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Report on Client Onboarding

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48 views

Report on Client Onboarding

Uploaded by

harsh.chauhan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Client Onboarding

Key Steps
Simple Login:

• OTP Authentication: Secure login through OTP sent to registered mobile numbers or emails.
• Auto-Mapping Folios: Existing folios automatically linked to the user’s account.

eKYC Process:

• Aadhaar-Based Verification: Users complete KYC using Aadhaar, verified via OTP.
• Support for KYC Upgradation: Initial limits apply, with assistance provided for upgrading KYC
status.

Onboarding Process
Account Creation

• PAN and DOB Entry: Users begin by entering their PAN and date of birth.
• Secure Login: Enhanced security through OTP-based login.

Personal Details and Verification

• Personal Information: Update salutation, place of birth, identification type, and identification
number.
• Address and Contact Details: Verify and update addresses and contact information as per KYC
records.

Additional Details

• Identity and Income: Select identity details and fill in mandatory income information.
• FATCA & Bank Account Details: Update bank account details and complete FATCA/CRS
declarations.

Investment Management
Paperless Transactions

• Seamless Investing: Invest, switch, or redeem funds without physical forms or signatures.
• Multiple Options: Make multiple lump sum investments or start SIPs simultaneously.

Portfolio Tracking

• Comprehensive View: Detailed views of investment performance, including current value,


returns, and transaction history.
• Historic Transactions: Access a complete view of financial and non-financial transactions
across all schemes and folios.

Alerts and Notifications


Proactive Alerts: Receive notifications for systematic plan expiries and transaction updates to ensure
timely actions.

Consolidated Information
Scheme Information

• Organized Data: Browse and filter schemes by category and plan type, view performance
history, and use tools like returns calculators.
• Goal Planning: Visualize investment journeys based on top investor goals.

Personalized Experience
• User Customization: Add preferences and disclosures, providing a tailored experience
for each user.
• Joint Account Handling: Easily manage up to three applicants under a single client ID,
repeating the onboarding steps as needed.

Finalization
Investment & Risk Profile

• Profile Completion: Fill in investment and risk profiles to align with user goals and
preferences.
• Fee and Investment Details: Select applicable fees and enter the quantum of investments,
submitting for final review.

Submission and Processing

• Back-office Review: Client details are sent to the head office back-office team for
further processing and final approval

• Extract: ePAN, Digi locker, ICR/OCR API integration to extract OVDs’ and pre-fill
account forms.
• Verify: Aadhaar based eKYC integration solutions to collect and verify client data.
• Capture: Video-based KYC (VKYC) & client identification (VCIP) solutions using facial
& spoof detection feature to capture client presence.
• Validate: Data validation
Onboarding Automation Benefits
• Paperless & contactless remote onboarding
• Quick & frictionless KYC verification
• Intelligent client identity & validation system
• Superior Client Digital Onboarding Benefits for Portfolio and Wealth Management Services
• Seamless user navigation & personalization
• Risk-free portfolio data management system
• Reduced operational & compliance cost
• Enhanced due diligence with KYC compliance
• Zero complexity in new portfolio account opening

Digital Components

Component Description
User Interface and An intuitive, easy-to-navigate, and visually appealing interface is crucial
Experience (UI/UX) for for facilitating a smooth onboarding journey for clients.
data collection
Identity Verification and Ensuring the client's identity is accurately verified while complying with
KYC Compliance KYC regulations. This includes methods such as document verification,
biometric authentication, and identity checks.
Data Security and Privacy Implementing stringent security measures, such as encryption, secure
data storage, and controlled access, to safeguard personal and financial
information from unauthorized access.
Integration with Back-end Seamless integration with existing back-end systems for the efficient
Systems transfer and processing of client data, ensuring secure management and
accessibility of client information.

Non- Digital Components

Component Description
Initial Consultation Personal interaction for complex investment advice.

Manual Documentation For clients not fully integrated into digital platforms.

Sources-
1. https://sifma.org/wp-content/uploads/2020/04/IHS-Markit-and-SIFMA-AMG-The-Future-of-
Client-Onboarding.pdf
2. https://blog.dspim.com/invest-smarter-not-harder-discover-our-new-app
3. https://www.dspim.com/invest/
4. https://cafemutual.com/news/industry/14980-mf-industry-simplifying-kyc-to-onboard-new-
clients
5. https://www.feathery.io/blog/client-onboarding-financial-services
6. https://isolve.in/istart-digital-kyc-onboarding/portfolio-wealth-management/
7. https://www.unificap.com/sites/default/files/invest_directly/Digital%20Onboarding%20-
%20Walk%20through.pdf

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