What is Central KYC Registry?
Central KYC Registry is a centralized repository of KYC records of customers in the financial sector with uniform KYC norms and inter-usability of the KYC records across the sector with an objective to reduce the burden of producing KYC documents and getting those verified every time when the customer creates a new relationship with a financial entity.
Central KYC Registry has the below salient features:
- User friendly web portal
- Unique KYC identifier linked with independent ID proofs
- KYC data and documents stored in a digitally secure electronic format
- Secure and advanced user authentication mechanisms for system access
- Data de-duplication to ensure single KYC identifier per applicant
- ID authentication with issuing authorities like Aadhaar/PAN etc.
- Substantial cost reduction by avoiding multiplicity of registration and data upkeep
- Real time notification to institutions on updation in KYC details
- Regulatory reports to monitor compliance
What is iFlow CKYC:
iFlow C-KYC platform is an integrated solution which helps all FIs to process their customer documents and upload in CERSAI portal as mandated by Government of India to maintain the customer records in a single portal which can be accessed by any FI.
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