HyperVerge Identity Verification Platform
Book a demo

Have questions?
We got answers

What is the significance of KYC in Securities and brokerages sector?

KYC is a mandatory process for financial institutions, including securities and brokerages, to verify the identity of their customers. It helps prevent financial fraud, money laundering, and ensures compliance with regulations set by (SEBI).

What are the penalties for non-compliance with KYC norms in India?

Brokerages or financial institutions failing to adhere to these norms might face heavy fines and legal consequences.

What are the major challenges Securities & Brokerages companies face during onboarding?

Customer drop-offs during onboarding is one of the major challenges these companies face. The reasons for customer drop-offs include:

  • Lengthy onboarding process
  • Downtimes: Digilocker, eSign, KRA, etc
  • Limited visibility on friction points