The telecommunication industry is going through a massive transformation phase of development, mainly to equip itself per the latest technological demands and customer needs. While this has given the industry a lot of opportunities, the telecos around the globe are facing a lot of challenges. Moreover, to gain a competitive edge, they need to emphasize providing personalized solutions to their customers.
Some of the major challenges faced by telecos today include:
Know Your Customer, or KYC ensures secured processes associated with online transactions through the power of the internet and camera/smartphones to carry out live verification. These services rely on AI to carry out verifications/authenticity of pictures and documents that act as proof of identity. So, when a customer enters a credit card number to buy a SIM or other service, he is asked to verify his identity via the digital KYC service provider.
Such online services are provided by various telecommunication giants such as Verizon, T-mobile, and so on. However, these days various third-party online verification service providers provide a complete gamut of KYC services.
FinBraine’s IDBraine is a secured, intelligent unified digital KYC solution that offers identity verification service in an easy, simple and agile manner. The two types of KYC offered – Biometric KYC and In-App KYC helps telecoms to verify the users before they onboard them. It features intelligent verification and true identities through live data verification and instant data extraction, and validation.