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AjayEdupuganti

Hey I am on Medial • 10m

@delhivery @BlueDart_ @EcomExpress_Ofc @DTDCIndia If e-commerce delivery companies offered in-person KYC verification for banks, it could simplify life for customers and speed up bank onboarding. This could be cheaper, more efficient, and faster too

Sajin
•

Foundation • 10m

Why?

AjayEdupuganti

Hey I am on Medial • 10m

1. Banks Cant rely on online verification 2. Running seperate verification agencies across the nation is expensive 3. An extra cashin opportunity for the delivery agents 4. Coz they have such large network, they can offer kyc at better prices than a

Sajin
•

Foundation • 10m

Aadhar is one stop verification for everything. Every phone number is connected to Aadhar, photo, home address is connected to Aadhar, PAN, DL, everything is connected to Aadhar. Its just that UIDAI does not provide B2B verification service, because

AjayEdupuganti

Hey I am on Medial • 10m

Your phone is easily hackable nd aadhar number is very easy to get, if someone wants to. So, banks cant rely on your aadhar verification. Its not just about server side. Its more about client side. Photos can be edited. Its not as simple as u describ

Sajin
•

Foundation • 10m

It is simple. It is implemented in many nations. They have phone number OTP based ID approval, and for banks additional fingerprint scan. Its as easy as it is. We tend to overthink the simplicity of a system. Also theres huge trust issue with banks. You are talking about doing online verification with physical method, which will fail as banks dont believe in any 3rd party

1 Reply

Replies (1)

AjayEdupuganti

Hey I am on Medial • 10m

Banks outsource these kyc things. They dont do it themselves. It is not over complication. Am not sure if u have heard, but someone actually created a demat account using sunny leone pancard and other details and there is a some huge loss or something. And it happened with couple of other celebs aswell. You can check that. Even nithin kamath talked about this multiple times. We cant rely on ekyc yet. Atleast not for banks, loan and credit card disbursement etc

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