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Banking & Financial Services Use Case
KYC That Moves at
the Speed of Finance
QuickEKYC enables banks, NBFCs and fintechs to verify customers, co-applicants and agents instantly. Boosting compliance and reducing fraud by up to 70%.
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Key Challenges in BFSI KYC

⏳ Lengthy Customer Onboarding

Manual KYC processes delay account opening, frustrating customers and reducing conversions.

🎭 Identity Fraud & Impersonation

Fraudsters use fake or stolen identities to open accounts, apply for loans, or conduct illegal transactions.

📄 Manual Loan Applicant Verification

Traditional checks for borrowers slow down loan processing and increase operational costs.

🔁 Repetitive KYC for Multiple Products

Customers must repeat KYC for different services like savings, credit cards and investments reducing user satisfaction.

⚠️ Limited Real-Time Fraud Detection

Delayed verification increases risk in instant payment apps, BNPL services and micro-loans.

📉 High Drop-off Rates in Digital KYC

Users abandon the process due to complex steps, unclear flows, or poor mobile experiences.

Real Use Cases in Banking & Financial Services

Account Opening

Instantly verify new users during digital onboarding using:

  • Aadhaar Verification
  • PAN Validation
  • Bank Account Verification

Opens accounts in under 5 minutes, with reduced drop-offs and paperwork.

Loan Application

Validate borrower identity and income proof using:

  • PAN Validation
  • Credit Report
  • Bank Cheque OCR

Speeds up approval and lowers default risk through real-time background checks.

Digital e-SIGN for Agreements

Allow customers to sign digitally with:

  • Aadhaar-based eSIGN
  • Signature-based eSIGN

Speeds up onboarding, agreements and reduces paper handling by 100%.

Measurable Benefits for Banking & Financial Services

Up to 80% reduction in paperwork across branches & channels

Identity fraud risk lowered by 70–75%

Loan processing speed improved by 60–70%

100% paperless document signing via eSIGN integrations

The Last Word on Smarter KYC

In the age of digital banking and fintech, QuickEKYC provides the trust infrastructure needed to scale fast and stay compliant. From onboarding customers to verifying staff and preventing loan fraud, it helps BFSI players deliver smarter, faster and safer services.

If you’re a bank, NBFC, investment platform, or insurance firm, QuickEKYC is your digital bridge between regulation and innovation.

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Frequently Asked, Clearly Answered
  • Why is KYC critical in the BFSI sector?

    KYC is mandatory to verify the identity of customers, prevent fraud, comply with RBI/SEBI/IRDAI regulations and enable secure onboarding across financial services.

  • Can QuickEKYC be used for digital account opening?

    Yes. QuickEKYC supports real-time Aadhaar, PAN and bank verification along with face match and liveness checks enabling account opening in under 5 minutes.

  • Does QuickEKYC help with lending and credit approval?

    Absolutely. QuickEKYC verifies borrower identity, bank details, employment status and even income documents, streamlining loan applications and reducing defaults.

  • How does QuickEKYC prevent identity fraud in financial transactions?

    Through a combination of document verification, face match and liveliness detection, QuickEKYC blocks fake accounts and impersonation attempts effectively.

  • Can we use QuickEKYC for onboarding agents, DSAs, or internal staff?

    Yes. QuickEKYC can verify staff, agents, or channel partners using PAN, Aadhaar, UAN and other identity checks, ensuring clean hiring and distribution practices.

  • What kind of documents can be verified using QuickEKYC?

    PAN, Aadhaar, Voter ID, Driving License, Passport, Bank Account (penny drop), GSTIN, CIN, ITR (OCR) and more.

  • Can QuickEKYC be integrated into mobile banking or core systems?

    Definitely. It offers REST APIs, iFrame forms and webhooks that can be integrated into mobile apps, CRMs, lending platforms and CBS systems.

  • How does QuickEKYC improve customer onboarding experience?

    By reducing paperwork, removing the need for physical visits and verifying identity in minutes, QuickEKYC boosts conversion rates and customer satisfaction.

Explore QuickEKYC’s Full Suite of Identity Solutions
KYC Verification APIs
Instantly verify Aadhaar, Driving Licence, bank accounts and more with powerful KYC APIs built for scale and compliance.
🔎 Explore APIs >
eSign
Digitally sign documents using Aadhaar-based or standard eSign. Fast, secure and legally compliant.
📄 Start Signing >
QuickOCR
Auto-extract data from IDs like Aadhaar, DL, Passports and many more using AI-powered OCR.
📷 Scan & Verify Now >
Bank Verification API
Verify bank accounts instantly with real-time account number, IFSC and holder-name matching. Eliminate payout errors and prevent fraud.
🏦 Explore APIs >
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