AD-CKYC Framework

A system with a Capability to process all file formats
Facilitates KYC Search, Upload, Download, Update

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About AD-CKYC

Central KYC Records Registry (CKYC) - template for Know Your Customer (KYC) and reporting requirements under Foreign Account Tax Compliance Act (FATCA)/ Common Reporting Standards (CRS).

Salient Future

  • User friendly web portal
  • Facilitates KYC Search, Upload, Download, Update
  • Real time notification to institutions on updating in KYC details
  • Unique KYC identifier linked with independent ID proofs
  • Captures requirements under FATCA, CRS and PMLA
  • Provision to capture multiple correspondence addresses, related & controlling person details
  • 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 verification with issuing authorities like Aadhaar/PAN/Passport etc.
  • Reports, dashboards, MIS, Audit logs and Access trails to stakeholders
  • Web Interface
  • Captures minimum requirements under FATCA, CRS and PMLA
  • Provision to capture multiple correspondence addresses, related and controlling person details.
  • Supporting document images formatted as per standard requirement
  • Data validation
  • Business rules validation
  • Maker & Checker
  • Bulk import of available data in CBS
  • Branch level data capturing for missing information in CBS
  • Output file generation as per specified format with record wise zip file and master zip file for upload into CKYC portal/SFTP
  • Digital signing of bulk up-loadable file
  • Dashboard and MIS reports
  • Audit logs and Access trails
  • Also Available in Hub and Spoke Model (in Case of Web Based System)

Customer

  • One time KYC Compliance/ Updating for all financial relationships
  • No repeat documentation
  • Time saving

     

Institution

  • Seamless & Automated back office for KYC processing
  • Reduction in processing time for account opening
  • Reduction in compliance cost and storage of documents

Reduction

  • Reduction in number of fake accounts being opened
  • Monitor all linked accounts of suspected perpetrators
  • Monitor compliance of institutions
     

AD-CKYC FRAMEWORK

A system with a Capability to process all file formats
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