CKYC is a central repository of all the KYC records and documents of the investors in the finance sector.
The CKYC records have to comply with stringent formats to maintain uniformity of data.
The records are managed by CERSAI. It feeds sensitive data to a variety of government repositories under the PMLA initiative.
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Central
Current Challenges v/s Our Solutions
Process Flow
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Scan the Application form along with POA & POI
Filter out existing CKYC Records: the tool searches through the CERSAI DB & removes existing records
Auto Crop / Identify while processing records the tool auto crops scanned docs
Data Entry: import data from the institution master or enter data manually
Review: QC scanned & cropped images vis-à-vis data entry for each record created.
Approve the records
System will generate files as per CERSAI requirements
Apply Digital Signature on the day’s batch
Push to CERSAI’s SFTP
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Features
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CERSAI Complaint Solution
Cost Effective
Automated & Integrated
Web-based Solution
CERSAI - Compliant Solution
Application has been built as per CERSAI’s guidelines, following the file type & dimensions for customer Photo, POI, POA and format for flat file
Automation & Integration
Application has semi-automated segments that require minimal manual efforts, thus reducing the TAT. Capable of integrating Financial Institution’s database with CERSAI database to maintain customer information & digital copies of POI & POA documents
De-Duplication
Application is capable of automatically screening records in Financial Institution’s database as well as CERSAI’s portal to identify duplicate/already existing customer records.
Web-Based Solution
Web-based application that can be accessed anytime anywhere; thus bringing all stakeholders on a common platform and promoting real-time monitoring
Scalable & Affordable Model
Application is a scalable model that can suit the growing needs of diverse financial entities. It is a cost effective solution that brings all parts of the CKYC process on a single platform