Residence verification on video for loans

Residence verification asks a simple question: does the borrower actually live where the application says? For lenders, a wrong address means a borrower who cannot be found when repayments stop. Traditionally an agent visits the house. Video verification can now do much of the same job.

What a residence check should confirm

1. The borrower lives at the declared address
2. The type of house: owned, rented or family-owned
3. Who else lives there, and how long the borrower has lived there
4. The neighbourhood and visible signs of living there
5. That the live location is where the application says
6. Anything that conflicts with income or documents declared

The problems with traditional visits

• Scheduling and travel take days, and the borrower may not be at home.
• Reports are short notes and a few photos, hard to check later.
• Quality depends on the individual agent.
• Cost is high in smaller towns and for loans of modest size.

How a video check works

1. The borrower gets a link and joins the call from home.
2. They agree to the check and the call is recorded.
3. Live location and time are captured.
4. The borrower walks through the house, shows the entrance, the name plate or utility bill and the surroundings.
5. Questions cover family members, how long they have lived there and the nature of the home.
6. The distance between the declared address and the live location is noted.
7. A reviewer examines the recording and flags anything unusual.

What to watch for

• Live location far from the declared address
• A borrower who will not show the house, or avoids showing the entrance
• Answers that do not match the application
• Someone else prompting the borrower's answers

How Praman helps

Praman by SatyaSakshi runs the whole flow on a WhatsApp video link. Location, time, photos and the recording are saved in the case. Instant checks for PAN, bank account name and, where needed, business details can be added alongside. Credit managers see one report, and field visits can be kept for the cases that genuinely need them. Lenders can use the platform themselves or have SatyaSakshi run verifications as their vendor.

Frequently asked questions

Related: how Praman handles this for businesses · all instant checks

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