The invention discloses an integrated multifunctional video recorder and an application method thereof. The integrated multifunctional video recorder comprises an external shell and an internal circuit; the internal circuit comprises a control system, a high-definition camera A, a high-definition camera B, a certificate photographing module, a 2nd-generation ID card scanning module, a storage module, an authority management module, a peripheral equipment access module, a network access module and an audio input module; the output ends of high-definition camera A, the high-definition camera B, the certificate photographing module, the 2nd-generation ID card scanning module and the audio input module are connected with the control system; the storage module, the authority management module, the peripheral equipment access module and the network access module are connected with the control system. The external shell is one-piece formed. The integrated multifunctional video recorder of the invention could be used for recording the entire process of business handling by using a plurality of manners such as picture recording, certificate information recording and audio recording so as to be convenient for follow-up check to ensure legal interest of a financing institution and a client. The integrated multifunctional video recorder of the invention is convenient for moving and eliminates complicated systems and cables.