Central Know Your Customer (CKYC) is an initiative of the India Government where a centralized registry of KYC records of customers in the financial sector is maintained. The objective of the initiative is to have a structure in place that allows investors to complete their KYC only once, thereby reducing the burden of producing KYC documents every time a new investment is made with various entities.
It works by uploading customers/individual’s KYC data and images into the CKYC-R through the financial institution and retrieving the unique 14 digit CKYC number. A CKYC automated solution that assists the financial institution in meeting the Guidelines and prerequisites of CERSAI, RBI, IRDA, and PFRDA rules.
iSolve CKYC software solution isn’t simply used to upload CKYC documents; its unique CKYC framework ensures a start to finish measure at the board of the whole CKYC flow. With simple APIs or file transfers, it effectively incorporates with any heritage information base framework or back-office arrangement of the establishment. The registry for Central KYC or CKYC is CERSAI; which is responsible for keeping the information records for each KYC that is conveyed.
Seamless BFSI Platform Integration
Hassle-free APIs integration with zero disruptions on existing banking/financial system
Intelligent Automation Process
Complete CKYC automation life cycle with zero manual intervention enhancing overall business productivity
Customization can be done based on your requirements from start to finish
100% visibility of all your processes; detailed reports
Various types of CBS integration - Automation
Integrate with Multiple CBS to manage CKYC
SFTP Storage security
CERSAI communication via SFTP for upload & download of customer documents with zero data breach
Image optimization – Automation
Auto optimization of images on CERSAI parameters
Fully compliant and automated CKYCR integration application software
for banks, insurance & other financial reporting entities.
Web/Cloud based CKYCR api integration application platform
for SME, MSME & other corporate loan lenders.
Enterprise-grade digital video-kyc application software solutions
for financial services with automated identity verification system.
Simplify your investors & customers account opening with
our intelligent Aadhaar based e-KYC api integration.
As per RBI guidelines, know your customer (KYC) and identity management for legal entities has been mandated from April 1st 2021. REs should upload LEs KYC data for accounts opened on or after April 1, 2021, on to CKYCR in terms of Rule 9 (1A) of the PML Rules.
Yes there is a separate KYC application form for verification of Legal Entity account holder. The updated form is available in CERSAI portal.
CKYC API Integration is a cloud based application which connects with central KYC records registry to send/receive requests and responses for customer KYC verification and identification.
The public authority of India set up CERSAI (Central Registry of Securitization Asset Reconstruction and Security Interest of India) and has approved it to play out the elements of a Central KYC Registry, where it gets, stores, protects and recovers the KYC records in a digitalized format.
CKYC stands for Central Know Your Customer is initiated by the Government of India under which an enrolled customer is given a unique CKYC number that is valid and used across the BFSI sectors like banking, insurance, mutual funds, provident funds, and other services. This is exceptionally helpful as the consumer doesn't need to enlist himself independently with each other financial institution he cooperates with.
Need to submit the below set of documents while submitting a Central KYC form: