Digital Aadhaar KYC: How Aadhaar Plus provides KYC compliant Aadhaar Verification

What is Aadhaar Plus – Aadhaar Verification?

IDcentral’s flagship Aadhaar Card Verification product offers an advanced solution for seamless KYC (Know Your Customer) journeys, ensuring a seamless and hassle-free experience for end users. We understand that clients may encounter occasional service disruptions, which can affect the OKYC (Offline KYC) and e-KYC (Electronic KYC) processes. To overcome these challenges, our company provides an innovative solution that guarantees uninterrupted customer journeys on your platform by using multiple workflows to ensure a fail-proof solution.

Seamless KYC Journey Options

Our solution offers customers the flexibility to complete their KYC journey using different channels, ensuring a smooth experience throughout. The primary channel is the Aadhaar Offline KYC, where users can effortlessly navigate through the required steps. In the event of any service disruptions, our system automatically routes customers to an alternative channel to ensure a continuous process.

Secondary Channel for Uninterrupted Journeys

As part of our comprehensive strategy, we have integrated a secondary channel to provide an alternative pathway for users. This channel ensures that customers can successfully complete their KYC process without any disruptions. It offers a seamless user journey and guarantees uninterrupted verification, regardless of any temporary service issues.

What are the use cases of the Aadhaar Plus API?

Customer onboarding: Streamline the KYC journey for new customers, ensuring a seamless and efficient digital onboarding process from the start.
Account verification: Verify user details and ensure the authenticity of customer accounts, minimizing the risk of fraudulent activities.
Financial transactions: Enable smooth and secure financial transactions by seamlessly integrating KYC processes into your platform.
Access to services: Grant customers access to exclusive services or features once their KYC verification is complete, enhancing user engagement.
Compliance requirements: Meet regulatory and compliance requirements by implementing a robust KYC solution that seamlessly integrates with your existing systems.
Document verification: Streamline the verification of customer documents, reducing manual efforts and ensuring accuracy.
Digital identity verification: Identity Verification of customers online, ensuring the integrity and security of user accounts.
Seamless user journeys: Provide customers with uninterrupted journeys by automatically routing them to alternative channels during service disruptions.
Personalized recommendations: Offer personalized recommendations based on customer data collected during the KYC process, enhancing user engagement and satisfaction.
Enhanced security: Implement additional security measures, such as OTP generation and submission, to ensure secure access and verification.

Ensuring KYC Compliance with Aadhaar Plus

How OKYC is compliant

Reserve Bank of India (RBI) has made Aadhaar OKYC compliant. This means that Aadhaar can be used for online KYC (Know Your Customer) verification. The RBI made this decision in order to make the KYC process more convenient for customers and to reduce the need for physical documents. Aadhaar is a 12-digit unique identification number issued by the Unique Identification Authority of India (UIDAI). It is a secure and reliable way to verify a person’s identity.

The RBI’s decision to make Aadhaar OKYC compliant is a positive step for the Indian financial system. It will make it easier for customers to open bank accounts and other financial products, and it will also help to reduce fraud and money laundering.

Here are some of the benefits of using Aadhaar for OKYC:

It is more convenient for customers. Customers do not have to physically submit their documents to the bank or financial institution. They can simply provide their Aadhaar number and the bank or financial institution can verify their identity electronically.
It is more secure. Aadhaar is a secure and reliable way to verify a person’s identity. This helps to protect customer data from fraud and identity theft.
It is more efficient. The OKYC process is faster and more efficient when Aadhaar is used. This saves time for both customers and banks or financial institutions.

If you are a customer of a bank or financial institution, you should consider using Aadhaar for OKYC. It is a convenient, secure, and efficient way to verify your identity.

The RBI has also issued guidelines for banks and financial institutions on how to use Aadhaar for OKYC. These guidelines are designed to ensure that the privacy of Aadhaar data is protected.

How DigiLocker is compliant

Reserve Bank of India (RBI) has made Digilocker compliant for the Know Your Customer (KYC) process. This means that e-documents issued by issuing authority to the customer’s Digital Locker account will now be accepted in the KYC process.

The RBI made this decision in order to make the KYC process more convenient for customers and to reduce the need for physical documents. Digilocker is a government-backed platform that allows citizens to store their personal documents online. This makes it easy for customers to access their documents whenever they need them, and it also helps to reduce the risk of losing or damaging documents.

The RBI’s decision to make Digilocker compliant for KYC is a positive step for the Indian financial system. It will make it easier for customers to open bank accounts and other financial products, and it will also help to reduce fraud and money laundering.

Here are some of the benefits of using Digilocker for KYC:

It is more convenient for customers. Customers do not have to physically submit their documents to the bank or financial institution. They can simply upload their documents to Digilocker and the bank or financial institution can access them electronically.
It is more secure. Digilocker uses a secure system to store documents. This helps to protect customer data from fraud and identity theft.
It is more efficient. The KYC process is faster and more efficient when documents are stored in Digilocker. This saves time for both customers and banks or financial institutions.

If you are a customer of a bank or financial institution, you should consider using Digilocker for KYC. It is a convenient, secure, and efficient way to submit your documents.

RBI’s Stance on KYC in 2023

RBI circular on KYC says the following:

Banks and FIs may accept electronic copies of documents uploaded by the customer in DigiLocker or any other similar government-authorized e-KYC platform.
They may also accept documents through NSDL e-Sign or the ‘Know Your Customer (KYC) Registration and e-verification’ facility offered by the Central KYC Registry (CKYC) of UIDAI.
Banks and financial institutions can now use Aadhaar-based OKYC and Digilocker for KYC verification.
To use Aadhaar-based OKYC, customers will need to provide their Aadhaar number and demographic details to the bank or financial institution.
To use Digilocker for KYC, customers can allow entities to access e-document of Officially Valid Documents (OVDs) from the Digilocker storage
The RBI has also issued guidelines for banks and financial institutions on how to use Aadhaar-based OKYC and Digilocker for KYC verification. These guidelines are designed to ensure that the privacy of Aadhaar data is protected.

Conclusion

Aadhaar Plus is the ultimate solution for seamless and secure Aadhaar verification, revolutionizing the KYC process. With our cutting-edge technology and advanced features, we offer a hassle-free experience for businesses and customers alike. By adhering to strict KYC compliance standards, we ensure the authenticity and integrity of user identities, mitigating risks and enabling secure transactions. With Aadhaar Plus, businesses can streamline customer onboarding, enhance security, and meet regulatory requirements effortlessly. Join countless organizations that have already benefited from Aadhaar Plus and unlock the power of seamless Aadhaar verification today.

Try IDcentral’s Aadhaar verification API: Aadhaar PlusRequest a demo

Prashant Bharam

Driving product strategy at IDcentral, Prashant delivers innovative solutions in the digital identity space with expertise in customer identification, digital identity, anti-money laundering, fraud detection, digital onboarding, and data analytics.