How Fi-Money Built an In-App Video KYC with Zero Drop-Off for NRI Onboarding Using VideoSDK How Fi-Money Built an In-App Video KYC with Zero Drop-Off for NRI Onboarding Using VideoSDK

Industry

BFSI

Headquarter

Bengaluru

Products used

Audio & Video SDK

Cloud Recording

Geo-fencing

Cloud proxy

Fi Money is a modern neobank tailored for India’s digitally savvy professionals. In partnership with Federal Bank, Fi offers zero-balance savings accounts, debit cards, UPI, mutual fund investments, and instant personal loans through NBFC collaborations—all delivered through a sleek, mobile-first experience. When tasked with streamlining their NRI onboarding operations and building a compliant, secure, and customer-friendly Video KYC process to meet RBI regulations, Fi Money turned to Video SDK. The result? A scalable, developer-friendly solution that accelerated their go-to-market and ensured a frictionless experience for users and compliance teams alike.

CHALLENGE

Streamlining NRI Onboarding Video KYC with Scalable, Compliant Solutions

Fi-Money, a fintech platform offering banking and financial services, was exploring new ways to onboard Non-Resident Indian customers looking to open NRO/NRE bank accounts in India. This initiative, in partnership with a major Indian bank, required a compliant, high-quality Video KYC platform.

Their existing vendor did not support the required custom flows. An internal solution using WebRTC and AWS infrastructure was attempted, but proved too complex and time-consuming to meet their go-to-market goals. Building custom mobile/web SDKs, ensuring compliance, and handling low-latency infrastructure presented significant engineering challenges.

"VideoSDK gave us a plug-and-play engine to deliver compliant, high-quality video KYC. We didn’t need to build everything from scratch yet had full control. It saved us months of dev time and helped us go live with confidence"

Sakthi ,

Engineering Lead, Fi-Money

SOLUTION

Scalable & Compliant Video KYC

Fi-Money turned to Video SDK after evaluating multiple third-party providers. With comprehensive documentation and seamless developer experience, the engineering team built a working POC within a day even before reaching out to the VideoSDK team.

Key capabilities that stood out:

Network adaptability: Auto-adjusting video quality and protocol fallback (UDP and TCP.) to ensure smooth user experience even on low bandwidth.
Remote control features: One party could control camera toggling and other settings on the other side.
High-quality video recording and HD snapshot capabilities for compliance.
Event pipeline for real-time notifications and interactions.
Customizable storage: All recordings and data routed to Fi-Money’s own object store, ensuring full compliance with banking regulations.

When integration hurdles emerged (e.g., restricted banking network environments, IP/protocol whitelisting), the Video SDK team provided hands-on support, coordinating with bank IT teams and resolving issues quickly.

Fi-Money’s Success with VideoSDK

1 Day

POC Completion Time

POC completed in just one day, accelerating go-to-market and enabling instant testing.

1 Week

Full Integration Timeline

Full integration completed within a week, making Video KYC production-ready quickly.

2X Faster

New Use Case Experimentation

Enabled rapid experimentation for new banking and loan issuance use cases that would have taken months internally.

0% Drop-Off

Reliable Video KYC Sessions

Low-latency video ensured smooth KYC verifications, even on constrained networks, improving completion rates.

ROI DELIVERED

Drop-Off Rate

Recording Delivery

<10 secs

v-KYC Completion Rate

55 secs

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