KYC Video | An Effective Solution for Secured Real Estate Transactions

The real estate industry is extremely sensitive to illicit external threats. Imposters use unauthorized methods to manipulate the property documents of legitimate property holders. They impersonate the identities of legitimate property holders and steal the information, which is later used to illicitly make property transactions. They commit extensive property crimes, which is why 1,076 cases of stolen property trafficking were observed in Canada in the year 2022. It is essential for the real estate industry to verify the customer’s identity through automated solutions. KYC video verification can ensure real-time verification to streamline real estate transactions.     

KYC Video Identification – Streamline the Real Estate Property Dealing 

KYC video verification is a digital method of verifying the customer’s identity by incorporating biometric liveness detection and automated face ID checks. KYC video services can improve the real estate industry’s business operations by utilizing digital verification solutions to provide real-time identity authentication. It checks the buyer’s and seller’s identity documents through online video call verification platforms. Real estate companies must employ automated video verification solutions to effectively conduct the identity analysis of their customers.  

The KYC video verification system begins when the verification examiner analyzes the property’s buyer and seller. They are required to submit their identity documents, which are stored in the real estate company’s data directories. These documents are compared with the customer’s live images during the video verification process. To validate the customer’s authenticity, they must make certain facial movements that validate their authenticity. KYC video is the ultimate solution to ensure protection from imposter’s illicit property scam attempts.      

E-KYC Video Verification – Mitigate the Property Frauds with Advanced Biometric Face Checks 

Real estate property scams can occur due to many reasons. The imposters are involved in the manipulation of the property documents. They steal sensitive documents and use automated technological solutions to manipulate and alter the underlying information. They often collaborate with real estate agents, which allows them to conduct severe identity theft attempts. Property scammers make multiple transactions through different banks, that makes the detection of illicit funds difficult. They invest these funds in real estate property to legalize their illicit transactions. It is essential to minimize these frauds, which can effectively be done through video verification services. 

KYC video verification uses advanced deep learning and biometric verification services that allow them to screen out illicit entities during the document registration process. This service checks the legitimacy of the property documents before customers proceed with the property transfers. KYC video-verified solutions can scan these documents using automated OCR services that store the information in digital format, which can essentially be detected through machine learning verification sources.     

KYC Video Identification Check – Ensure Regular Monitoring of Real Estate Agents

Video verification is carried out through a biometric authentication process. Biometric verification reduces the need to use alphanumeric passwords, which can easily be breached by imposters. Video verification ensures identity security as it can only be accessed by legitimate entities. real estate companies can use these practices to protect property holder information from external access. They must also validate the authenticity of the agents, as they can engage in illicit property transactions. Their identities must be monitored regularly to mitigate the existence of fraudulent activities. KYC verification can monitor their risk profiles by comparing the document information with official watchlists.       

KYC Video Call – Identify Illicit Activities in Real Estate Transactions 

Video identification is a reliable source of identity verification. It can seamlessly be incorporated in the real estate sector because it can identify any illicit entity that may be involved in unauthorized property transactions. Video identification can examine the property holder’s risk profiles through an extensive examination of their property documents. It can identify whether the funds used in the purchasing of property are legitimate or not because it identifies the source of funds as well. The KYC compliance ensures property security as it prevents money laundering attempts and mitigates the existence of risky customers.   

KYC Video Verification – A Seamless Property Transaction Experience  

Video verification checks provide a seamless property transaction experience as they validate the authenticity of all the potential buyers and sellers of a property. They allow real estate companies to check the authenticity of the agents to eliminate the presence of illicit monetary funds transfers. KYC verification ensures privacy of the property documents and it enhances the customer’s verification experience. It allows customers to trust the service providers for secure property transactions.   

Summing It Up 

KYC video provides A digital verification solution through video calls that can streamline property dealing in the real estate sector. Real estate companies regularly deal with various property transfers, so they authenticate the identities of all the buyers and sellers to eliminate the existence of scammers in this industry. The KYC-compliant video verification ensures transparency of property documents and provides a secure verification experience for the customers, improving the conversion rate for real estate companies. 

Leave a Reply

Your email address will not be published. Required fields are marked *