Suryoday Small Finance Bank has partnered with technology firm HyperVerge to implement an AI-driven Video KYC system as part of its digital banking operations. The bank said the move is intended to improve *digital onboarding, regulatory compliance, and operational efficiency* while meeting regulatory and data security requirements, particularly as more customers access banking services remotely.
According to the bank, the Video KYC system enables verification agents to complete nearly twice the number of approved calls per day compared with earlier processes. The increase in throughput allows the bank to handle higher onboarding volumes without adding operational staff, while maintaining consistency in customer interactions. The system has been integrated into the bank’s existing digital channels and is being used across products that require identity verification.
How will the partnership help?
The bank said the partnership is part of a broader effort to strengthen its digital infrastructure and reduce friction in account opening and verification workflows.“At Suryoday Small Finance Bank, we focus on using technology to deliver secure and convenient banking experiences,” said Baskar Babu, Managing Director and Chief Executive Officer of Suryoday Small Finance Bank. “The partnership with HyperVerge supports our effort to make banking simpler and more accessible.”
Vishal Singh, Chief Information Officer and Head of Digital Banking at the bank, said the selection process prioritised operational efficiency alongside customer experience. “We needed a solution that could improve conversions without compromising customer experience,” Singh said. “HyperVerge worked closely with our teams and delivered a Video KYC system that helps us onboard customers faster while maintaining confidence in data security and regulatory compliance.”
The bank said the Video KYC process reduces manual steps while retaining oversight, allowing agents to complete verifications with fewer delays. It also said the system helps standardise verification quality across locations and use cases.
Compliance and data protection central to implementation
Suryoday Small Finance Bank said compliance and data protection were key considerations in adopting the Video KYC platform. According to the bank, customer data collected during verification is stored securely and can only be accessed by the bank, in line with regulatory requirements and internal controls.
HyperVerge said the Video KYC platform was designed for regulated financial institutions and supports compliance requirements alongside operational needs. “The partnership reflects our focus on Video KYC systems that support higher conversions, compliance, and scalable operations,” said Kedar Kulkarni, Chief Executive Officer of HyperVerge.
The bank described the partnership as part of its ongoing digital initiatives aimed at improving service delivery while maintaining oversight and control. It said the system is expected to support future growth in digital onboarding, particularly as more customers choose app-based and remote banking services over branch visits.
Suryoday Small Finance Bank said it will continue to assess technology-led solutions that improve operational efficiency while keeping customer experience and regulatory obligations in focus, especially across onboarding and verification processes conducted outside physical branches.
