Everything you need to know about cKYC – Explained Everything you need to know about cKYC – Explained eKYC cKYC: A Primer KYC is a fairly ubiquitous term in the regulated sector. Know Your Customer or KYC is a requirement for customers to avail the services of businesses in the BFSI sector and is in place to prevent cases of financial fraud including money... Read More
eKYC Explained – A Complete Account Of All Things eKYC eKYC Explained – A Complete Account Of All Things eKYC eKYC What is eKYC? eKYC (Electronic KYC) is a digital customer KYC verification procedure wherein the identifying details of a customer desirous of obtaining services from a regulated business are verified electronically. eKYC primarily involves KYC verification... Read More
Why NBFCs Require A Holistic Approach To KYC Verification Why NBFCs Require A Holistic Approach To KYC Verification eKYC,Video KYC KYC Verification: One size doesn’t fit all Know Your Customer (KYC) procedures are a huge pain point for banks, NBFCs, insurers & several other businesses. These procedures are subject to rapid change, entail huge costs and precipitate huge losses... Read More
SEBI notification now allows paperless investor onboarding SEBI notification now allows paperless investor onboarding eKYC SEBI notification now allows paperless investor onboarding In a circular released on April 24 2020, SEBI has permitted the KYC process for individual investors to be completed online. The circular allows investors to begin an account-based relationship... Read More
IRDAI allows eKYC for insurance companies IRDAI allows eKYC for insurance companies eKYC IRDAI allows eKYC In a press release dated 24 April 2020, IRDAI has permitted a list of insurance companies to avail online Aadhaar verification from UIDAI to verify the KYC information of customers. This is set to have a huge impact on the insurance... Read More
Why you should be onboarding customers with eKYC Why you should be onboarding customers with eKYC eKYC eKYC eKYC is an electronic or digital method for financial institutions and banks to verify the identities of their customers. In recent times, eKYC has become synonymous with Video KYC, which is the process of authenticating KYC information digitally... Read More
RBI issues landmark notification on Video-Based identification for KYC RBI issues landmark notification on Video-Based identification for KYC eKYC Reserve Bank of India (RBI) has issued a notification dated 09th January 2020, officially recognizing the Video-Based Customer Identification Process (VCIP) as a method of customer identification. This comes as a welcome relief to Banks and other Regulated... Read More
How Video KYC is Disrupting Age-Old Methods of KYC? How Video KYC is Disrupting Age-Old Methods of KYC? eKYC,Video KYC Note: RBI(Reserve Bank of India) has issued a notification dated 09th January 2020, officially recognizing the Video-Based Customer Identification Process (V-CIP) as a method of customer identification. Video KYC Solution The recent amendment in The... Read More
New Amendment States ‘Other’ e-KYC Techniques Allowed for e-Signatures New Amendment States ‘Other’ e-KYC Techniques Allowed for e-Signatures eKYC e-KYC Techniques Allowed for e-Signatures:- The Ministry of Electronics and Information Technology has issued a notification amending the Second Schedule to the Information Technology Act, 2000. In a nutshell, Section 3A of the IT Act,2000 specifies that... Read More
GDPR and Its Effect on Indian Companies GDPR and Its Effect on Indian Companies eKYC General Data Protection Regulation:- GDPR stands for General Data Protection Regulation, and it is an act conceived by the European Union on 25th May 2018. This act comes as a protective measure after the recent Cambridge Analytica leak that exposed the... Read More