eKYC Based Digital Onboarding

What is it?

During customer acquisition, the process of filling up a form, gathering customer information and documents, and verifying the same is called onboarding. With advancement of technology and openness of data, it is now possible to conduct the same process digitally and in near realtime. Decimal’s eKYC based Digital Onboarding solution helps you achieve the same. The solution is fully customizable and adaptable to your industry.

How it Works?

The solution uses PAN Number, Aadhaar Number and Mobile Verification as its first step. All the verification is done with the respective government authorities and information shared with the end User.

Organizations can also do Customer Risk Profiling, Analysing and Understanding the needs of the customer before proposing the best product for them.

Aadhaar Verification can be done using both OTP Based and Biometric Authenication. Data fetched from Aadhaar is prefilled in the form fields.  

Organization’s Feet on Street (FOS), Sales Executives or Partners (Agents, Business Correspondents) can use the solution to fill the form, scan and store other documents like Customer Signature among others.

Benefits of the Solution

  • Mobile based solution for Sales, field teams
  • Supports Biometric and OTP based onboarding (say, bank account opening, insurance policy issuance, bank loan etc)
  • Quickest possible turnaround time in onboarding
  • Meets all Regulatory requirements of digitized processes for onboarding
  • Reduces chances of errors as the entire process is automated
  • Drastically reduces the cost of Customer acquisition
  • Reduces risk as the Customer information is retrieved from Aadhaar
  • Seamlessly integrates with the Core systems such as (CBS, Policy Management, Loan Origination, ERP, HRMS) and CRM Systems
  • Speed to market – a Bank can go live with an Aadhaar based account opening solution in 6-8 weeks.

Industries which can make use of Digital Onboarding

Any organization irrespective of Industry or domain which uses physical or digital form for onboarding their customers can fully utilize the benefits of our Solution. For instance:

  • Banks – for account opening of individuals, SMEs, businesses
  • NBFC – for credit assessment, onboarding and loan origination
  • Insurance – for policy generation
  • HR Departments – for employee onboarding
  • FMCG – for retailer eKYC
  • Re-KYC – any organization that needs to conduct KYC or re-KYC of their existing customers/partners/retailers/merchants