About the Company

Veri5Digital is India’s leading Identity verification and onboarding service provider with a suite of products that includes Video ID KYC, Aadhaar Offline KYC, eSign and eNACH.

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Khosla Labs Pvt. Ltd.
#18/2A, GRS Towers, Second Floor
Above Cafe Coffee Day
Sarjapur Road
Bangalore 560103

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If you are a part, have been a part of the banking and payments sector then you know what I mean when I say RBI and its regulations dictate everything that happens there. Right from how customers need to be acquired to how they should be interacted with and where or where not the money received should go.   As such the past year especially has been eventful, RBI came up with 2 major regulations for the sector, Use Aadhaar eKYC or

If you have had the chance to have a look at our article on eNACH, you should have noticed we speak about “Mandates” extensively there.    Yes, this is an extension of our article on eNACH. I wanted to talk about “Mandates”, more specifically “eMandates”.   In most cases, eMandates and eNACH are used interchangeably. In this article though we try to define what exactly these terms mean and why is there confusion on the subject.    To begin with, let’s start by defining what eNACH

There has been a tremendous amount of conversation on the web about the use of biometric information by organizations specifically by governments and global conglomerates to track citizens and users respectively. What most of these conversations point to is how the information gathered by various platforms are being used or rather misused by to drive agenda and influence public opinion. In this article, I wanted to talk about the flip side of things. Specifically, I wanted to talk about how face match/recognition

Over the past year, we released Veri5KYC, a suite of products catering to KYC and verification needed by BFSI and Fintech industry. Companies in the transport, delivery, and ecommerce space also adopted Veri5KYC products to ascertain the safety of their customers and protect themselves from identity fraud.   One of the major questions that we get from our customers, especially for companies that fall under RBI and PMLA guidelines, is whether they should consider doing an IPV(In-person Verification) after going through Digital

Being a lending focused startup is hard business and from all our conversations with our customers both in lending and subscription-based companies we realized that the hardest part of both of them was to get the recurring payment in, i.e. EMI for lenders and monthly subscription fee for SaaS products from the customers.  The problem is quite similar in case of utility bills too, the customers tend to forget the deadline leading to the disconnection of services not because she didn’t

If you anything like me, you would have at least ones rented, bought things on EMI or would have taken a loan from a bank sometime in your life and if you have, you might have received an SMS or an email which goes something like this This particular SMS was on a standing instruction on my credit card for something I rented out from Rentomojo.   India’s rental economy at the time of writing this article exceeded $1.5 billion in revenue, combined

According to a report by Securitas , identity theft accounts for 35% of all financial frauds in India. Combine this with the possibility of using this money for terrorist funding, the problem doesn’t just stop at losing money.  While banks and financial institutions try their best to secure their systems to avoid loss, money launderers and criminal entities look to exploit new loopholes almost everyday. This is where KYC comes into the picture, KYC allows banks to confirm if the customer

In our constant effort to improve Veri5Digital, we spend countless hours researching, evaluating and building products and features that can help “YOU” our customers.  Last month, our team worked on features that would allow you to customize your KYC app, be compliant with regulatory guidelines, configure flows and colors.   UIDAI We Do Flow Changes and UIDAI signature UIDAI’s latest update made changes in the flow of how Aadhaar XML was downloaded. Our new upgrade takes it into account and in addition also checks

In our introductory chapter we took you through the major highlights that RBI master circular on KYC had and how it affected you as a regulated entity.  In this installment of the blog we shall discuss outsourcing and audit related stipulations.  All regulated entities are expected to comply with audit related provisions of KYC Policy, following is a list of major provisions that you should be aware of,

UIDAI’s decision to charge for eKYC transactions, had considerable effect on financial institutes including banks and NBFC’s that were dependant on eKYC to fulfil their KYC obligations, though what most ignored was its effect on eSign, an online electronic signature service that can facilitate an Aadhaar holder to digitally sign a document. The decision made eSign expensive for several service providers who relied on eSign to automate their customer onboarding and processing flows.

RBI, SEBI, UIDAI and IRDAI tend to update their KYC mandate overtime and considering how official circulars are written most of us require the help of a legal expert to understand and interpret the changes and regulations that might affect you as an  enterprise registered and regulated by one of these entities. We spoke to our team of legal experts to help us understand what these mean and in this series we try to demystify each of these regulations for

RBI's latest amendment of master directive on KYC, allowed regulated entities including banks to use offline Aadhaar for identifying and verifying their customers as required by PMLA act. This meant all private sector companies that had lost, an easy to use method of KYCing with eKYC, can now use Offline Aadhaar which is very similar to ekYC to KYC their customers. In this article we try to figure out what Offline KYC is and how it could be much better than

Aadhaar, apart from being India's unique identity program was also responsible for changing the way how people looked at digital identity. The supreme court verdict on Aadhaar limited access of Aadhaar data by private companies and lead 2 drastic changes in the market, BFSI and other industries which relied on eKYC to verify and identify their customers, lost access to an inexpensive and fast KYC process Lead to the emergence of identity service providers who digitised the paper & plastic

Know your customer, alternatively known as know your client or simply KYC, is the process of a business verifying the identity of its clients and assessing their suitability, along with the potential risks of illegal intentions towards the business relationship.  - Wikipedia The government of India enacted Prevention of Money Laundering Act, in 2003 with an objective of preventing and control money laundering by antisocial elements. Under this act RBI mandated all financial institutions under it to make sure that they knew who they were

2018 was eventful! A quick Google or DuckDuckGo search would reveals more than 20 times in 2018, when a million users or more of a website, or a service or an app got their private information stolen. And that are the ones that we know of.  In a world where everything is connected to everything else and where social media companies, search giants and governments are more than ever, keen to gather as much data about you, as possible, Privacy has