With a KUA or sub-KUA licence, NBFCs will be able to authenticate client Aadhaar numbers using the e-KYC facility provided by UIDAI.
September 17, 2021Eight banks have joined the account aggregator network, which enables consumers to share financial data with third parties in a safe and secure manner.
September 13, 2021NPCI has commenced phase one tests of using facial authentication in non-financial transactions with ICICI Bank, Yes Bank, RBL Bank and Fino Payments Bank.
October 8, 2020Intermediaries and mutual fund distributors that want to use Aadhaar authentication services for e-KYC are required to enter into an agreement with one of the eight entities named.
May 14, 2020The investor KYC process can be completed through websites or apps, which should include video-based ID verification, liveness checks, and electronic signatures and documents.
April 27, 2020Claus Christensen at Know Your Customer Ltd identifies four e-KYC models in use across the world, but says that harmonisation and consolidation of these schemes is likely.
April 5, 2020Intermediaries and mutual fund distributors are not allowed to store investors’ Aadhaar numbers “under any circumstances”.
November 8, 2019Four years of collaboration between India's major financial regulators has resulted in a new platform that enables financial services providers to share data with other institutions based explicitly on user consent.
July 26, 2019Apple shares concerns over data localisation with Mastercard, Visa, Amazon, WhatsApp and PayPal, but Google will be ready to comply by December.
September 11, 2018Aadhaar throwing up issues around data security even as financial benefits of the nation-wide biometric identification system are unclear.
January 11, 2018