Phase 1 Rollout of eKYC for POSB – Important Guidelines and Process Flow
Date: 06.01.25
As part of the ongoing digital transformation initiatives in our Post Offices, we are pleased to announce the Phase 1 rollout of eKYC (Electronic Know Your Customer) for Post Office Savings Bank (POSB), which will take effect on 06.01.25. This is a significant step towards streamlining and modernizing our KYC procedures, ensuring a smoother, quicker, and more secure process for our customers.
Download Phase 1 Rollout of eKYC for POSB – Important Guidelines and Process Flow in PDF
Key Information:
- Date of Rollout: 06.01.25
- Objective: Each Post Office is required to complete at least one eKYC-based transaction on the day of the rollout.
What is eKYC?
eKYC refers to the electronic process of verifying the identity of customers using digital means, eliminating the need for paper-based forms. This process will simplify customer verification and help ensure the accuracy and security of customer data.
Process Flow for Re-KYC (as explained by System Administrator BG GPO Sri Keerthi):
Customer Initiates the KYC Process:
- The customer provides their Aadhaar details and biometric information.
System Verification:
- The system automatically verifies the Aadhaar details and compares them with the provided biometric data.
- Once verified, the system retrieves relevant customer details, such as address and identity.
Updating Customer Details:
- If any discrepancies are identified in the KYC data, updates are made accordingly.
- A digital acknowledgment is generated, confirming the successful completion of the eKYC process.
Finacle Screen Guidance:
- Sri Keerthi has provided detailed guidance on navigating the Finacle system to perform eKYC transactions. The Finacle screen will display prompts and fields for completing the KYC procedure.
Important Guidelines for All Post Offices:
- Ensure that all systems are up-to-date and have the required software configurations.
- Make sure to complete at least one eKYC transaction on 06.01.25 to familiarize yourself with the process.
- Train your staff in advance to ensure smooth operation on the day of the rollout.
- Technical support is available for any issues encountered during the process.
We encourage all Post Offices to take the necessary steps to be fully prepared for the eKYC rollout. This is an important step in improving customer service, ensuring compliance, and embracing modern technology in our banking operations.
For any questions or issues, please reach out to the designated support team.
Let’s work together to make this a successful launch!
