When you start a new financial relationship with any loan provider, you need to avail video KYC. Knowing your customers is very important to avail of a personal loan in Noida or any form of credit. KYC is the process of verification of documents. It is important to run a background check on the individual's background. Without background verification, a personal loan apply process will not be entertained. Nowadays, banks and non-banking financial institutions offer video KYC options.
What is a
personal loan video KYC?
KYC is basically about knowing your customer better. It is a background check of an individual done by banks or non-banking financial before offering a new loan. KYC is done to validate and authenticate the information offered by the individuals. KYC is usually a process where all the financial, as well as personal information of a borrower, is validated and authenticated. An instant personal loanonline needs validation and a background check which can be done with the help of KYC documentation. It also helps a customer in getting a good personal loan interest rate.
Process of video KYC
● The official website will have a KYC online form. Visit the official website and fill that form with all the necessary information.
● You will get a confirmation message with an online link that you can click and open on your smart device.
● Click on the online link to join and connect with the KYC verification person. If there is no one to join, you will get a new date as per convenience.
● Once you get connected with a verification officer, you need to show all the documents like PAN card and anything as required.
● Your live picture will be captured. There will be various questions along with the verification.
● All your documents and your pictures will be matched with the documents with the help of artificial intelligence. Once you are done, the verification officer will disconnect the call.
Benefits of video KYC
No branch visits: Usually, banks do it physically, but there is a video KYC option available now. A video KYC option is taken since the advent of pandemics. Onboarding and validation of documents are done with the help of video. It helps the customers as well as the financial institutions to do the background check over the internet only.
Easy verification: A video KYC process is done using a smartphone or laptop. It is minimal and done in an instant manner. It is a very easy verification process where you don’t need to visit the branch with your documents for KYC documentation.
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Wrapping up
KYC process is a vital step in personal loan apply for an instant personal loan online. If you need a personal loan in Noida, visit Clix Capital today.
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