1. Instantaneous: Gone are the days when you had to way for days at length for the process to move ahead after the documents were verified. With eKYC everything becomes automated, and all the data can be easily transferred without need for any manual process.
2. Compliant to the IT ACT: eKYC accompanied by digital signatures is considered legally equivalent to the physical documents under the IT Act (Information Technology Act) of 2000.
3. Complete Transparency: With eKYC, all the data is stored permanently online, thus making it easier to track any faulty activity which might occur in carrying out transactions or any other services.
4. Paperless System: With eKYC you easily replace the need of having to manage endless physical documents. This not only allows the financial institutions to become eco-friendly by using cloud-based system but also helps to reduce the costs which are associated with regular KYC compliance procedures.