Video PD (Video Personal Discussion): The Future of Secure Remote Onboarding

Currently, businesses of all in industry need a secure solution for remote onboarding. A Video PD solution offers all the security features required for smooth communication. Choosing the right Video personal solution business can simplify remote onboarding. Here in this blog, you will learn about the Video Personal Discussion in detail. So, stay still until the end

What is Video PD?

Video Personal Discussion refers to the conversations conducted through Video Platforms. It enables face-to-face communication remotely. It is used for professional meetings, interviews, personal chats, etc. Businesses use Video PD solutions embedded with features like liveness detection, geotagging, and OCR to make Video personal discussion secure and easy.

Why do businesses need a Video PD Solution?

Business needs a secure Video PD solution due to the following reasons:

• Customer Verification: It helps in customer identity verification via live video calls.
• Reduce Risk: It helps businesses detect and avoid potential risks with advanced security features, reducing loss and legal issues.
• Smooth Onboarding: It simplifies the customer onboarding process with features like OCR and liveness detection.
• Cost Effective: It eliminate the need for in-person visits and documentation, hence saving time and resources.
• Enhanced Security: Video Solution offers secure verification processes with technologies such as geo-tagging, liveness detection, etc.

Features of Video PD Solutions

Today’s Video PD solutions offer a wide range of features that make them useful for business.

• Real-Time Media Capture: It captures images in real time.
• Geo Tagging: Tracks the location of the participant for added security and verification.
• Liveness Detection: It offers liveness detection and ensures that the person is physically present.
• Multi-Device Support: It can work across various devices including smartphones, tablets, and desktops.
• Remote Real-Time Verification: Enables live, face-to-face discussions with customers or clients remotely.
• Secure Video Recording: Video is recorded securely for auditing purposes.
• Easy Schedule: The call schedule option makes it easy for executives to schedule.

Step-by-Step Video PD Process

Here is an overview of the Video PD Process:

• Scheduling Meeting: The authorized executive sets up an online meeting with the potential customer through a Video PD platform.
• Send Invitation: The customer will receive an invitation link by email or SMS to join a video meeting.
• Customer Details: The customer has to enter the required details on the portal before joining the discussion.
• Star Video PD: The business representative joins the meeting and is ready to interact with the customer.
• Engage with Customer: The executive will interact with the customer via video call, which will be simultaneously recorded for audit purposes.
• Document Upload: The customer will upload the necessary documents for verification, which will added to the KYC profile.
• Finalise Approval: Once the Video Personal Discussion ends, the employee either approves or rejects the customer data and documents or forwards them to the auditing team for final approval.

Benefits of Video PD

• Enhanced Security: It helps verify the customer’s identity in real time, reducing the chances of fraud or identity theft.
• Cost Effectiveness: It eliminates the need for a physical verification process and allows businesses to onboard customers securely.
• Convenience for Customers: This gives access to customers to join discussions from anywhere.
• Audit Trail: The interaction between the customer and executive is recorded for future audit trials.
• Reduce Risk: It helps identify the risks of fraud with advanced security features and reduces the chance of financial loss.

Challenges in Video PD

Some common challenges that occur in Video Personal Discussion:

• Technical Issues: Usually Video PD solutions sometimes show issues due to connectivity problems, and low Bandwidth.
• Security Risks: This solution should be secure to prevent data breaches and unauthorized access.
• Dependence on the Internet: In some regions, a stable Internet connection is still not present. A stable internet is required for conducting smooth video personal discussions.

Conclusion

Video PD is an Ideal solution for secure remote customer onboarding. A good solution with the right security features gives a smooth experience. It saves time and resources by eliminating the documentation and in-person visits. Although challenges like technical issues and low bandwidth still exist, the benefits are superior on issues.

FAQs

What does Video PD mean?

It refer to the Video Personal Discussion, a face-to-face online communication through a Video Platform.

What is Video PD KYC?

It is a remote video-based customer verification process in the KYC process, where bank representatives do KYC by video call.