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.
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