How to Build a Video KYC System for Cooperative Banks in India

Cooperative banks in India, regulated by the Reserve Bank of India (RBI), are required to implement the Video Customer Identification Process (V-CIP) as part of their Know Your Customer (KYC) compliance, which involves a live video call for real-time identity verification. The process mandates the use of the VideoSDK platform for building a production-ready video KYC system, which includes a React Native app for customers and a React-based interface for bank agents. The system facilitates document capture and identity verification through OCR, face matching, and liveness checks, while cloud recording ensures compliance with RBI's data retention guidelines. VideoSDK's features, such as Geo Fencing and end-to-end encryption, enhance security, although the latter may conflict with mandatory recording requirements. The implementation is designed to accommodate rural bandwidth constraints and supports multilingual sessions, with cooperative banks needing to adhere to specific data storage and compliance protocols as outlined by the RBI.