eKYC

Definition : electronic-Know Your Customer
Category : Governmental » Standards
Country/Region : India India
Popularity :

What does eKYC mean?

Electronic-Know Your Customer (e-KYC or eKYC) is a paperless Know Your Customer (KYC) authentication process, wherein the identity and address of the subscriber are verified electronically through Aadhaar authentication. In short eKYC is an electronic version of KYC process which is administered by the Unique Identification Authority of India (UIDAI). eKYC identification method can be used to open account with banks, mutual fund, mobile connection and similar services which need KYC process.