There is no escaping the paperwork while investing in financial products. Be it, opening a new bank account, Demat account or buying insurance, filling the Know Your Client (KYC) documents is a mandatory procedure today. KYC is a client identification program that verifies and maintains records of the identity and address of investors.
It directed all banks and financial institutions to put in place a policy framework to know their clients before opening an account. The purpose was to prevent money laundering, terrorist financing, theft and so on.
With KGiSL’s e-KYC solution, clients (Banks, Brokers, Mutual Fund or Insurance Providers) can be confident in the accurate management and storage of documents of identification.
The web-based solution provides users the flexibility to customize the e-KYC requirements as suited and required by the respective regulatory authority.
e-KYC allows organizations to ensure that they have maintained a high level of consistency in due diligence standards by pre-defining the type of identification documents required for every onboard client.
The e-KYC cuts out on the expense of storage and maintenance as the program safeguard documentation as images avoiding wear and tear. The automation of the verification procedure by e-KYC has increased overall staff productivity and efficiency of an organization.
- Easy maintenance of client data
- Workflow, tasks, checklists, triggered alerts for compliance checking
- Secure web-based multi-office access from across countries
- Easy integration with back-office solutions
- Define the type of identification documents required
- 100 % transparent with reports to provide visibility into the process
- Reduces the cost in space-consuming storage units and staffs to handle the files
- Easy retrieval of information
- Complete compliance to KYC regulations
- Document management and tracking system
- Adding modules and menus dynamically
- More flexibility, great control and easy to use
- Unlimited number of users can access
- Data cleansing and enrichment
- A configurable, fast, secure, robust, and highly scalable solution
- Dynamic and configurable reporting
- Automation of the entire documentation process and follow-ups