E-KYC App Development

 
Use Cases of E-KYC Over KYC 

Standard KYC is replaced by E-KYC, which is employed for customer onboarding, due diligence, and ongoing monitoring. The principal E-KYC use cases or techniques are listed below: 

• Video KYC 

This was one of the original E-KYC techniques created and is still essential. Live video and identification papers may be compared to verify customers, and automated verification is now feasible. Manual video-based verification may be performed in cases where similarity is ambiguous or when regulators demand it. 

• Document verification 

Another use of E-KYC is the capture and validation of photographs of identity papers. Several distinct sorts of papers are authenticated using AI approaches. 

• Digital due diligence 

A risk assessment is necessary as part of KYC processes to ascertain the chance that a client (person or corporation) may be involved in financial crime or money laundering. In the past, working on such checks would involve time-consuming human searches and document verification, but thanks to E-KYC, most of this can now be automated. 

• Fraud detection and ongoing monitoring 

The constant client monitoring that E-KYC is involved in is the last factor to consider. The "three pillars of KYC" serve as a reminder that thorough KYC calls for more than just a single customer evaluation; it also necessitates continuous customer relationship monitoring. Much of this can be automated using E-KYC. Accounts may be verified against watchlists, PEPs, and punishment lists, and consumers can be routinely tracked. 

Featured E-KYC App Development Solutions 

The customized platform designed by our team of professionals includes several features including required data, auto-update, multilingual, system integration, security, process consistency with automated workflows, and more. 

• Integration to E-KYC platforms 

Newer technology integration into current platforms or the creation of new platforms has evolved into the standard with passing time. Where there are no fixes delivered to several end users, TransformHub has avoided redundant data entering through third-party integration. The systems we create feature an easy-to-use interface for controlling field operations. 

• Pre-KYC lending 

Pre-KYC involves several steps that start as soon as a new account is added, gathering more fundamental data about the customers to deliver a fully digital onboarding experience that lessens the complexity of the onboarding procedure, all while providing a simple and safe method to sign contracts and obtain them with high security. 

• Reporting 

Trustworthy data is where intelligence begins, therefore we begin by creating solid governance and data architecture. Based on this data and the development of the best procedures, we build reliable reporting systems and ensure that they are quick, thorough, and affordable. 

TransformHub for E-KYC App Development 

TransformHub’s E-KYC app development services offer the following segments: 

• KYC Identity Verification 
• Face Verification 
  
• Video KYC  
• AML Screening 
• Know Your Business 

From the moment we begin the engagement, we provide an unmatched value to our clients by using our broad domain understanding and in-depth technological competence. We take complete Accountability to ensure these important features are added to the application. 

• Integration 

Through a simple API request, TransformHub enables businesses to integrate and easily validate clients. Additionally, the on-premises integration option enables improved data integrity that may be customized to the needs of the customer. 

• Security & privacy 

Global norms and regulations aimed at safeguarding client information and privacy are included in contemporary E-KYC software. These, in turn, help companies to uphold a high regulatory standard, enabling them to avoid steep fines for noncompliance and supporting effective data security/privacy measures.