As an initiative to strengthen digital banking functions, Suryoday Small Finance Bank We partnered with hyperbarge expand AI-powered Video KYC (VKYC) Solved. The partnership aims to modernize the bank’s customer onboarding process while ensuring strong regulatory compliance and data security.
The implementation of advanced VKYC technology is expected to increase efficiency, improve customer experience and support the bank’s digital growth strategy.
What is Video KYC (VKYC)?
Video KYC is a digital identity verification process that allows banks and financial institutions to complete customer onboarding. live video interaction instead of physical verification. It has been approved by regulators and is widely used in digital banking to make account opening faster and more convenient.
AI integration automates checks such as face matching, document verification, and fraud detection, further streamlining the process.
Key benefits of AI-powered VKYC solutions
Strengthening regulatory compliance
This solution is designed to meet regulatory requirements for digital onboarding. By using AI-driven verification and structured processes, banks ensure that customer identity verification is accurate and compliant.
Improving work efficiency
The new VKYC system allows banks to: Increase onboarding volume without increasing operational costs. Automation reduces manual work and speeds verification, allowing banks to serve more customers efficiently.
Improving customer experience
Customers can complete the KYC process remotely through a simple video call, eliminating the need to visit a branch. This makes onboarding faster, more convenient, and user-friendly.
Improving agent productivity
One of the main benefits of the new system is increased employee productivity. With an AI-powered VKYC solution, you can:
- Each agent can complete Almost double the number of confirmed calls per day compared to the previous workflow
- By speeding up verification, higher conversion rate
- Agents can focus on quality interactions instead of repetitive manual tasks.
This improves performance and speeds up customer onboarding.
Focus on data security and privacy
Data protection is a key feature of the solution. VKYC system guarantees:
- Your personal data is kept securely
- Access to data is restricted and controlled
- have access to information Suryoday Small Finance Bank only
Strict privacy controls strengthen the Bank’s commitment to regulatory standards and customer trust.
Collaboration with HyperVerge
hyperbargeWe worked closely with Suryoday Small Finance Bank, a leading AI technology company, to customize the VKYC solution to suit the bank’s needs. This partnership focused on delivering:
- Accelerate customer onboarding
- High verification success rate
- Full compliance with regulatory standards
This partnership reflects how fintech innovation can support banks to expand their digital operations securely and efficiently.
leadership perspective
This initiative was carried out under the leadership of: Mr. Bhaskar Babu, Physician and CEO, Suryoday Small Finance Bankhas been driving the bank’s digital transformation efforts. In terms of technology, Kedar Kulkarni, HyperVerge CEOis leading the company in providing AI-powered solutions to financial institutions.
