Mastercard has partnered with Bengaluru-based Signzy to use the latter’s video-based KYC (know your customer) solution for its banking customers. “Signzy’s AI and ML has well-established links to many KYC databases in India which allows seamless support for e-KYC and Video-KYC. Therefore, the platform also solves the problem of many SME’s in India who may not have all the KYC documents,” Rajeev Kumar, senior vice president for market development, South Asia at Mastercard, said. Mastercard has previously invested in Signzy. Signzy’s video KYC service uses artificial intelligence and machine learning to prevent unauthorised system intrusion or attempted fraud. It can also deal with high volumes of video KYC transactions, Mastercard said, but didn't specify the upper limit. Kumar also said that Mastercard and Signzy are assisting banks to on-board small and medium businesses in remote corners of the country for…
