Authentication & e-KYC

Authentication & e-KYC

Aadhaar authentication is the process through which the Aadhaar number of a resident of India, along with other attributes (demographic/biometrics/OTP) is submitted to UIDAI’s Central Identities Data Repository (CIDR) for verification; the CIDR verifies whether the data submitted matches the data available in CIDR and responds with a “Yes/No”. The purpose of Authentication is to enable residents to prove their identity and for service providers to confirm that the residents are ‘who they claim to be’ in order to supply services and provide access to benefits.

Aadhaar e-KYC is an electronic substitute (to conventional paper-based KYC), which is instant and paperless for industry use to meet KYC requirement of Banking, Telecom, Insurance, Depository Participants and any other legal entity registered in India.

Some of the benefits of Aadhaar authentication and e-KYC:

  • Promotes paperless environment
  • Eliminates risk of forged documents & identity fraud
  • Real time and instantaneous verification
  • Fully compliant with regulatory requirements
  • Elimination of paper verification, movement and storage
  • Faster processes and reduced cost of compliance
  • Completely consent based

Precision helps organizations with the implementation of e-KYC, providing advice on the processes involved and necessary STQC certified biometric devices, SDKs & integration support, implementation and ongoing support services.