IDfy Blog

Four 'Must Haves' for RBI's Digital KYC Guidelines

Banks and Fintechs are looking for clear guidelines from the RBI for digital KYC. Here's a list of 4 must-haves for the RBI.

Digital KYC

IDfy and BeatRoute Join Hands to Digitise On-ground KYC

IDfy, a leading Regulatory Technologies solutions provider, and Beatroute Innovations, a mobile app platform for field force, are collaborating to digitise on-ground, agent-assisted KYC for telecom, banking, lending, investment, and insurance industries.IDfy’

We are the Infrastructure for all Future P2P Transactions: Ashok Hariharan

Ashok Hariharan, co-founder and CEO at IDfy, believes that IDfy is building the infrastructure for all P2P transactions in the future. Speaking to Spark Capital for their Investment Banking 'Technology' newsletter, Ashok said

AML

Technology Solutions for Anti-Money Laundering

As emerging technologies are adopted in the new digital economy, banks are required to proactively adopt ways of preventing money laundering and the financing of terrorism – and it is exactly here that IDfy can help.

IDfy Recognised Amongst the World's Top 100 Innovative Companies for Fintechs

Listed in REGTECH100 as a leader in Regulatory Technologies that every financial institution needs to know aboutIDfy has been featured in the REGTECH100 for 2019, a list of world’s most innovative companies

KYC

Fintechs are pushing tech boundaries for Digital KYC solutions

The fintech and payments industry, including banks and non-banking financial companies (NBFCs), is considering artificial intelligence (AI)-based solutions for fulfilling e-KYC (know-your-customer) requirements as there is no clear mechanism in place to verify customers digitally

UIDAI

Why the UIDAI's QR Code-based Authentication Will Not Work

With Aadhaar-data unavailable to fintechs, banks, insurers, telcos and other private enterprises after the recent Supreme Court ruling, the UIDAI has hinted that QR Code and offline Aadhaar KYC may be considered. A

KYC

Fintech Companies Looking for Digital KYC Solutions

An Economic Times article on how fintechs are looking for digital KYC solutions that do not need Aadhaar data for authentication.

RBI

Data Localisation: Why the RBI isn’t Listening to Your ‘Mirroring’ Argument

OK, so the RBI wants data localization so they can seize / inspect records / data whenever they have to – that’s fine – but why don’t they at least allow data mirroring?!!

Five Shocking Stories that Show how Identity Scamsters Trap Victims

Identity theft or misrepresentation is the most common method of committing financial fraud. In fact, more than 75% of all financial fraud in India are believed to involve identity misrepresentation, impersonation or the

Keep Calm and Fight Fraud

Four Amazing Videos about Fraud and Fighting FraudAt IDfy, our aim is to help build a world without fraud where people and businesses can engage with confidence.Not surprisingly, a key part of

Big Companies that Paid A Heavy Price for Background Verification Fails

JPMorgan ChaseThe American multinational investment bank and financial services company is the world’s most valuable bank by market capitalization. In November 2017, the company was fined a sum of $1.25 million

The Impact of Aadhaar-based KYC on Indian Industry

The Supreme Court verdict on the use of Aadhaar-based authentication by private enterprises has affected several sectors' KYC processes.To understand the scale of the impact, we'll look at data that show how

Use of Aadhaar by Private Parties

Section 57 of the Aadhaar Act allowed private parties to authenticate the identity of customers using the Aadhaar authentication process. The Supreme Court has held that the provision in Section 57 of the

Paper-less, Presence-less KYC is a Necessity

KYC is a necessity and there is no debating that!In today’s world, it is also a necessity for businesses to have the ability to conduct KYC in a paperless and, as

KYC

The Supreme Court’s Aadhaar Verdict and What it Means for Private Companies

Organizations that embrace technology and actually upgrade their authentication processes in these times will survive and prosper in the long run. Large parts of the onboarding processes can be automated while catching more fraud than before.

KYC

The Great KYC Challenge

RBI needs to embrace technology that makes e-KYC safer and more secure while giving a boost to an emerging sector that can impact millions of people by giving them access to finance at the click of a button.

KYC

Aadhaar eKYC Authentications by RBI Regulated Entities

It's imperative for the RBI and UIDAI to frame policy and back it with technology to help businesses implement presence-less KYC and onboarding. While businesses should ensure that regulators don’t find reasons to stop them from making use of such a facility.

Forgery Detection

Five Ways Stolen PAN Details Can Be Misused

A quick look at some crimes that have been committed using forged PAN cards.

Forgery Detection

PAN Card Forgery is a Serious Identity Theft Threat

If you want to know how surprisingly easy it is for someone to forge your PAN Card and assume your identity, read along. Here’s an interesting eye test. One of the PAN

Image tampering

How Machine Learning Detects Tampered Images

"More than 90% of commercially captured and published digital photographs, if not tampered with some ulterior motive, are at least retouched" as per a Cornell University study. With digital documentation becoming

Image tampering

The Unfunny Side of Tampered Images

We have news for you. Not everybody loves a good meme. As businesses continue their digital drive and digital documentation becomes more the norm than the exception, we are witnessing an exponential rise