CloudBankin’s platform serves as a comprehensive solution provider for the Central Know Your Customer (CKYC) initiative, initiated by the Indian Government. CKYC is a scheme designed to digitize and centralize KYC records in the financial industry. The objective is to minimize the need for repetitive KYC verifications. The responsibility of managing this CKYC database lies with the Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI).
With CloudBankin’s CKYC API integrated into your system, the platform ensures strict adherence to the guidelines set by CERSAI and the RBI. Through our meticulously developed CKYC Solution Provider, we facilitate a streamlined process, making it a one-stop point for all your KYC requirements!
- Offers a comprehensive approach to effectively managing the entire CKYC flow.
- By uploading customers' KYC data and images through financial institutions (FIs), the software interacts seamlessly with the government portal.
- This automated solution simplifies compliance rules, assisting financial institutions in fulfilling their regulatory obligations.
- Optimization in the overhead cost of KYC.
- One-stop and one-time verification point for all FIs.
- Easy accessibility of KYC records.
Upload of KYC Records
Enable automated and seamless upload of KYC records through our APIs, significantly reducing manual effort while ensuring accuracy.
Search & Download
Effortlessly search and download customer KYC information directly from the CKYC database.
CKYC API Integration
Effortless API integration of the core data system of FIs with CKYCR, enabling intelligent search, download & upload of customer information.
Regular Update of KYC
Ensures efficient updating of customer KYC data.
File Generation
Ability to create CKYC File Formats and offers the option to export a customer’s file in bulk.
- Enhanced Compliance: Ensure complete compliance of customer accounts with regulatory requirements.
- Seamless Integration: Seamlessly integrates with existing legacy systems and back-office solutions, guaranteeing a hassle-free implementation process.
- Increased Efficiency: Automated processes, such as bulk upload/download and search, and data extraction, minimize manual intervention, thereby improving overall operational efficiency.
- Customizable Solution: We understand that each institution has unique requirements. Therefore, our software can be tailored to meet your specific needs, providing a fully customized CKYC software solution.
- Full Automation: Achieve a high level of automation, reducing manpower requirements and minimizing errors.
- Robust Security: We prioritize data security, ensuring that all customer information is stored in an encrypted format for data transfer.
- Expert Support: Our dedicated team of experts provides end-to-end support, assisting you from CKYC registration to offering subject matter expertise.
Ensure complete compliance of your customer accounts. Seamlessly integrate with the CKYCR. Experience the benefits of automation and customization with CloudBankin CKYC API solution. Speed up your customer onboarding time by a whopping 90% while providing your customers with a seamless and hassle-free experience. Say goodbye to the tedious manual onboarding process and say hello to a world of streamlined efficiency and customer satisfaction!
- Email: salesteam@cloudbankin.com
- Sales Enquiries: +91 9080996606
- HR Enquiries: +91 9080996576
After smartphone penetration, people are not watching their SMS at all. They use SMS only for OTP related transactions. That’s it.
But What can a Lender see in your SMS after you consent to them?
Lender can see income, expenses, and any other Fixed Obligation like (EMIs/Credit Card).
1) Income – Parameters like Average Salary Credited, Stable Monthly inflows like Rent
2) Expenses – Average monthly debit card transactions, UPI Transactions, Monthly ATM Withdrawal Amount etc
3) Fixed Obligations – Loan payments have been made for the past few months, Credit card transactions.
It also tells the Lender the adverse incidents like
1) Missed Loan payments
2) Cheque bounces
3) Missed Bill Payments like EB, LPG gas bills.
4) POS transaction declines due to insufficient funds.
A massive chunk of data is available in our SMS (more than 700 data points), which helps Lender to make a credit decision.
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