Gone are those days where all office data were stored externally in hard disks CDs etc, Today, most of the organization’s work is done in the cloud with multiple devices, which means the data can be accessed from anywhere by the company personnel. Now the real problem arises here! What if someone else who doesn’t even belong to the organization accesses it? The thought itself would horrify some! So, to prevent this we have to come up with new ways
When we started Aadhaar Bridge in 2015, the small team at Khosla Labs had one singular goal - to make it easier for companies to use Aadhaar API’s for their identity and on boarding needs, while staying 100% compliant with all regulations and guidelines. Over the course of our growth, we served more than 250 clients across industries while expanding our portfolio of products to include Video ID KYC, eSign, eNACH, AUA/KUA Hosting, Aadhaar Vault among others. As we expanded our products
Irrespective who you are, if you own an email id, have Facebook, Instagram or Google Plus account; you have an online profile, a web based personality. And if you are online chances are companies and organisations, government or otherwise have tracked your behaviour and have kept extensive records. Online, your persona is built by combining two interrelated sources of information Your online behaviour tracked by a machine And the personal data that you choose to share The data that machine tracks includes your purchase history,
On 2nd March, 2019, the President of India vide the office of Ministry of Law and Justice notified the Aadhaar and Other Laws (Amendment) Ordinance, 2019 (“Ordinance”). The Ordinance proposes the same amendments as those contained in the Aadhaar Bill, 2018, which had been passed in the Lok Sabha this January. Most importantly, despite deleting section 57, the Ordinance re-introduces private sector use of the Aadhaar infrastructure through amendments to the Telegraph Act and the Prevention of Money Laundering Act. In
One of the best things about Aadhaar API was its ability to allow organisations like Banks and other financial institutions to instantly verify the identity of the customer, as required by RBI regulations. This meant new accounts and loan disbursements could be done almost instantly and with minimum to no human intervention. With the Supreme court’s verdict private institutions were barred from using Aadhaar APIs in September of 2018. Though with it’s latest ordinance Government of India now has allowed Banks
KYC or Know your customer, simply put is the process of identifying a customer with a goal of detecting and avoiding fraud in financial transactions, as such it is legally binding to financial institutions including banks and NBFC’s. Read more on What is KYC? Why is it important? eKYC is when KYC is done electronically. With respect to Aadhaar, eKYC is defined as A paperless Know Your Customer (KYC) procedure, wherein the identity and address of the user are verified electronically through Aadhaar
“They who can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety.” ― Benjamin Franklin, Memoirs of the life & writings of Benjamin Franklin What Benjamin Franklin meant by those words is debatable, though the fact remains that for much of history, humanity has traded off privacy for its need for survival, luxury or safety. Privacy was first pioneered by saints and yogis of the past. They devised the way of isolation, where they secluded themselves from
Running lending companies in India has it s own problem. Starting one shouldn't be one of them. In this article we try to list down 3 things that you as a Lending company founder should consider before you start the business.
Aadhaar has been in use for quite some time, especially the debate around how it may allow government to monitor its citizens. Having said that Aadhaar Card was not the only identity card that tried to consolidate all the citizens of this country into a single exhaustible database. In the infographic , The Indian history of Identity, we try to highlight some of the major milestones w.r.t identity in India.
Aadhaar PIL hearing in the Supreme Court culminated on Sept 2018 with a landmark judgement. The Banking and Financial Services (BFSI) Sector has had to face considerable challenges as a result of the Aadhaar judgement. This essay describes these challenges and possible solutions.
Aadhaar auth is used to prove you are who you say you are. KYC or Know your customer, simply put is the process of identifying a customer.