Investor Onboarding
Investor Onboarding allows you to perform Video KYC for an Investor in order to Register the PAN linked to the Investor on a KRA Service and then the Investor becomes KYC Compliant for taking up investments under Mutual Funds.
AMC : Asset Management Company allows individual investors to Invest under Mutual Funds and further the money invested by the Investors is managed by the AMC.
Distributor: The Distributors are the Partners of Asset Management Companies helping them to Sell/Distribute their Mutual Funds.
In Investor Onboarding an AMC is referred to as Customer and Customer Login Credentials will be created and shared for each Customer(AMC).The Customer Id is generated as a result of Customer Login which is associated to the Customer, The Distributor who becomes a Partner of AMC is referred to as Channel and Channel Login Credentials will be created and shared for each Distributor. The Channel Id is generated as a result of Channel Login which is associated with the specific channel. Under each Customer there can be multiple Channels created pertaining to each Distributor.
The Distributors can either Build their own Frontend application(User interface) using Signzy APIs or they can use Signzy’s Frontend application to perform the Investor Onboarding journey.
In Order to begin the Investor Onboarding process for the Investor using Signzy’s Frontend, the required details such as Name, Email, Phone,a Unique Username and the Redirect URL are to be passed to Signzy. After receiving these details an Onboarding Object will be created as a result of which there will be four Login URLs generated(Web Login, Web Autologin, Mobile Login, Mobile AutoLogin) along with the username and Password to Login. The Onboarding Id and Merchant id are two identifiable IDs which are associated with each Investor Object created. Upon Clicking on any of these Links compatible with Web and Mobile respectively the applicant(Investor/Merchant) will be directed to Signzy’s Investor Onboarding Portal to perform the Video KYC.
Welcome Page: The applicant lands on the Welcome Page where they are guided about the prerequisites like documents for ID Proof, Address Proof,Cancelled Cheque, Scanned Signature etc. A pop- up will appear to allow Signzy to Capture the Device location which is used as Geo Tagging/Coordinate to record the location of the applicants where they are performing the Video KYC. The applications will be in “Draft” status throughout the journey until Submission.
Step 1: Proof of Identity (POI): The applicant is allowed to choose the document they want to upload for Proof of Identity from the dropdown having PAN, Driving Licence, Aadhar Card, Passport, Voter id, Offline Aadhar, Aadhar Digilocker. The Document type has to be in .jpg, .jpeg, .png, .pdf format and the Document Size is expected to be less than equal to 2MB. The applicant uploads the Scanned copy or image of the Document and the data is Extracted from the Document is auto populated in the respective fields like Name, UID, Date of Birth, Gender, Address, Issual Date, Expiry Date etc based on the Document type. All the fields are editable incase incorrect data is extracted from the Document.
Offline Aadhar: Aadhaar Paperless Offline e-KYC is a secure shareable document which can be used by any Aadhaar number holder for offline verification of identification. The instruction is as follows:
Download your Paperless Offline e-KYC document. Enter your Aadhaar number. You will receive an OTP on your Registered Mobile Number. Create a Share code for your file. Download the file.
Click on the Start button on Signzy Portal.
Upload the document using the Signzy portal. Choose file type and upload the offline Aadhaar ZIP/XML. Enter the Share Code in case of Zip File in order to extract the zip file.
Aadhar Digilocker: This feature allows the applicant to upload the Aadhar Card using the Digilocker. The instruction is as follows: The investor must click on the login button, a pop up window appears.Then allow the permission to open the pop up window in settings, if case not given. Login into your DigiLocker Account and complete the process. Once they have completed the process, they would close the pop up window. The Aadhar Card from Digilocker would be populated and the extracted data from Aadhar Card will be auto filled in the respective fields.
Step 2: Proof of Address (POA): The applicant is allowed to choose the document they want to upload for Proof of Address from the dropdown having Driving Licence, Aadhar Card, Passport, Voter id, Aadhar Digilocker. The Document type has to be in .jpg, .jpeg, .png, .pdf format and the Document Size is expected to be less than equal to 2MB. The applicant uploads the Scanned copy or image of the Document and the data is Extracted from the Document is auto populated in the respective fields like Name, UID, Date of Birth, Gender, Address, Issual Date, Expiry Date etc based on the Document type. All the fields are editable incase incorrect data is extracted from the Document.
Step 3: Proof of Correspondence Address (CPOA): The applicant is allowed to choose the document they want to upload for Proof of Correspondence Address from the dropdown having Driving Licence, Aadhar Card, Passport, Voter id, Aadhar Digilocker, Rent/Lease Agreement, Electricity/Telephone Bill, Bank Statement and various other Documents having the current Address or attested by Gazetted officer. The Document type has to be in .jpg, .jpeg, .png, .pdf format and the Document Size is expected to be less than equal to 2MB.
Image Compression:Sometimes the images are large in Size(greater than 2MB) hence another capability that is embedded is Image Compression in order to compress the images/documents that have been uploaded as POI, POA, CPOA, Signature, Applicant photo etc to avoid rejections from KRA.
Aadhar Masking/Redaction: Whenever an Aadhar card is uploaded as Proof of Identity/Address/Correspondence Address, the first 8 digits of Aadhar number has to be Redacted(Masked). To Facilitate this, we have embedded Aadhar Masking functionality which redacts the first 8 digits of the Aadhar number.
Step 4: Bank Account Verification: In this step the applicant’s Bank Account can be verified using the Penny Drop Functionality. The applicant is required to upload the Cancelled Cheque and the Bank Account details like the Account Number, Account Holder Name, IFSC code, Mobile number, Address are Extracted. The Document type has to be in .jpg, .jpeg, .png, .pdf format and the Document Size is expected to be less than equal to 2MB. The applicant has to approve the Consent to credit amount ranging from 1 to 1.1 in their Account. The applicant will be asked to confirm the Amount and the Signzy Id which they would have received via SMS.
Step 5: Forms/Personal Information: In this Section the applicant is required to fill their Personal Information like Gender, Marital Status, Father/Spouse Details, Mother Details, Occupation, Place of Birth, Citizenship, Residential Status, Current/Residential Address type, PAN, Aadhar card number, Annual Income, Mobile and Email Address.
Step 6: Fatca Declaration: In this section the applicant is required to declare four mandatory parameters as follows:
Are you a politically exposed person (PEP)? Yes/No
Are you related to a politically exposed person (RPEP)? Yes/No
Are you a resident outside of India? Yes/No
Are you a related person to this investor? Yes/No
In case the applicant is resident outside India then the Additional Information is required such as Country of Jurisdiction of Residence, Tax Identification number (or equivalent number), Place / City of Birth, Country of Birth.
FATCA Address i.e., Choose if the address is Same as the correspondence address. If different the additional parameters like City / Town / Village, District, State/UT, Country of jurisdiction, Postal/ZIP code, Address.
In case the KYC is being performed by Another person instead of the Investor themselves for example incase of Minor/Senior Citizen/Physically Disabled etc, then the Related Person Details like Related Person type, Name, Title, Proof of Identity(Document), UID, Address, KYC no(if exists) etc is required to be filled.
Step 7: Signature: In this step the applicant is required to upload a scanned copy of the signature or they are expected to sign on white Blank Paper and upload the image of the signature. The Document type has to be in .jpg, .jpeg, .png, .pdf format and the Document Size is expected to be less than equal to 2MB. The applicant must agree to the Signzy Consent to link the signature with the Email address and consent to use the hand signature as digital Signature for further processing.
Step 8: Photo/Selfie Verification: The applicant must allow Signzy to access the Camera on the device which appears as a Pop up. They must place their face in the center of the frame with ambient light and click the photo.
Step 9: Video Recording/Verification: The Video step is required to check the liveliness and face match with Documents uploaded. A pre-recorded video is not allowed to upload. The instructions are given on how to record the Video keeping the face in the center of the screen, hold an ID card under the face, speak aloud the OTP displayed, Ensure there is ambient light in the room. The applicant must click on the start button to start recording the Video for 15 Seconds and reading the OTP displayed on the screen. The applicant can either Retake the Video or submit the Video.
Step 10: Contract: The preview of the contract generated is available which consists of all the combined details provided by the applicant in each step and Documents uploaded respectively. The applicant must also confirm the Signer’s name. There are two ways in which the Contract can be Signed, applicants can choose any one method as below:
Smart eSign: The applicant must review the generated Contract thoroughly and verify the details in case of corrections required. They must then provide Consent to use the signature as Digital Signature for the Documents and Consent to allow Signzy to link the Digital Signature to applicant’s Email id/Mobile no for further use of Digital Signature. The applicant must click on Create your Signature and three options will appear:
Draw Signature: With this option the applicant can draw the signature with erase and redraw functionality.
Use Auto Generated Signature: With this option the applicant can choose an auto generated signature in various Fonts as per the applicant name.
Upload Own Signature: With this option the applicant can Upload a scanned copy of the signature or a signature on a white blank paper.
Aadhar eSign: The applicant must review the generated Contract thoroughly and verify the details in case of corrections required. The applicant must click on the Sign your Document button, a Pop-up window will appear which requires the email address and phone number. An OTP is sent to the registered phone number and confirm the OTP. A preview of all the documents is displayed and the applicant must provide the consent to be directed to NDSL E-Gov portal to eSign the document. The applicant will be directed to NSDL E-Gov portal, approve the consent, provide the Aadhar Number. An OTP will be sent to the registered mobile number, Confirm the OTP. A notification will appear for Transaction Successful along with the following details : Signer Name, Signer City, Transaction ID, Country, State/Province, Postal Code, Issued By, Valid Till. The applicant must agree the consent for digitally sign the document and copy it shared with Signzy and Click on Agree and Sign Document. The E-Sign Successful window will appear with the option to download the signed PDF and exit. The applicant will be redirected to Signzy’s application to Submit the application.
Step 11: Submit Application: This button will allow the applicant to submit the application and with this the Verification Engine will be Executed and the data will be verified and submitted. The application status will be changed to Pending in 60-90 seconds after clicking on the Submit button.
Additional Features:
Skip: The Skip functionality is available in three types: Skip Everything, Skip with Restrictions, No Skip. In Skip everything the applicant will be able to move forward to further steps even if they haven’t filled any data in the current step and also they will be able to submit the application. In Skip with Restriction the applicants will be able to forward to further steps even if they haven’t filled any data in the current step, However they will not be able to submit the application without filling the complete details. In No Skip, the applicants will not be able to move forward to further steps until they fill the complete details in the current step.
PAN Validation: Whenever a PAN number is entered by the applicant during the Onboarding journey, Signzy API’s checks if the PAN number entered is valid or not from a Source Database.
Backops Portal: The Backops Admin Portal is a Frontend Dashboard that allows Customer(AMC) to manage and view the applications which are submitted, the status of the applications, what is the progress, how many applications are being submitted and check other important reports. In order to Securely login on the Backops Portal use the Customer Login Credentials.
Check Status and details of applications: AMC can check status of applications along with the details of each application and documents submitted on the Backops Portal. Please refer to Backops Manual for detailed information.
DigiEye Score: The DigiEye Score is Calculated for each document/image the applicant has uploaded helping the Backops user to check the accuracy and quality of the Document.
Due Diligence: Due diligence includes a set of checks for digital verification that help backops users to decide better on the application authenticity. This includes
AML Checks
Sanctioned list
Digital Check
Social Media handles
Geo Tagging analysis
Browser Data
Flag an Application(Safe/Uncertain/Risky): on the Backops the application is flagged as Green(Safe), Yellow(Uncertain) and Red(Risky) on the summary page based on the overall verification and text match results which might partially help the Backops users to classify the application while they are verifying.
CallBack URLs: Change Call Back URL can be setup by AMC on the Backops Portal and to be used once the process is completed by the applicant or the status of the application changes to Accepted/Rejected/Draft for which data can be posted on the CallBack URL. Page Call Back System will allow you to set CallBack URLs for each step like POI, POA, CPOA, Forms, Fatca, Signature, Photo, Video etc. Please refer to Backops Manual for detailed information.
Redirect URL: AMC can set up the Redirect URL on the Backops Portal to Redirect the applicant to their own Website after finishing the Onboarding Journey. Please refer to Backops Manual for detailed information.
KRA Integration and Integration Status: The KRA integration configuration can be performed on the Backops Portal by inserting the KRA user id and password provided by the KRA for specific AMC. In the Integration tab of Backops choose the respective KRA(CAMS/KARVY/CVL) from the dropdown, then view all the applications which are pushed to KRA after being accepted by Backops Admin/User along with the status and responses received from the KRA. Please refer to Backops Manual for detailed information.
Auto Push & Auto Repush: The Auto push functionality is enabled in order to push the applications to KRA once they have been accepted by the Backops Admin/User. The Auto repush Functionality is enabled in order to repush the applications which have failed to be pushed to CAMS due to KRA service down/not connected at certain time. Hence the repush functionality frequently checks for such failed applications and attempts to push them again to KRA until successful.
Aadhar Manual Masking: The Aadhar Manual Masking feature has been implemented on Backops Portal in order to avoid/reduce the rejections of application due to Non Redacted Aadhar number(first 8 digits) in case of Aadhar card uploaded for POI, POA, CPOA. This feature will be available in The Data and Documents Sections of an application when it is in pending status. The button is available under the Aadhar image i.e., Click here for manual masking, a pop up window will appear with the Aadhar image. The Rotate Right/Left button can be used to Rotate the image, the Zoom in/Zoom out can be used to Zoom the image. The color box to choose the color for masking and the size of the brush can be Chosen from the dropdown(5,10,15..) Masking can be performed for the first 8 digits of the Aadhar number and Click on the Done button and the delete button will discard the changes.
MIS Reports: The detailed MIS Report is available and shared with Customers(AMC) through Email. It consists of a total number of onboarding(submitted,incomplete) along with details like name, email, Date and Time of Creation, Date and Time of Submission, Status etc. The MIS Report can also be downloaded from Backops Portal. Please refer to Backops Manual for detailed information.
Email Notifications: AMC can set up Email Notifications(Enable/Disable) for each onboarding applicant on the Backops Portal through which the applicants will receive an email notification whenever their application is accepted/rejected/moved to draft(redo). The Default Subject, Default Message and the Rejection Reasons/Draft Reason can be configured by the Customer(AMC). Additionally Signzy also sends email/sms notification to every applicant in case they drop off in between the Video KYC journey along with the link to complete the journey from the step they had Dropped off from.
Distributor Dashboard/Distributor Backops: The Distributor Dashboard is a Frontend Portal created for Distributors to manage and View the applications onboarded under them. The Distributors need to securely login to the Dashboard with the Dashboard Credentials shared with them. Further under the Settings they can Add AMC using the Channel Login Credentials for each AMC they have integrated with. There are two versions of the Distributor Dashboard:
Basic Version(View Only): This Version of Dashboard will enable the Distributor to View Details of their applications as per the Status(Accepted/Rejected/Pending/Redo) along with the Documents submitted for each section, Rejection/Draft Reason by AMC, Creation and Submission Date&Time of the application. They Can filter out applications based on AMC and Status, also Sort By Date(new to old) or (old to new) option is available. The features are listed as follows:
Overview of data containing: Total Number of applications, Number of applications Accepted, Number of applications Rejected, Number of applications Pending.
Filter applications based on Pending, Accepted, Rejected, Moved to draft.
View all the submitted applications and the respective data.
Graphs and Analytics for: No. of applications for a Day, No. of applications for a Week, No. of applications for a Month, Comparison graphs of the previous month/week and and percentage of total verified onboardings.
Following details for Pending, Accepted, Rejected and Redo Applications: View Data and documents, Cross Verification, Due Diligence, Forensics, Forms, Contract, Internal Notes and comments
View integrating status by choosing the respective KRA(CAMS/KARVY) from the dropdown and check applications which are pushed to KRA after being accepted by Backops Team along with the time, status and responses received from the KRA.
FAQ Sections is available which contains General FAQs, KYC related FAQs and AMC Related FAQs.
Advanced Version: This Version provides advanced functionalities which allows the Distributors to Manage their applications such as they can accept, reject or move to draft. The features are listed as follows:
Overview of data containing: Total Number of applications, Number of applications Accepted, Number of applications Rejected, Number of applications Pending.
Filter applications based on Pending, Accepted, Rejected, Draft/Redo.
View all the submitted applications and the Following details for Pending, Accepted, Rejected and Redo Applications: View Data and documents, Cross Verification, Due Diligence, Forensics, Forms, Contract, Internal Notes and comments.
Verify all the incoming applications and Accept/Reject/Move to Redo these applications at Distributor level. Only the accepted applications by the Distributor will be submitted to AMC for further processing. The rejected/Redo applications have to be resubmitted by the applicant.
Capability to Create Backops Admin, which further can create Backops users to verify and approve all the applications.
Download MIS Report at Distributor level.
Configure Rejection and Redo Reasons.
Grant based email setting is provided in case distributors wish to allo Signzy to send email notifications to their applicants and percentage of total verified onboardings.
Graphs and Analytics for: No. of applications for a Day, No. of applications for a Week, No. of applications for a Month, Comparison graphs of the previous month/week.
View integrating status by choosing the respective KRA(CAMS/KARVY) from the dropdown and check applications which are pushed to KRA after being accepted by Backops Team along with the time, status and responses received from the KRA.
FAQ Sections is available which contains General FAQs, KYC related FAQs and AMC Related FAQs.