IDFC Mutual Fund has enabled video KYC facility to onboard new clients. With this, you can do video KYC of new clients through the fund house’s website.
Investor can avail this service through an Aadhaar upload or through a simple video-based KYC facility.
In a press release, Vishal Kapoor, CEO, IDFC AMC said “Our fully digital KYC service will enable investors to complete this requirement from the safety and comfort of their home. This is especially timely now, since many first-time investors have been hesitant to complete the standard paper-based KYC process due to social distancing norms and attendant safety concerns. The new process will also save time and effort by eliminating the need to visit a branch and provides higher accuracy and a faster turnaround”
The fully digital process offers verification and validation in real-time using a secure OTP authentication.
The service offers two options for completing the KYC. There is an XML-based option which will be based on the investor’s Aadhaar number. For investors without an XML-based Aadhaar, a video KYC option will allow investors to update their details, upload a few documents including their identity proof and complete a simple video recording using their phone or laptop camera.
