In May 2021, the Reserve Bank of India (RBI) revised its Know Your Customer (KYC) guidelines to facilitate the on-boarding of new customers by leveraging Video-based KYC. The aforementioned guidelines also provisioned for use of Artificial Intelligence for ensuring a robust Video-based KYC process.

RBIH conducted an internal study titled ‘Video-Based Customer Identification Process (V-CIP): Way forward towards a 100% Presenceless and Paperless KYC’ which was a gap analysis of the existing Video-based KYC process. The study identified several areas of improvement to the current process flow. Recommendations from the study were modelled into a process flow and industry partners were onboarded for a pilot project. The first phase of the pilot project focused on replacing custom and proprietary face-matching algorithms used for Video-based KYC with the Aadhaar face authentication framework as a standard authentication and liveness test framework.