DPDP Overview The Digital Personal Data Protection (DPDP) Act 2023 was passed on 11 August 2023. In simple terms, this data protection law emphasizes the necessity for lawful processing of data while striking a balance to protect personal data. Getting the balance right with respect to reducing friction, collecting the necessary data, and simultaneously ensuring […]
ONDC – Enabling consumer trust through Verified Sellers
ONDC Context The core idea of ONDC is for sellers to sell anything to anyone online. And for buyers to buy anything from anyone using a single Application. Consumers can discover products across all sellers, and sellers can sign up into the ONDC network through a plug-and-play integration and be discovered without multiple sign-ups across […]
PIVC: Pre-Issuance Verification Call Solution for Insurers
PIVC – A regulatory compliant digital solution for insurers Pre-Issuance Verification Call or PIVC as is commonly called in the insurance industry is a way for insurance companies to verify that the proposal solicited by insurance Agents matches with the needs of the customer. Prior to issuing a new policy, it is incumbent upon the […]
VBIP – Video KYC for Insurance Industry
Following the footsteps of RBI and SEBI allowing regulated entities to onboard and verify customers using a video call (V-CIP or V-IPV as the process is commonly known), IRDAI has taken steps to let Insurance Companies do the same (known as VBIP). Here’s how you can use our ready to use, zero integration, secure and […]
Positive Pay Service to curb Cheque Fraud
Positive Pay Introduction Positive pay is a cash management service by Banks to prevent cheque fraud. The intent is to ensure that the cheques once issued are not tampered when they are presented for clearance. Positive pay service allows the Banks to match the details of the cheque issued with the cheque received before they […]
Aadhaar Masking Solution
What is Aadhaar Masking Solution? Aadhaar and its regulations are governed by UIDAI. And as per UIDAI, Aadhaar masking solution refers to automatically covering the first eight digits of Aadhaar number – in physical or digital form. More precisely, Aadhaar masking refers to concealing the first 8 digits of the Aadhaar Number captured in Application […]
What is penny drop verification?
What is penny drop verification? Penny Drop or Bank account verification as is commonly referred to is a way to verify the authenticity of a user’s Bank Account. This is achieved by depositing a small amount (usually a penny and hence the name) – usually INR 1 (one rupee) in the Indian context – which […]
Video KYC FAQ
1.What is Video KYC Video KYC allows a regulated entity to open an account-based relationship with a customer without meeting the customer face to face. The customer can, through a video call, chat directly with a Banker, provide all the identity documents to verify who they are and complete the account opening steps in a […]
Video Customer Identification (V-CIP)
The move removes the need to go into a branch, invite strangers to the house, share paper copies, or wait for days for the account-opening process to be completed. Instead, the customer can, through a stroke of a video call, chat directly with a Banker, provide all the identity documents to verify who they are […]
What is KYC and why is Digital KYC such an integral part of progress
‘Know Your Customer’ or ‘KYC’ – as is the popular term for identity verification – follows a citizen like a shadow, throughout life, for a range of rights and services, intricately linked to one’s progress from education to employment to healthcare and finance. Imagine the lack of education for lack of KYC; or lack of […]
