Cloud KYC System
Our New KYC system is a regular verification process followed by the financial institutions to know their customers properly and avoid any kind of financial fraud and trace out any suspicious behavior. This has replaced the earlier KYC (Know your customer) where there were separate KYC formats for different institutions.
With the introduction of New Central KYC system if you complete KYC verification with any of the financial entities, say a Bank, you don’t need to go through the tedious process of completing KYC with other market entities again.. Your data shall be stored digitally at one central server that is accessible to all authorized institutions and can be obtained as and when required.
Once you complete the process and your application is successful, you will receive a identification number . This number will help you to escape from completing the KYC process again with any different financial entities.
- Convenient for customers to upload their documents in one place
- Unify KYC data across all financial regulators (RBI, SEBI, IRDA and PFRDA) for investors
- Reduced burden of constantly producing and verifying KYC for a new FI
- All institutions will get notifications on any changes in the KYC details
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