Karvy Fintech has introduced a new facility to help distributors onboard new clients in just five minutes.
The R&T agent has launched XML and QR code based offline e-KYC for regular, PAN exempt & IPV exempt categories.
While XML or Extensible Markup Language (XML) encodes documents in both human-readable and machine-readable, Quick Response (QR) code is like barcode that can be read through a device/software to speed up the process.
Here are some key features:
- Completely paperless and online KYC solution
- Integration with AMC application
- Minimal data entry
- Covers PAN and PAN exempt cases
- Seamless video IPV process
Solution categories
|
Particulars |
Micro KYC (Less than Rs. 50,000/-) |
Full KYC |
|
|
Category |
PAN Available |
PAN exempt |
PAN mandatory |
|
Proof of Identity |
PAN |
Any other approved identity document |
PAN |
|
Proof of Address |
XML/QR based eAadhaar |
XML/QR based eAadhaar |
XML/QR based eAadhaar |
|
In Person Verification |
IPV exempt |
POI document validation through IPV |
Video based IPV process |
|
Status |
Ready to go live subject to regulatory guidance |
Ready to go live |
Ready to go live |
Steps at a glance
- Applicable to resident individuals
- Investors can visit AMC website to initiate KYC process
- Select option as PAN/ PAN exempt KYC as the case may be
- Key in PAN/ PAN exempt ID details, mobile number and email ID.
- PAN validation where applicable
- Generate and upload offline (QR pdf / XML) eAadhaar file through a guided process
- Input additional mandatory KYC information
- Upload copy of the selected ID proof and specimen signature
- Lastly, complete the video IPV
