India’s leading RegTech startup Signzy has introduced a Video Conferencing (VC) tool for assured, private one-to-one communications between banks, and other financial institutions on one hand, and their customer on the other. It has been outlined for allowing front-end processes that entail a face-to-face conversation with the customer. Signzy VC tool enables the use of Artificial Intelligence to enhance security and reliability and focuses on delivering absolute business continuity for banks, Financial Institution (FI)’s, and other organizations during the existing national lockdown.
Ankit Ratan, the co-founder of Signzy stated that generic Video Conferencing apps and tools are simply not drafted for banking grade security and privacy, and are thus unsuitable for use in the financial services industry’s customer-facing effort. Signzy’s Video Conferencing tool, on the other hand, conveys industry-leading safety and privacy for one-to-one communications and is, therefore, best suited for banks, insurance companies, and other organizations where security and quietness of communication is an essential requirement. Signzy’s Video Conferencing tool includes countless layers of checks and balances including, Artificial Intelligence (AI) enabled video forensics and recognize document checks that get rid of security gaps by combining human study with both software, Machine Learning (ML) and Artificial Intelligence (AI) enabled learning.
The tool ensures perfect communication and end-to-end encryption along with securing data leakage. For example, a bank can specify a disable client-side video controls during a call, which would prevent a customer from switching off the video while the call is in progress. Also, the Artificial Intelligence (AI) technology ensures that all calls can be inspected and any breach in the protocol can be readily captured. Ankit also added that as this has been developed with banks as deliberate users, no other third party software currently matches this level of security. In the wake of the global COVID-19 epidemic and India’s nationwide lockdown, banks have been inspiring their customers to use digital channels for transactions as far as possible. Many banks have adopted video Know Your Customer (KYC) as a 100% digital Know Your Customer (KYC) process for new customer onboarding and customer verification. Signzy’s VC tool allows banks, insurance companies, and other financial services contributors to go a few steps more and use secure video conferencing for other processes that otherwise entails face-to-face interface with the customer, inside the branch or at the customer’s property. For Example, client relationship managers can organize a secure video call with their clients for processing certain types of financial transactions.
