIP) to onboard customers remotely. This year on 10th May 2021, RBI has again amended this regulation to simplify and rationalise the process of periodic updation of KYC. Below are the […]

5 Steps to a Successful Execution of a Digital Transformation Project

5 Steps to a Successful Execution of a Digital Transformation Project

Digital Transformation is bringing about a radical shift in the way you run your business, deliver services or manage your customers. The objective of digital transformation is to gain long term value, competitive edge, and substantial growth to the business over a period of time. Introducing new system and technologies, automation etc. are actually parts […]