Step 1
Collect the users’ PAN details for authentication
- Payments
Payment Collections & Settlements
Multi-Collect
UPI Payment Gateway
Recurring Payments
Instant Payouts
Escrow Accounts
Ledgers
- Banking
Banking-as-a-Service Platform
KYC & Onboarding
Hyperstreams
Bytes
UIStreams
- Resources
- Company
Table of Contents
- What is CKYC?
- Features of CKYC
- CKYC Number
- Methodology
- Types of CKYC Accounts
- Decentro’s CKYC Services Stack
- Where You Can Use It
- Key Features Of CKYC
- How Can Decentro Help
- FAQs
What Is CKYC?
Central Know Your Customer (CKYC) is a centralised registry established to store and manage KYC (Know Your Customer) documents for individuals using financial services. The Government of India introduced CKYC as a one-stop point for individuals’ KYC requirements. Further, CKYC falls under the Central Registry of Securitisation Asset Reconstruction and Security Interest; CERSAI manages the entire CKYC registry and can collect, secure, and digitally safeguard a user’s KYC details.
Features of CKYC
CKYC is a 14-digit number associated with the customer’s identification.
The information is securely saved in electronic form. The supplied document is then validated with the issuer.
If the KYC information changes, all relevant institutions are notified.
Verify Background Information of an Employee.
CKYC Number
For CKYC registration, a user or entity can visit any financial institution regulated by RBI, SEBI, or IRDA, to name a few. The user must submit documents for identity and address proof, such as PAN, Aadhaar Card, Passport, or Driving Licence, along with a filled-in CKYC form.Once verified, the user is allotted a 14-digit number known as the CKYC number, which is tied to the user and forms an ID for them. Using this CKYC number, they can access their details and also update them from time to time. This is then checked and verified by financial institutions during key.
Methodology
Step 2
Lookup in the CKYC database [CERSAI] for a match with PAN
Step 3
If you find a match, you get direct access to a user’s KYC details
Types of CKYC Accounts
Normal
Account
Created with PAN, Aadhaar, Voter ID, Passport, Driving License, or NREGA job card as ID proof.
Simplified
Measures Account
Created with any other Officially Valid Document (OVD), prefixed with ‘L’ in the CKYC identifier.
Small
Account
Created with basic identifying details and a photograph, prefixed with ‘S’ in the CKYC identifier.
OTP-Based
eKYC Account
Created through OTP-based eKYC and a photograph, prefixed with ‘O’ in the CKYC identifier.
Decentro’s CKYC Services Stack
CKYC Search
CKYC Search API can enable financial institutions to search through the Central KYC Registry (CKYCR) records, seamlessly accessing essential customer information. By leveraging this feature, institutions can expedite customer onboarding processes while minimising duplication efforts and enhancing operational efficiency.
CKYC Download
The CKYC Download API allows institutions to quickly access verified customer records for individuals and entities, streamlining risk assessment and compliance. It enables informed decision-making and easy regulatory adherence.
CKYC Upload for Individuals
The CKYC Upload API streamlines KYC onboarding by securely uploading customer data to CKYCR. It automates data submission, boosting efficiency, minimising errors, and allowing institutions to focus on customer experience.
CKYC Upload for Legal Entities
Streamline KYC compliance for legal entities with Decentro’s CKYC Upload API. This feature enables seamless submission of corporate KYC data to the CKYCR, ensuring regulatory compliance and expediting onboarding. CKYC Services revolutionise KYC processes, providing a robust solution for financial institutions to manage customer data and compliance efficiently.
Where You Can Use It
Financial
Institutions
For onboarding new customers, verifying identities, and ensuring compliance with regulatory requirements.
Banks
To update and maintain accurate customer records and streamline KYC processes.
Insurance
Companies
To validate customer information and manage policyholders’ records.
Lending
Platforms
These are used to verify the identity of borrowers and assess risk.
Investment
Firms
To ensure compliance with Know Your Customer (KYC) regulations and maintain accurate investor records.
Government
Agencies
Access and verify personal data for various services and benefits.
Key Features Of CKYC
Secure Data
Transmission
Ensures that KYC data is transmitted securely to CKYCR.
Automated
Data Entry
Reduces manual data entry and associated errors.
Real-Time
Processing
Updates records quickly and accurately.
Real-Time
Updates
Reflects the most current information available.
Instant
Access
Retrieve customer records or data quickly.
Verified
Data
Provides access to up-to-date, verified KYC information.
Ease of
Integration
Compatible with existing systems for seamless data handling.
Regulatory
Compliance
Ensures that downloaded data adheres to legal and compliance standards.
CKYC For Your Business - How Can Decentro Help
Decentro's API banking platform has CKYC APIs to help businesses like yours speed up customer onboarding time by 95% and provide a seamless experience to your customers, partners, and vendors!
Why CKYC for your business?
Smoothen customer, partner, or vendor onboarding process.
With a single CKYC API hit, you can access all critical documents required from your customers after taking their consent.
Get seamless access to necessary information. Ergo, you can provide a much better experience for your customers.
Avoid the hassle of mandating offline KYC from your customers. CKYC is already OSV.
Reduce overhead expenditures significantly for user verification with a minimal cost for each CKYC API hit.
Access our Product Guide
API DocumentationFrequently Asked Questions
What are the benefits of CKYC?
CKYC was introduced to ease the KYC process by,
Reducing time taken for KYC
Unifying KYC across Banking, Financial Services, and Insurance (BFSI)
One customer, one KYC verification
Increased KYC usability
Single updation
Optimized costs for Financial Institutions
What are the critical documents for CKYC?
Here are the documents required for CKYC
A filled & signed cKYC form
A self-attested Proof of Identity
A self-attested proof of Address
A photograph
What is the difference between eKYC and CKYC?
eKYC: Customers’ identities are verified digitally through the use of a process known as ‘Electronic KYC’ or eKYC. The UIDAI database aids in eKYC identification verification. This is possible after the customer confirms the eKYC request they receive via OTP, offline via XML files, or through the QR code on their Aadhaar card.
CKYC: CKYC is done to assist investors in conducting their KYC only once. Any RBI, IRDA, SEBI, or PFRDA registered company does not require the investor to complete repetitive KYC procedures. It facilitates investment participation and easy client onboarding.
How can I check a CKYC number?
The procedure for checking CKYC status online is outlined below
Login to the CKYC Website using the Portal.
Enter your PAN Card information.
Insert Security Code.
Your CKYC Number will be displayed once you’ve completed the procedures above.
Is CKYC Mandatory?
While KYC is a required step, CKYC is optional. If you don’t use CKYC, you’ll have to go through the KYC process several times.
You might also like
UPI ID Verification
Ensure a secure digital transaction by validating and verifying the UPI address.
Bank Account Validation API
Initiate instant bank account verification through account numbers validation (and other details)