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In the past, onboarding was the most onerous thing for the financial industry. A lot of drop off happened due to documentation. eKYC and bio metric KYC simplifies the onboarding process and time.
Purpose of eKYC is to enhance productivity through ease of transaction and cost of transaction. Customer onboarding happens quickly and there is no longer paper blocks at every stage.
It is a great marketing tool and allows sales people to talk to potential customers and onboard them immediately. All you need is an app on the phone.
It is relatively cheap for an IFA and while there may be structural challenges, partnering with an AMC eases those issues.
During free educational seminars, IFAs can offer eKYC as something tangible for audience to take away. They are more likely to contact you to do investments once they are in system.
how e kyc is done, is there any difference between e kyc and biometric e kyc. is there any limit of investment in ekyc like 1 lakh
