HDB Financial Services Leads the Way as the First NBFC to Launch NPCI's e-KYC Setu System

BusinessWire India
Mumbai (Maharashtra) [India], September 4: HDB Financial Services (HDBFS), a leading non-banking financial company (NBFC), has set a new industry benchmark by becoming the first to integrate the National Payments Corporation of India (NPCI)'s e-KYC Setu System. This cutting-edge system, developed through a collaboration between the NPCI and the Unique Identification Authority of India (UIDAI) is designed to streamline the account opening process, offering customers a faster, simpler, and more secure way to access financial services.

By leveraging the e-KYC Setu system, HDBFS customers can now open loan accounts with ease, eliminating the need for uploading documents or branch visits. The secure OTP-based journey enables customers to authenticate their identity conveniently from any location. This fully digital process not only accelerates customer onboarding but also ensures a hassle-free experience.

Speaking on this development, Ramesh G, MD & CEO of HDB Financial Services, said, "As a prominent NBFC in India, HDBFS is committed to enhancing the customer experience through innovation. The e-KYC Setu System will add value by making the customer journey seamless and efficient. We are dedicated to strengthening our digital foundation and are confident that this will positively impact our customers and support the nation's digital transformation."

NPCI spokesperson added, "The launch of e-KYC Setu System is an important step to ensure that everyone can benefit from India's growing digital economy. The e-KYC Setu system will be crucial in digitalizing the processes for loan disbursements, account openings for NBFCs, PPIs, MFIs, and other RBI-regulated entities. We're happy to work with HDBFS on this initiative and promote financial inclusion.
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