This platform will allow you to upload various KYC related data and will get in verified live from the respective sites or will use techniques to ensure the genuinity of the document submitted as well as avoid a lot of data entry as the data also will be pulled from the respective sites so if there are changes to be made only you need to enter data otherwise the data entry also can be avoided. This is for KYC purpose capture and authentication usages.
This platform can be further used for Credit Verification where we can get the details of the person from the Bank Statements submitted by him/her in digital form or images of the physical copy which can be analyzed in an manner a lot of analysis data is generated in a jiffy and management can take informed decisions to approve the loan since it is a system driven action and no favourism can be done in approvals. This can be done for GST for customer (SME) loans where the SME will action the permission in his GST portal login whereby, we are allowed to take the GST data of the same for evaluation of the loan approval however each time, we attempt to do the extraction of data customer (SME) will get an OTP in his registered mobile and this is used in the system for access so with the consent of the customer only we can take such data but it gives the financial institution to take an informed decision. We could take the health of such business we fund by the same action in a frequency of 3 months or so. We can also provide access to Income Tax details and MCA etc. as per the case maybe.
You may see the scope of verifications which will be increasing in future we can also do GST, Bank Account Verification and Vehicle Details Verification with Registration No. etc.