Blog Details

In the digital world, user experience is everything. Everything from onboarding to registration and activation needs to be seamless and frictionless. Digital onboarding can be cumbersome, time-consuming, and frustrating for users. It involves filling out long forms with unnecessary information or answering seemingly pointless questions just to get started. Users get frustrated with lengthy signup processes that take up their time and demand lots of personal information before they even access the services offered by a company. Frenzopay’s Onboarding APIs streamline the onboarding process for merchants with eKYC API driven solutions, so they can spend less time registering and more time actually using the service. Read on to know more details

What is e-KYC and How is it Beneficial?

e-KYC stands for electronic Know Your Customer, and it is a process that allows companies to onboard their customers quickly and easily with the help of Aadhar and other identity verification processes. The process will save time while ensuring the company has the necessary information to verify the identity of the customer and comply with government regulations regarding identity. This is beneficial for both companies and customers. Companies can onboard customers more quickly, with less hassle, and less cost, allowing them to focus on other areas of their business. Customers, on the other hand, can expect to spend less time registering, less time filling out forms, and have fewer hassles when signing up for a service. It is important to note that, e-KYC is not just limited to digital companies and services. Traditional businesses can also use e-KYC for the same purpose.

Why is Client Onboarding Important?

If you are looking to onboard clients quickly and easily, you will need to use a streamlined process for customer onboarding. With so many companies offering similar services, it can be difficult to stand out from the crowd. This is especially true if you are operating online. If you want clients to choose your company over your competitors, you will need to make the onboarding process as simple and seamless as possible. Otherwise, your clients will get frustrated and choose to sign up with a company that makes the process less of a hassle. This is why it is important to have a streamlined client onboarding process in place. By having a streamlined customer onboarding process, you can reduce the amount of time it takes for customers to sign up for your service. This will make your service more appealing to new customers since they will be able to start using the service more quickly. It can also help you retain clients since they won’t have to spend as much time signing up for your service.

What is an e-KYC API and how will it Help?

An e-KYC API helps you onboard clients quickly and easily with the help of Aadhar and other identity verification processes. An e-KYC API will allow you to integrate your existing systems and databases with the Aadhar database for identity verification. This will allow you to quickly onboard new clients without having to manually enter data into the Aadhar system. It will also allow your customers to complete the onboarding process online without having to visit a physical location to verify their identity. This is beneficial for both companies and customers. Companies can onboard customers more quickly, with less hassle, and less cost, allowing them to focus on other areas of their business. Customers, on the other hand, can expect to spend less time registering, less time filling out forms, and have fewer hassles when signing up for a service.

Problems with the Traditional KYC Process

A traditional KYC process can help companies to onboard clients quickly and easily. However, it can also be slow and tedious to complete. This is especially true if your company doesn’t have the right tools in place to help you complete the process efficiently. If your company is using a paper-based process for KYC, it will take longer for employees to manually enter the information into the system. This can make the process even more time-consuming. A paper-based process can also be more prone to errors, which will make it more difficult to accurately verify the identity of your clients. If your company is using an outdated process for completing the KYC process, it can also make it more difficult to stay compliant with government regulations. A KYC process that involves manual input can make it more difficult to stay compliant with regulations. If a government agency ever audits your business, they will expect to see a paper trail to verify the identity of your clients. If you rely on a paper-based process, it can be difficult to provide this information.

How can an e-KYC API Help With onboarding?

An e-KYC API can help with onboarding by allowing you to integrate your existing systems and databases with the Aadhar database for identity verification. The API will allow you to quickly onboard new clients without having to manually enter data into the system. It will also allow your customers to complete the onboarding process online without having to visit a physical location to verify their identity. This is beneficial for both companies and customers. Companies can onboard customers more quickly, with less hassle, and less cost, allowing them to focus on other areas of their business. Customers, on the other hand, can expect to spend less time registering, less time filling out forms, and have fewer hassles when signing up for a service.

API solutions for digital KYC

Frenzopay's seamless KYC API integration with your website/app. Frenzopay is a simple, dependable, and secure software platform that creates fintech APIs. It uses the e-KYC API to streamline the process and ensure it is seamlessly integrated into your website/app.

Frenopay’s Digital KYC API Solution, which can be plugged and played to onboard merchants in a matter of few minutes includes the following components: Customer ID and Biometric Identification, Address Collection and Verification, Customer Due Diligence, Phone Number and Email Verification Facial Recognition Solution FaceMatch, Data Masking, Video KYC Automated eSign verification, Aadhaar-based KYC retrieval, data aggregation, and anti-money laundering checks

ID verification

Our API forgery detection systems examine user information, including government IDs. To ensure the process's security, the system employs AI-based image forensics on each ID.

Business check

Our API proprietary algorithms validate and cross-reference business names and information against international and government databases.

Digital Contract

Another advantage of the e-KYC API solution is the ease with which contracts can be obtained and signed. This is accomplished through the use of enhanced security measures.

Advanced Dashboard Analytic

Our e-KYC API Solution provides merchants with a dashboard that allows them to view real-time risk assessments of customers using AI algorithms. Using Frenzopay's e-KYC API is ideal for any business to ensure that the KYC verification process is completed quickly and efficiently.

Conclusion

Identity verification is a critical part of onboarding new clients. Unfortunately, it can be a tedious and time-consuming process. Fortunately, there is an alternative to the traditional identity verification process: e-KYC. e-KYC allows you to quickly onboard new clients without having to manually enter data into the system. It also allows your customers to complete the onboarding process online without having to visit a physical location to verify their identity. e-KYC is a great alternative to the traditional identity verification process.