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CENTRALISED KYC REGISTRY
(CKYC)

Centralized repository of KYC records of the individuals
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business CHALLENGES

CKYC collects (Stores) and verifies information only once and distributes it to specific client-chosen Telecom Operators, BFSIs, NBFCs and other industries.

Extensive Reporting

Increasing Regulatory Compliances

Time taking Manual Process

High Churn of customers

Identity Theft

Cyber Terrorism

Money Laundering

Current State of KYC in the countries where there is no CKYCR

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  • National ID's are present with database but without any centralised access to it
  • Branch/Company/Entity level different eKYC solutions and formats used in the country
  • KYC checklist is validated for completeness as per customer type at Business/Branch Level
  • No Centralised System for Data repository, Storing, retrieval of data ,safeguarding of data and real time authentication
  • No Mandate of Biometric Linked to each National ID/Driver’s license and others
  • No monitoring of individual linking to Sim Cards issued /Wallets used/Bank Accounts used to individual ID

KEY FEATURES

Finbraine’s CKYC Registry solutions talk to Government Institutions and Regulatory bodies utilizing APIs

Prevents identity theft, financial fraud, money laundering, and terrorist financing.

saves user from repeated KYC processes, document submission with other institutions after registering with CKYC.

Information stored in CKYC registry is accessible to institutions. Verified users can invest in mutual funds or insurance.

Individual records are accessible to Government bodies, banks, Mutual Fund and Insurance Companies, Brokers etc

  • CKYC introduces mutualisation of costs across multiple FIs ,Telecom Operators, Banks and others.
  • Entities can stay focused on their core business of serving their customers
  • Inter-usability of KYC records across the financial sector
  • Convenient for customers to upload their documents in one place
  • Unify KYC data across all regulators
  • Reduced burden of constantly producing and verifying KYC for a new Entity and incurring the cost of Customer On-boarding
  • Comprehensive integrated solution helps manage the entire customer KYC requirements for Government
  • Data extraction – automatically extract information from all client provided documents
  • Application to automatically upload KYC details onto the CKYCR application
  • Interface with Government KYC data repository and convert the proprietary data into the CERSAI’s bulk upload format
  • No duplication of work
  • Generation and better control of management information
  • Integration of client data repository and the CKYCR application for real-time search and download of client information
  • Secured high performance – capable of processing daily requests of millions of users API-based search and download solution
  • Whitelisting of Internet protocol (IP) address for both Entities and the CERSAI
  • Sharing of the public key for decrypting messages
  • Request for search/download of client KYC from
  • Response from the CKYCR for the request initiated by any Entity Benefits of the API-based search and download solution
  • Promotes a paperless environment and eliminates paper verification, movement and storage
  • No risk of forged documents
  • Quick, real-time results

Financial Institutions Convenience

  • CKYC introduces mutualisation of costs across multiple FIs ,Telecom Operators, Banks and others.
  • Entities can stay focused on their core business of serving their customers
  • Inter-usability of KYC records across the financial sector

User experience

  • Convenient for customers to upload their documents in one place
  • Unify KYC data across all regulators
  • Reduced burden of constantly producing and verifying KYC for a new Entity and incurring the cost of Customer On-boarding

Automated bulk upload solution

  • Comprehensive integrated solution helps manage the entire customer KYC requirements for Government
  • Data extraction – automatically extract information from all client provided documents
  • Application to automatically upload KYC details onto the CKYCR application
  • Interface with Government KYC data repository and convert the proprietary data into the CERSAI’s bulk upload format
  • No duplication of work
  • Generation and better control of management information

API Integration

  • Integration of client data repository and the CKYCR application for real-time search and download of client information
  • Secured high performance – capable of processing daily requests of millions of users API-based search and download solution
  • Whitelisting of Internet protocol (IP) address for both Entities and the CERSAI
  • Sharing of the public key for decrypting messages
  • Request for search/download of client KYC from
  • Response from the CKYCR for the request initiated by any Entity Benefits of the API-based search and download solution
  • Promotes a paperless environment and eliminates paper verification, movement and storage
  • No risk of forged documents
  • Quick, real-time results

CKYC OVERVIEW

KEY BENEFITs

Automation of verification and validation of ID documents eliminates manual workflow thereby shortening turnaround time

Fraud detection –Identity theft and other frauds can be detected at initial stage of transactions

Multilingual support for making the product easy-to-market across different countries

Faster customer on-boarding – paperless, hassle free on-boarding provides a wow experience to customer

Ease of customization –Modular architecture makes it possible to selectively configure and customize the functionality you need

VALUE PROPOSITION

To Implement CKYCR System at the National Level
To work on KYC Request/Transaction Business Model for Each Entity wanting to use CKYCR Services
Transparency for Government to monitor any Individual ID card and Linked Accounts and Sim Cards on real time basis
Provide Individual KYC Score for Every citizen
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