"Partnering with Meon to integrate Aadhaar KYC into our platform has been a game changer. Not only has it made the onboarding process incredibly fast and easy for our customers, but it has also opened up new growth opportunities for us. We are seeing higher customer acquisition rates, reduced operational costs, and greater compliance confidence. This integration has truly enhanced our service offerings and allowed us to better serve our investors."
Manashvi Securities Limited
Trusted by more than 300 enterprises
Manashvi is a leading financial services company, offering a diverse range of services, including mutual funds, IPO (Initial Public Offering) investments, and other relevant financial services. The company aims to provide investors with a comprehensive platform that caters to their needs in managing and growing their wealth.
Manashvi has positioned itself as a trusted financial partner for individuals who are looking to navigate the complex world of investments, with a focus on ease of use and customer-centric services.
Before adopting our Aadhaar KYC integration, Manashvi faced several challenges related to the customer onboarding process:
Manual KYC Process: The traditional KYC process which often involves document submission and physical verification, was time-consuming and cumbersome for both customers and the company. Customers were often required to submit physical documents, which can lead to delays and inefficiencies in account opening.
Limited Customer Reach: The need for physical verification and the complexities of traditional KYC limited Manashvi’s ability to expand its customer base quickly. Especially in rural or remote areas where access to physical locations or financial advisors was limited.
Compliance Risks: Given the growing importance of regulatory compliance in the financial sector, it was essential to ensure that KYC processes adhered to government regulations. But it was all challenging with the manual processes.
User Experience: The manual onboarding process resulted in a less-than-optimal user experience, with customers experiencing delays, confusion, and frustration due to lengthy verification procedures.
In response to these challenges, Manashvi partnered with us to implement Aadhaar KYC for online verification and account opening. Aadhaar, being the national identification system in India, provides a quick, secure, and reliable method for verifying an individual’s identity.
Since the implementation of Aadhaar eKYC, Manashvi has witnessed significant improvements across various areas of its business including:
Faster Onboarding Process : By implementing our advanced eKYC services, the average time for account opening has been reduced from several days to just minutes. This has improved the overall efficiency of the customer onboarding process.
Increased Customer Base : With the elimination of the need for physical verification with Aadhaar KYC, Manashvi has been able to reach a larger audience, including those in remote areas who previously faced barriers to accessing financial services. This has resulted in a measurable increase in customer acquisition.
Enhanced User Experience : After integrating Meon’s advanced Aadhaar eKYC solution, Manashvi’s customers have reported a much smoother and faster onboarding experience. The user-friendly interface has eliminated confusion and frustration. This helps in increasing satisfaction levels and engagement with the platform.
Improved Compliance : Meon’s Aadhaar KYC process ensures that all customer verifications are compliant with regulatory standards. So that they can significantly reduce the risk of non-compliance.
The integration of Aadhaar eKYC for online verification and account opening has played a crucial role in transforming the way Manashvi conducts its business. By leveraging the efficiency, security, and convenience of Aadhaar authentication, Manashvi has been able to streamline its processes, expand its customer base, and provide a superior user experience.
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