A live video interview when onboarding a new customer, using a new Video-ID technology is deemed as the best method of carrying out ID verification processes. In the European region to which the EU Commission prescribes stringent Know-Your-Customer (KYC) processes, tech innovator HooYu recently launched its Video-ID engine in Germany and Spain.
What is a Video-ID Engine
HooYu’s Video-ID is a program that enables an agent or representative to conduct a live video interview with an onboarding customer via a web browser, whilst simultaneously performing facial biometrics and real-time detection of identification cards and documents like passports and residence permits.
The use of this HooYu product is regarded as a worthy and sound alternative to carrying out ID-verification by asking a customer to download an application just for the purpose of participating in a provider’s ID-verification requirement. The latter method creates a poor user experience that increases the possibility of customers abandoning the onboarding journey altogether.
How Does HooYu’s Video ID Improve Customer Onboarding Experience?
Aside from eliminating the need for customers to download an application, the live video interview conducted by the provider’s agent is faster. In light of its capability to perform facial biometrics and document verification while a live interview is ongoing, customers no longer wait before the provider complete the onboarding process.
To cite an example, a HooYu Video-ID program configured and customised for the German market, enables an interviewer to initiate a Schufa database identity-check as a means of confirming the name, address and birthday of the onboarding customer. It could also conduct mortality checks in conjunction with or independent of the Video-ID interview process.