Fintech

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2 min read

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June 1, 2019

Aadhaar Masking — Solution to the latest RBI directive

On May 29, 2019 the Reserve Bank of India updated the master direction on KYC guidelines for regulated entities.

On May 29, 2019 the Reserve Bank of India updated the master direction on KYC guidelines for regulated entities.

On May 29, 2019 the Reserve Bank of India updated the master direction on KYC guidelines for regulated entities. The updates in the KYC process were mainly targeted at adhering to the Aadhaar and Other Laws Ordinance that was passed by the Cabinet in March 2019.

Aadhaar Card masking

What has changed?

RBI guidelines

One such update makes it mandatory for RBI Regulated Entities to mask or blackout the Aadhaar number of all customers from the Aadhaar image as part of the KYC process.

What does it mean for Financial Institutions?

Aadhaar continues to be the commonly submitted document in the KYC process. Financial Institutions now need to mask Aadhaar numbers on all the customer images that they store.

How to become compliant?

HyperVerge’s Automated Aadhaar Masking feature can partially or completely mask the Aadhaar number on an image in real-time. This has been part of our Fintech Platform since Jan 2019 and can be used for all new and existing customer records.

Get Started for Free!

Are you an existing client? This service is available for all existing clients as part of the product suite. Please get in touch with your relationship manager or drop us an email at contact@hyperverge.co to learn more.

Not an existing client? You too can get started masking your customer's records. You can book an appointment with our expert and we would be happy to help you. You can also drop us an email at contact@hyperverge.co to learn more.

What is HyperVerge Fintech Platform?

HyperVerge’s Fintech Platform is the market leader in Asia and is used by leading consumer lenders, banks and telecom companies such as Reliance Jio, FE Credit, KrazyBee, MoneyTap, SlicePay for Digital KYC, Fraud check and Income check. This platform leads the market in both volumes and accuracies.

  • Proven at scale and currently processes more than 25M customers a month
  • Holds top accuracies in the market for technologies such as ID card Digitisation, FaceMatch, Photo based liveness.
  • ISO 27001 certified
  • Loved by our customers

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