Eliminates document forgery

There are less chances of identity frauds as there will be elimination of photocopies of various documents that were currently stored in premises of various stakeholders. As the eKYC data is provided directly by UIDAI, there is no risk of forged documents.

Non-repudiable

The use of resident authentication for authorization, the affixing of a digital signature by the service provider originating the e-KYC request, and the affixing of a digital signature by UIDAI when providing the eKYC data makes the entire transaction non-repudiable by all parties involved, says UIDAI.

Machine Readable

Digitally signed electronic KYC data provided by UIDAI is machine readable, making it possible for the service provider to directly store it as the customer record in their database for purposes of service, audit, etc. without human intervention making the process low cost and error free.

Regulation friendly

The service providers can provide a portal to the Ministry/Regulator for auditing all e-KYC requests. The Ministry/Regulator can establish rules for secure retention of e-KYC data such as storage method, period of storage, and retrieval among other things.

With customer consent

The KYC data can only be provided upon authorization by the customer through Aadhaar authentication, thus protecting resident privacy.

E-KYC includes

e-KYC is fully paperless, electronic, low-cost aspects of e-KYC make it more inclusive, enabling financial inclusion.

Low cost

The process eliminates paper verification, movement, and storage reduces the cost of KYC to a fraction of what it is today.

Instantaneous

The service is fully automated, and KYC data is furnished in realtime, without any manual intervention.