Mastercard partners with Signzy for global rollout of video KYC


Mastercard today announced a partnership with Signzy, a leading RegTech startup based in India, to enable Signzy’s video-based KYC (Know Your Customer) solution for its banking customers.

With this partnership, Mastercard customers will benefit from a completely paperless, remote and secure onboarding solution for end-users.

Deployment of Video KYC will allow end-users to complete and submit their KYC application from the safety and security of their homes. This would be 99% faster than the traditional paper-based KYC process. Backed by artificial intelligence (AI) and machine learning (ML) technologies, Signzy’s Video KYC solution features security protocols to prevent unauthorized system intrusion or attempted fraud. Further, the solution offers industry-leading scalability to deal with high volumes of video KYC transactions.

In India, this launch will further Mastercard’s goal to drive inclusive growth via financial inclusion by enabling individuals and small businesses to go online. Earlier this year, the payments technology

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Mastercard, Signzy Tie Up for Faster KYC Process Completion

Mastercard Incorporated MA recently collaborated with India-based RegTech startup — Signzy. The startup is best known for offering a digital onboarding solution, which eases the otherwise time-consuming KYC (Know Your Customer) process for clients, which comprises more than 90 financial institutions of India including banks, NBFCs, insurance firms, asset management companies and many more as well.

With this alliance, Mastercard’s customers will be able to avail Signzy’s remote and secure onboarding solution — Video KYC. The solution, which is equipped with artificial intelligence (AI) and machine learning (ML) technologies, will enable faster completion of KYC application by customers from the comfort of their homes. Not only does Video KYC feature security protocols to avert fraudulent activities but it is also capable of handling enormous volumes of video KYC transactions.

It is worth mentioning that the solution also enables paperless customer onboarding, which will actually accelerate the KYC process by 99%

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Mastercard partners Indian start-up Signzy for global rollout of Video KYC

Mastercard, a global technology company in the payments industry, has partnered with Signzy, a RegTech startup based in India, for global rollout of Signzy’s video-based KYC (Know Your Customer) solution for its banking customers.

With this partnership, Mastercard customers will benefit from a completely paperless, remote and secure onboarding solution for end-users. It maybe recalled that Reserve Bank of India (RBI) had in January this year amended its KYC norms allowing banks and other lending institutions regulated by it to use Video based Customer Identification Process (V-CIP), a move which will help them onboard customers.

Signzy’s Video KYC solution will enable end-users to complete and submit their KYC application from the safety and security of their homes. This would be 99 per cent faster than the traditional paper-based KYC process. Signzy is an Artificial Intelligence-powered Robotic Process Automation platform for financial services.

Financial inclusion

In India, this launch will further

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