BSE launches e-KYC for onboarding of investors
New Delhi, May 26
The Bombay Stock Exchange (BSE) on Tuesday launched e-KYC services on its mutual fund platform, a move that will provide seamless experience of onboarding to a new investor.
Besides, the exchange is planning to provide e-KYC services to stock brokers and other approved intermediaries in the near future, the BSE said.
To provide this facility to brokers, the bourse will issue Application Programming Interface (APIs) for such brokers and other intermediaries to connect their IT systems to BSE’s e-KYC system.
BSE StAR MF launched BSE e-KYC services — which is Aadhaar and video KYC-based investor onboarding solution — with effect from Tuesday.
Spelling out key features of the e-KYC solution, the exchange said it is a user-friendly web and mobile interface for different participants of mutual fund industry. It allows digital verification of KYC documents and is integrated with KRA (KYC registration agency) systems.
Investors will experience real-time approval in case of successful verification of all IDs and documents.
“BSE StAR MF is the first MF platform to enable e-KYC, which will go a long way in improving the experience of onboarding investors in a seamless manner. It will simplify the KYC process and improve the TAT (turnaround time) for completing it,” said Ganesh Ram, Business Head – Mutual Funds at the BSE. — PTI
User-friendly move
- It is a user-friendly web and mobile interface for different participants of mutual fund industry
- It allows digital verification of KYC documents and is integrated with KRA (KYC registration agency) systems
- Investors will experience real-time approval in case of successful verification of all IDs, documents
.
