In my personal opinion, the best outsourcing partner for KYC verification is Volans. It becomes a favorite third-party partner of many other companies. A genuine KYC verification service provider offers quality work. The fees chargeable by them are affordable even for startups.
Thorough research is required to finalize an authentic outsourcing partner. Always check that your service provider is authorized by the regulatory body. Otherwise, it will be an offense and you have to face the consequences. Document verification agency uses different tools depending on the need. The legit KYC agency shows their existence globally.
Why document verification for companies?
KYC stands for Know Your Customer. It plays an important role for FinTech companies. The guidelines of KYC help in verifying the identity of the customers. It prevents money laundering activities in businesses. The best document verification agency in India prevents from fraud customers. With the help of KYC conversion of black money stops.
It also helps financial institutions and banks while giving loans. Banks analyze the financial position of the customer. It helps in taking a decision. KYC activities can be performed manually or automated. Third-party partner completes KYC through call, email, video call, or a phone call.
What services lie under KYC verification?
A renowned and reliable KYC verification service provider offers various options.
- Credit score verification
- Address verification
- Document verification
- Employee verification
- Education verification
- Criminal record verification
- Financial verification
These are the core areas of KYC verification. A startup or a well-established brand can avail of these services from Volans. B2B and B2C outsource KYC verification services.
Who is the target audience for outsourcing KYC services?
The target audience for outsourcing KYC services comes from across the globe. If we talk about the industries that are much interested in KYC services are Fintech companies. The KYC verification service providers are banks, insurance companies, investment banking firms, share brokering houses, and government institutions. Companies like Paytm, phone pay, and other online payment portals are major clients.
It does not mean other industries are not doing KYC. Service-based companies outsource KYC services from a provider like Volans. Very few KYC processes are run in-house by the companies. Almost every company outsources KYC services. Choose a genuine service provider because the leakage of customer information is a huge loss for the company.
What is the famous software used for KYC verification?
The prominent document verification agency in India uses different kinds of software to complete the KYC process.
- SEON
- Onfido
- Trulioo
- Refinitiv
- KYC-chain
- Token of Trust
- Comply Advantage
- Ondato
All of the above software can be used for different purposes. Share your requirement for the KYC with the outsourcing team. They will define the path which is best for your process. The requirement of every customer is different from each other. The prices also vary for each service. Before taking any service knows the actual price of that service.
What is the process of KYC?
The process of KYC is very crucial and easy too. The KYC process is easy for those who know the in and out of the process. In the initial stage, they collect the data for the users. Then they contact them to start the process. Ask for the necessary documents related to address, identity, and income proof. Cross-check the documents and verify them. After verifying the details they update the data. This process is very easy in explaining. It is very lengthy while performing practically. For this, you need a certified document verification agency in India. You can connect with them by dialing their toll-free contact number. Many decision-makers prefer to visit the office to finalize the service.
