CKYC is a central repository of all the KYC records and documents of the investors in the finance sector.
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The CKYC records have to comply with stringent formats to maintain uniformity of data.
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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