In today’s fast-paced digital economy, businesses and financial institutions face the challenge of verifying customer identities quickly, securely and cost-effectively. Traditional Know Your Customer (KYC) processes are often time-consuming, manual and prone to errors, leading to customer churn and compliance risks. Addressing this challenge, Chennai-based startup Hyperverge has emerged with an innovative concept in AI-based KYC and identity verification. It is transforming the way businesses engage with customers.
HyperVerge: AI-powered KYC pioneer
Founded in 2014 by Kedar Kulkarni and Shankar Nag, HyperVergespecializes in deep learning and computer vision technologies to automate identity verification, fraud detection, and document processing. The startup’s AI-powered solutions help enterprises, particularly in banking, fintech, insurance, and e-commerce – ensure regulatory compliance and streamline customer onboarding.
HyperVerge’s key offerings
HyperVerge’s platform uses AI, machine learning (ML), and optical character recognition (OCR) to deliver services that include:
Instant identity verification
Using facial recognition and liveness detection to prevent spoofing.
Extracts data from government-issued IDs (Aadhaar, PAN, passports, driving licenses).
Automated Document Processing
AI-powered OCR extracts and validates data from documents.
Supports multiple languages and global ID formats.
Fraud Detection and Risk Assessment
Detects tampered or forged documents using AI.
Flags suspicious activity to reduce identity fraud.
Seamless API Integration
Businesses can integrate Hyperverge’s KYC solutions into their existing workflows via APIs.
How Hyperverge is transforming KYC onboarding
Traditional KYC processes involve manual checks, delays, and high operational costs. Hyperverge’s AI-based approach helps to avoid:
Faster customer onboarding
Reduces verification time from hours to seconds, improving user experience.
Enables real-time approvals for banking, lending, and telecom services.
Improved accuracy and compliance
Eliminates human errors in data entry and document verification.Ensures compliance with RBI, SEBI, and global AML/KYC regulations.
Cost Efficiency
Reduces manual verification costs by up to 80%.
Scalable for high-volume onboarding (used by 50+ million users globally).
Global expansion support
Works with 200+ ID types across 50+ countries, making it ideal for cross-border businesses.
IndusInd Bank, ICICI Bank, and HDFC Bank are using Hyperverge for digital KYC. Fintech companies like RazorPay and PayU are also using its AI to prevent fraud. Insurance telcos like Airtel and PolicyBazaar are also using it for instant customer verification.
The startup has processed over 500 million verifications and has raised $13 million in funding from investors like Iron Pillar and Zoom founder Eric Yuan.
Hyperverge is at the forefront of revolutionizing KYC with AI, making customer onboarding faster, safer, and more efficient. Combining cutting-edge machine learning and seamless integration, the Chennai-based startup is setting new standards in digital identity verification. As regulatory requirements tighten and digital adoption accelerates, Hyperverge's innovations will play a critical role in shaping the future of secure and automated KYC processes around the world.
