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SBI partnered with HyperVerge

Published on May 22, 2021
Current Context: The State Bank of India (SBI) partnered with HyperVerge with an aim to obtain its technology named ‘Video KYC Solution’.
SBI partnered with HyperVerge
  • This technology will allow the bank to onboard its customers online under COVID-19.
  • The technology will help SBI to get ten times more improvement over its regular video KYC processes.
  • The ‘Video KYC Solution’ of HyperVerge is managed with a higher accuracy level of 99.5%. This high rate of accuracy will provide convenience in digital banking services to the customers of SBI.
  • Also, the ‘Video KYC Solution’ of HyperVerge is in compliance with the norms set by RBI.
  • It performs a pre-qualifiers check for name, address and XML Signature, generates high throughput based scheduled video calls, AI-based Liveness, OCR and facematch.
  • Static Part: 
    • HQ of SBI: Mumbai
    • Tagline of SBI: The Banker to Every Indian
    • Chairman of SBI: Dinesh Kumar Khara
    • HQ of HyperVerge (India): Bangalore

Question: 

Q.1 Which bank partnered with HyperVerge with an aim to obtain its technology named ‘Video KYC Solution’?
a. Karnataka Bank
b. SBI
c. Kotak Mahindra Bank
d. IDBI Bank

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