KYC procedures are slow, labor-intensive, and prone to mistakes. In addition to document uploads, there are manual reviews, and fraud checks. Aadhaar OKYC eliminates this by using UIDAI-issued identity data that is cryptographically signed.

Surepass operates as a Technical Service Provider to support secure Aadhaar-based verification through the Aadhaar app.

Key Features

• UIDAI Signed Identity Verification: Verify identity using a digitally signed XML file from UIDAI. This ensures the file’s authenticity and prevents fraudulent documents.
• Privacy with no Paperwork: There’s no requirement to collect or save Aadhaar numbers. This is fully compliant with the regulations and guidelines pertaining to offline KYC and privacy.
• Prevention of Fraud: Real-time detection of tampered XML files, signature validity, and mismatched passcode.

Use Cases

• Digital Lending: Instant borrower onboarding and identity verification.
• Banking & NBFC Account Opening: Open financial accounts with quick KYC.
• Insurance Policy Issuance: Verify policyholders before issuing policies or claims.
• Investment Platforms: Enable paperless mutual fund and securities onboarding.
• Travel & Ticketing: Verify travelers before booking or boarding flights/trains/buses.
• Telecom SIM Activation:Perform quick and easy KYC to activate new SIMs.

Benefits

• Faster Onboarding: Onboard new customers and prevent drop-offs by simplifying the KYC process.
• Lower Operation Cost: Reduce operation costs by eliminating the need of manual KYC work
• Higher Approval Rates: Accurately verify customer details and approve their requests.
• Fraud Reduction: Reduce the risk of fraud by accurately verifying the data.