Wibmo Inc, a global provider of payer authentication services and card payment security solutions, today announced the launch of Wibmo Video-KYC, its video-based KYC solution to enable banks to digitally onboard their customers.

Wibmo believes that with Indian regulators opening up digital channels for KYC compliance, banks are looking at faster and more cost-effective ways to onboard customers, especially during the current Covid-19 pandemic.

The California-based company further mentioned that this solution will not only help banks and financial service providers bring on new customers but also opens up more ways for reaching their customers online.

Wibmo Video-KYC serves as a one-on-one digital interaction platform between banks and their customers.

Speaking on the launch, Govind Setlur, CEO of Wibmo said in the official announcement: “Wibmo’s Video-KYC platform has been designed keeping in mind the emerging need of financial service providers and their customers worldwide to establish a trust relationship in a digital world.

He added: Video-KYC is built to ensure secure methods of identity verification, it is another essential addition to ACCOSA-IVS, the company’s comprehensive enterprise-class suite of digital identity verification services launched last year. Built with end-to-end data encryption, and AI-based user verification technologies, it complies with RBI guidelines in India and the requirements of banks in all countries that we serve today.”