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Digital Solutions for Business continuity

WithCovid-19 pandemic and social distancing rules becoming the norm, forward thinking enterprises have quickly re-strategized their digital transformation journey. At a time when paperless, contactless transactions are preferred and deemed safe, companies across the Telecom, Banking and Insurance sector have adopted remote onboarding as a great business continuity solution during the lockdown.This has not only made things easier for customers but even employees find this a more hassle-free process.

With every challenge comes a learning and an opportunity. With the Covid-19 outbreak these are few takeaways:

• The online world will be powered by digital solutions that will demand secured transactions and convenience
• The increased demand for safe and secure digital authentication of new and existing customers leading to anincreased demand for Biometrics to verify the identity of the customer
• Digital-first strategy will ensure seamless capture and verification of customer ID for remote onboarding
• The remote onboarding will be quicker in much lesser time, in most cases from days the remote onboarding is reduced to minutes
• The use of state-of-the-art face identification technology
• The demand for technology that is user friendly and intuitive
• Organizations will focus on improving user experience, security while minimizing risks
• Cloud-based biometric ID Verification service
Security first
It is now a business imperative for banks, telecoms and insurance companies to ensure a completely secured online transaction to prevent identity theft and money laundering. Fortunately, advanced ID Verification solutions with robust know-your-customer (KYC) processes allows the identification and authentication quickly, safely and reliably.There are several ways the e-KYC can be done, using the webcam or camera of their smartphone to carry out online live verifications. These are powered by AI technology.
Few benefits of going digital with remote onboarding:
• Reduced operational risk
• 100% regulatory compliance
• Lower costs
• Enhanced customer satisfaction
Today, as enterprises evolve to embrace the digital first strategy the future is exciting. Digital services are now a necessity, not a thing of future and definitely not an option.
Digital Transformation in India

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