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Capital Float partners with HyperVerge to launch video KYC

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HyperVerge has announced the release of Video KYC solution with Capital Float. Video-KYC allows a customer to remotely authenticate KYC verification with Capital Float from the comfort of their home or office. The entire process takes the customer between 2 to 5 minutes and offers an enhanced experience to the borrower, when compared to the tedious traditional verification processes. Thus, the system is safe from a COVID perspective, and it also offers a better customer experience than earlier.

The HyperVerge system is 100 per cent compliant with the Jan 9 RBI regulations that permitted Video KYC for all regulated entities (banks, NFBCs, wallets). Further, it is built to enable each agent to be able to process 200 KYCs a day, which is an improvement of 10 times over in-person-verification. Lastly, HyperVerge AI checks for errors and frauds in real-time in a way that was not possible earlier.

Speaking on the development, Gaurav Hinduja, co-founder and managing director of Capital Float said, “Video KYC is the new normal post-COVID-19 as businesses have redefined their model of operations. This feature will enable customers to complete the verification process remotely, from the comfort of their homes or offices. The V-CIP solution is expected to drastically reduce onboarding time, subsequently shortening wait times for the borrower. We, at Capital Float, aim to constantly improve customer experience while ensuring compliance from a risk and regulatory perspective. We are excited to partner with Hyperverge in this regard and are pleased to extend the benefit of Video-KYC to our customers“.

Commenting on the launch, Kedar Kulkarni, Co-founder and CEO, HyperVerge said, “COVID-19 crisis is putting pressure on all businesses to innovate. Together with Capital Float, we have created a 100% safe and contact-less process that will be used by thousands of Indians who can get a loan without having to leave their house.”

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