What is Aadhaar Masking?
Aadhaar and its regulations are governed by UIDAI. And as per UIDAI, Aadhaar masking refers to covering the first eight digits of Aadhaar number – in physical or digital form. More precisely, Aadhaar masking refers to concealing the first 8 digits of […]
Bank account verification or penny drop check as is commonly referred to is a way to verify the authenticity of a user’s Bank Account. This is achieved by depositing a small amount (usually a penny and hence the name) – usually INR 1 (one rupee) in the Indian context – which returns the validated bank […]
In the midst of an unprecedented crisis, it is emerging that the future can never really be anything like the past. With physical movements restricted and much less desired, financial institutions must rethink ways to onboard their customers safely and securely. On 09 January 2020, the Indian financial regulator made a remarkable amendment to the […]
Following the comprehensive Video KYC FAQ, here is a quick summary of how to deploy the Video KYC solution into your client onboarding flow to remain compliant with the steps specified by the regulator. The Video KYC process can be […]
1. What is Video KYC
Video KYC allows a regulated entity to open an account-based relationship with a customer without meeting the customer face to face. The customer can, through a video call, chat directly with a Banker, provide all the identity […]
The move removes the need to go into a branch, invite strangers to the house, share paper copies, or wait for days for the account-opening process to be completed. Instead, the customer can, through a stroke of a video call, chat directly with a Banker, provide all the identity documents to verify who they are […]
Identity verification seems like a natural casualty of the times. From a friendly application to a friendly nod from the Banker, the account opening steps have been turned on its head for a generation, maybe more. People scorn at the sound of paperwork and identity proofs, and for […]
‘Know Your Customer’ or ‘KYC’ – as is the popular term for identity verification – follows a citizen like a shadow, throughout life, for a range of rights and services, intricately linked to one’s progress from education to employment to healthcare and finance. Imagine the lack of education for lack of KYC; or lack of […]
What is Aadhaar masking?
As per UIDAI, masking refers to covering the first eight digits of Aadhaar number – in physical or digital form. More precisely, masking refers to concealing the first 8 digits of the Aadhaar Number in your Application and the Aadhaar Card Image (captured as POI or POA).
Lack of identity is an impediment for people to exercise their basic democratic and human rights. Digital identification can help overcome barriers to participation (World Bank Report, 2016).
‘Know Your Customer’ or ‘KYC’, follows a common man like a shadow for a range of rights and services. Insurance, investment, health, education, social welfare […]