eKYC

Each time when financial institutions on-board new customers, there is always immense paper work involved for verification and documentation process. Be it, opening a new bank account, Demat account or buying insurance, filling Know Your Client (KYC) documents have become mandatory. KYC is a client identification program that verifies and maintains records of the identity and address of the investors.

The regulatory authorities 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 other similar happenings.

eKYC

With KGiSL’s e-KYC solution, clients (Banks, Brokers, Mutual Fund or Insurance Providers) can be confident in the accurate assessment, 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 onboarding client.

The e-KYC cuts out on the expense of storage and maintenance as the program stores the documents as images avoiding wear and tear. The automation of the verification procedure by e-KYC will increase the overall staff productivity and efficiency of the organization.

Features

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

Benefits

  • 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
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