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Nov 03, 2017 08:11 AM IST | Source: PTI

Tata Capital launches Aadhaar-based e-KYC platform for loans

The paperless process, based on customer's consent, involves a simple two-step biometric authentication using UIDAI's Aadhaar database, Tata Capital said in a statement.

Tata Capital, the financial services arm of the Tata Group, today said it has recently introduced an Aadhaar-based biometric Know Your Customer (KYC) process for its select loans.

The paperless process, based on customer's consent, involves a simple two-step biometric authentication using UIDAI's Aadhaar database, Tata Capital said in a statement.

As a standardised, mandatory practice before availing any loan, all financial institutions are required to complete the KYC process of the customers.

The company has adopted the Biometric e-KYC and digitised this process for online loans such as - Personal and consumer durable loans, it said.

The entire process, being digital is easy, instant and more secure, as it avoids the need for any paper exchange between the customer and the sales representative, it added.

 
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