CKYC process automation and BPO

About Crown’s Central Know Your Customer (CKYC) Solution

Introducing digital transformation to enhance how we serve customers is the next significant change for us. While doing this, dealing with numerous customers and maintaining their confidential information is crucial.

Following the regulatory directive from the Govt. of India, all financial organizations are required to update Central Know Your Customer (CKYC) records of their customers on the Central KYC Record Registry (CKYRR), managed by Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI).

The objective of Central KYC is to provide a platform enabling investors to complete their KYC just once before interacting with entities in the financial services sector. The process is long and tedious: for example, completing manual CKYC require30 minutes per customer profile, with all the risks of manual entry.

Crown’s CKYC service can simplify processes and provide real-time, smooth, and secure customer onboarding. Our team of experts ensures documents are handled and processed efficiently while maintaining CERSAI standards.

Our CKYC service makes use of advanced digital technologies like Machine Learning to scan and recognise documents, enabling precise data processing. ICR and OCR ensure that handwritten data is captured from KYC forms.

Our solution accurately captures information and images, creates data entry, and uploads multiple entries at once. We have built the service around the needs of organisations, letting you focus on acquiring and serving more customers without worrying about onboarding.

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Our process

1. Scan: As per mutually decided Standard Operating Procedure, our team can establish a scan station at the client branch. Alternatively, the client can use its team to scan application forms, along with POA (Proof of Address) and POI (Proof of Identity). After completing the scanning activity, these images can be transferred to Crown Centralized Processing Centre through dedicated Secure File Transfer Protocol (SFTP) along with data sheets of each application form in the prescribed format.
2. Filter / De- Duplicate: After the scanned images arrive at our centre, we will browse the institution’s master records to check if CKYC process is already performed for a particular customer ID.
3. Auto-identify / Crop: With the help of a dedicated offline tool, Crown will process the remaining records (which do not have a CKYC ID) to identify photo, POA and POI automatically and crop them as per prescribed dimensions from CERSAI.
4. Data Entry: Process starts with data entry for each record, which can either be imported from the institution’s master records or can be done manually. This process is done on Crown’s web-based tool which then creates an individual zip folder for each application form as prescribed by CERSAI.
5. Quality Check: A Quality-check (QC) is performed for each record to ensure that all images are scanned and cropped following CERSAI guidelines. If a record fails to meet the QC norms, it is sent back for re-scanning or data entry.
6. Approve – upload: All the records processed are approved for batch upload. The system will then generate flat files and zip files following guidelines provided by CERSAI. A digital signature is applied on the day’s batch and the ready files are pushed to CERSAI’s SFTP location.
7. Download Report: The reports can be downloaded after the data is uploaded to CERSAI’s SFTP location.

Learn more on how we automate the CKYC registration process here.

Salient Features

• Accurate document parsing
• Automated CKYC onboarding process
• Secured data transactions
• Audit trail reports / Audit Management

Key Benefits

• Save time- Reduce CKYC turn-around-time from 7 days to 1 day.
• Save costs – On infrastructure, integration and operations
• No minimum billing – charged per CKYC processed
• Intuitive, intelligent, and self-evolving solution – the solution is updated in line with changes to regulatory procedure
• Quality and data hygiene checks by digital technologies.
• Reduces risks and errors.