BANKS AND FINANCIAL INSTITUTIONS

Daimler Financial Services

All Financial Institutions in India are now mandated by law to meet the ongoing reporting requirements mandated by CERSAI.

THE CHALLENGE

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.

With Central KYC, investors need to do their KYC clearance just once. Thereafter, they can transact/deal with all entities governed/regulated by Government of India / Regulator (RBI, SEBI, IRDA and PFRDA) without the need to complete multiple KYC formalities each time.

This is expected to enhance larger market participation by investors, easing their journey on the financial highway. The CKYC processing is handled by CERSAI.

iFlow CKYC Platform helps every FI or Credit Institution meet the ongoing reporting requirements mandated by CERSAI.

  • Public Sector Banks
  • Private Banks
  • Foreign Banks
  • Co-Operative Banks
  • Regional Rural Banks
  • Local Area Banks
  • Factoring Companies (Private)
  • Factoring Companies (Public)
  • Asset Reconstruction Companies
  • Financial Institutions
  • Housing Finance Companies
  • Security Trustee
  • NBFCS – Accepting Public Deposits
  • NBFCS – Not Accepting Public Deposits

And other companies distributing credit in any other manner or any other institution which the Reserve Bank may include from time to time!

THE PLATFORM

iSolve’s iFLow CKYC, platform is built to meet the exacting specifications of CERSAI. iFlow CKYC is rated the #1 for reliability, ease of use and audit trail functions and is successfully implemented in

iFlow CKYC provides immense benefits to our customers – mainly:

  • Near 100% Automation
  • Maker Checker Functions
  • Built In Document Viewing System
  • Fully integrated with CERSAI Search APIs
  • Customizable Dashboards
  • Upto Minute Transaction Reports
  • CERSAI Fee Trackers
  • Audit Trail with Comprehensive Transaction logs
  • Access from anywhere
  • Test Bed Assistance
  • Core Banking System Integration Assistance
  • Auto emails for status/escalations
  • Multilingual helper support

iFlow CKYC has solved a big challenge to banks and FIs in meeting CERSAI / RBI regulatory requirements on time.

Transformation, achieved!