Aadhaar eKYC is a paperless Know Your Customer (KYC) process, wherein the Identity and Address of the subscriber is verified electronically through Aadhaar Authentication.
It can be used as an alternate to the current KYC process which is done on the basis of physical photocopies of the original documents (ID proof and Address proof).
Wherever a customer is required to submit any document for authorization, eMudhra's eKYC gateway can be used. Banks, Financial Institutions and various other agencies can use the eKYC gateway for customer authorization, thereby reducing cost and improving customer experience.
From a business perspective, eKYC would change how business is done in India. eMudhra's eKYC aims to to aid in the digital transformation of the whole country and improve the ease of doing business. eKYC will significantly accelerate the process of customer, employee or vendor onboarding by any organization and ease the process of carrying out online transactions anywhere, anytime. Thus, it will result in significant cost reduction and faster turnaround time for all transactions leading to a cashless society.
Advantages of eKYC:
According to the Identity Verification Guidelines of CCA, the normal KYC process requires paper documents to be submitted, which should be attested by a Gazetted Officer / Bank Manager / Post Master. Subsequently the CA should also carry out Mobile verification, Email verification and Video verification (in case of class 3) of the subscriber against the details provided in the application form.
Using eKYC, the hassles and the delays of attestations and verifications are brought to a minimum, thereby ensuring faster processing.
eMudhra offers eKYC service to your application, through eMudhra eKYC Gateway.
ASPs would also be able to make eKYC transactions. eMudhra offers an online interface where ASPs (Application Service Providers) can view an Aadhaar holder’s eKYC information. This service allows the ASP to perform eKYC and get the Aadhaar holder’s eKYC information through OTP authentication.
Prerequisites for eKYC Gateway
- You must have a valid enterprise account in emSigner
- You must have permission to access the KYC gateway (System-level security settings)
- You must have a developer environment/hosting server to integrate third-party applications
- You must have an Internet connection to communicate with the KYC gateway