What Is Video KYC (VKYC)? Meaning & Process

The process of verifying identity in financial services has moved far beyond paperwork and in-person visits, evolving into a faster and more secure digital model. Video KYC, also known as video-based KYC, enables customers to complete their entire verification process online using a smartphone or computer. This has made it easier to open accounts or apply for products like credit cards and personal loans without leaving home. By combining convenience with compliance under RBI KYC norms, video KYC is quickly becoming the industry standard.

In this article, we explain the meaning of video KYC, how it works, its benefits, and why it offers a smarter alternative to traditional KYC methods.

Video KYC Online

Video KYC (video-based Know Your Customer) is a digital process that lets financial institutions verify your identity through a secure video call or audio-visual interaction. Instead of submitting physical copies of documents, you can simply show them to an authorised officer. The entire session is recorded for compliance, ensuring safety and transparency.

Key points to know about this method of online KYC check:

• It is a form of remote identity verification, making the KYC process faster and paperless.
• Accepted documents usually include Aadhaar, PAN, passport, or voter ID.
• The process follows strict RBI KYC norms, ensuring security and regulatory compliance.

By enabling you to verify KYC online, it removes the need for multiple branch visits while still ensuring complete reliability.

Why Do You Need KYC?

KYC compliance is a regulatory requirement. Without completing it, you cannot access lending services such as personal loans. KYC ensures that institutions confirm your identity, prevent fraud, and maintain compliance with the law.

Here’s why completing KYC is essential:

1. It validates your identity and address for financial institutions.
2. It reduces the risk of fraud and identity theft.
3. It ensures smoother access to financial products like savings accounts, credit cards, or loans.

Tip: Keeping your personal loan documentation up to date and accurate enhances the convenience of the online KYC verification process and helps speed up loan processing.

What Are the Benefits of Video KYC?

Video KYC offers multiple advantages over the traditional verification process. For both customers and financial institutions, the benefits are clear:

• No Physical Paperwork: All documents are submitted digitally, making the process efficient.
• Faster Processing: Loan applications and account openings can be processed more quickly.
• Secure Process: Advanced technologies like online biometric verification and facial recognition strengthen security.
• Convenience: Customers can complete KYC anytime, anywhere, with just a smartphone and internet connection.

Tip: While documentation and KYC are essential, meeting the personal loan eligibility requirements is equally important. Reviewing them beforehand increases your chances of approval with more favourable terms.

What Are the Requirements for Video KYC?

To successfully complete the video KYC process, you typically need:

• A valid government-issued ID to verify identity and address (such as Aadhaar, PAN, Passport, or Voter ID)
• A stable internet connection
• A smartphone or computer with a functioning camera and microphone
• A quiet, well-lit environment to ensure clear communication

During the session, an authorised officer may ask you to answer basic questions or display original documents to confirm authenticity. These simple requirements make it convenient for customers to complete their KYC check online quickly and securely.

What Are the Steps for the Video KYC Process?

The video KYC process is designed to be simple and user-friendly. Here’s how it typically works (though exact steps may differ depending on lender policies):

1. Pre-registration: You provide basic details (such as name, address, and contact information) to the financial institution.
2. Scheduling the Call: A date and time are fixed, or in some cases, you can begin the process instantly.
3. Identity Verification: On the video call, you confirm your details, answer basic questions, and display original documents if required.
4. Record-keeping: The session is recorded to meet compliance and auditing requirements.
5. Approval: Once verified, your KYC is approved, and your application proceeds.

This smooth process ensures that your application, such as for a personal loan, is not delayed by physical verification.

Difference Between Video KYC and Traditional KYC

The difference between video KYC and traditional methods is as follows:

Conclusion

Video KYC has changed the way lending institutions verify identities, making the process faster, safer, and far more convenient than ever before. For customers, it means no physical paperwork, minimal delays, and quick access to financial services like personal loans.

At SMFG India Credit, you can verify your identity and share address details easily through well-known methods such as CKYC, Offline Aadhaar XML-based KYC, or DigiLocker. With attractive personal loan interest rates starting at 13%* per annum, financing of up to INR 30 lakhs*, and flexible repayment tenures of up to 60 months, achieving your financial goals becomes simpler.

Estimate your monthly instalments using our personal loan EMI calculator and apply online today.