SEBI rolls out digital-only KYC verification – eliminating the earlier requirement of in-person verification. According to the SEBI circular:
- Any Aadhaar holder can attest their documents via OTP – based verification.
- Online KYC process can be used for establishing account-based relationship with the SEBI Registered Intermediary (RI).
- In place of in-person verification, SEBI intermediaries can leverage Video In-Person Verification for customer onboarding
Frequently Asked Questions
Can we replace in-person customer verification with video – based verification?
Yes, according to SEBI circular dated April 24, 2020, all SEBI registered intermediaries can leverage video in-person verification (VIPV) to verify customer credentials. Please download the document for more details.
Do we need physical documents for eKYC verification of our customers?
No, with MSB Docs, you can directly share the contract/documents and your customers can sign & approve via any device (smartphone/desktop/tablet). After that, via MSB Docs’ in-app VIPV feature, you can trim down the customer onboarding process from weeks to days.
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