28/06/2022 Computer - IT - Webs
As per the government rules one needs to submit KYC documents like Aadhaar and PAN as proof of identity and proof of address together with a recent photograph on different occasions like the opening of savings bank account, fixed deposit, mutual fund, insurance, etc. Those KYC documents that we present at the time of opening an account are kept as scanned copies. It may have a collection of different documents like aadhaar cards, passports, licenses, etc. The bank will have a bulk of customer-proof images in their database that are not classified and segregated. It’s too difficult to extract particular data from an image. Aadhaar continues to be the most commonly submitted document in the KYC process. Here we support many financial institutions to classify and extracting KYC documents using our tool PiXL- KYC Classifier and extractor from PiXL.AI family with a guaranteed accuracy of more than 99% on a very low-quality image also. Aadhaar Card Masker for cooperative banks helps to mask all the first 8 digits of aadhaar number from the submitted documents by customers.
Now, things have changed regarding the aadhaar cards. There were directions from the Reserve bank of India regarding the KYC entries. The updated orders were the aftereffects of Aadhaar and other Laws Ordinance that were addressed by the management in March 2019. The order points to mandatory information for RBI Regulated Entities that is to mask the Aadhaar number of all customers from the Aadhaar number part of the KYC process. Financial Institutions now need to mask Aadhaar’s first 8 numbers on all the customer images from their customer-valued documents.
As per the government rules one needs to submit KYC documents like Aadhaar and PAN as proof of identity and proof of address together with a recent ph...
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