India has a central KYC (CKYC) registry to ensure KYC all financial institutions follow uniform KYC practices. After an individual's details are added to the CKYC database, organizations can access these details to digitally verify KYC details instead of manually collecting and verifying these details.
The CKYC registry makes it easier for organizations to:
- Provide a seamless digital experience to their users.
- Adhere to all required regulatory guidelines.
- Protect themselves and their users by reducing the chances of fraud and identity theft.
You can use ZWITCH APIs to search to check if an individual is registered in the CKYC database. If their details are present in the CKYC database, you do not need to collect their KYC details again, saving you time and money.
Depending on the documents submitted, there are 4 types of CKYC registrations.
Normal Registration: This type of registration is done when one of the following documents is submitted as identity proof:
- Voter ID
- Driving License
- NREGA Job Card
Simplified Measures Registration: This type of registration is done when any officially valid document (other than the ones mentioned for normal registration) is submitted as identity proof. In this case, the CKYC number is a 14-digit number prefixed by L.
Small Account: This type of registration is done when a photograph and personal details are submitted to the CKYC database. In this case, the CKYC number is a 14-digit number prefixed by S.
OTP-Based eKYC Account: This type of registration is done when a photograph and Aadhaar PDF file (downloaded from the UIDAI website) are submitted to the CKYC database. In this case, the CKYC number is a 14-digit number prefixed by O.