Definition
Video KYC
Video KYC is an RBI-permitted process where customer identity is verified through a live video interaction with an official, allowing fully remote account or loan onboarding.
In Video KYC (technically V-CIP, video-based customer identification process), a bank or NBFC official conducts a live video call to verify you, capture your photo, check your PAN and Aadhaar details, and confirm you are present and genuine.
The session is recorded, geo-tagged and conducted by a trained official, with liveness checks to prevent spoofing. It enables full-KYC account opening, loans and wallet upgrades without visiting a branch.
Video KYC made paperless, contactless onboarding mainstream, particularly for neobanks and digital lenders, while meeting RBI's identity-verification standards.
Related terms
- NeobankA neobank is a digital-first financial brand that offers banking-like services through an app, partnering with a licensed bank rather than holding a banking licence itself in India.
- eKYCeKYC is the electronic verification of a customer's identity using digital records such as Aadhaar, replacing paper-based document submission for opening accounts and availing services.
- CKYCCentral KYC is a centralised registry that stores a customer's verified KYC records under a unique number, so the same documents need not be submitted to every institution.
Plain-English explainer from The Dispatch Investors Encyclopedia. General information, not financial advice.