CKYC(Central KYC): Here’s Everything You Need to Know

CKYC-process-automation

At CAPIOT, we have been helping our clients – banks, SFBs, NBFCs – to comply with CKYC guidelines. In our conversations with people from operations, compliance and technology team, we came across several questions which we have answered and compiled in this blog post. This will be helpful for all those who are responsible for CKYC related compliance in their organizations. (You may want to skip to the last few questions if you already have some knowledge of CKYC but want to know how to automate it.)

What is CKYC?

CKYC which stands for Central Know Your Customer is an initiative by the Government of India under which a registered customer is given a unique CKYC identifier that is valid and used across the BFSI segment – banking, insurance, mutual funds, provident funds, stockbroking, and other services. This is very convenient as the customer doesn’t have to register himself separately with every other service provider he interacts with. Read More

Is your procurement process lacking intelligent analytics?

procurement spend analytics

Procurement management in short is an efficient way to manage spend, using efficient optimization of suppliers, vendors and getting a visibility into spend across many dimensions with the aim to gain maximum savings. Some companies employ the use of a procurement management software to handle their processes, while others still prefer to manage their spend manually. However, in both the methods, what is found lacking is intelligent analytics.  Read More

Partner Management Automation – What does it mean for banks

Partner Management Automation

Customer experience today is everything. Today’s consumers not only desire lesser wait time but also full attention, personalized service and automation. As it is for an individual consumer, the same is applicable to corporate customers as well. However, we are seeing banks still working in their traditional one-size-fits-all platform that use retail banking technology even for their partners with little to no bespoke changes. Today’s digital natives and startups are already bringing to life the idea of tomorrow and while all the other processes of business is seeing some or the other form of innovation and disruption, banking is still lagging behind due to hesitant adoption of innovation. To cope up with the changing dynamics of the new-age business, there is demand for smarter banking solutions that can be integrated in these businesses without much hassle and provide a much needed transparency.  Read More

Automating Escrow Management with CAPIOT’s XCRO platform

Escrow Management Software

Escrow, in short is an arrangement where a neutral third party is responsible for safekeeping the escrow assets such as funds, securities, IP, documents etc. to be released only when certain conditions are fulfilled by the parties entering into contract. Escrows can range from few days to few years depending on the nature of the deal. Banks are one of the primary escrow service providers globally and since they have presence in different geographies, they are preferred over other organizations to be the escrow agents. Read More

Robotic Process Automation – Underwriting in Life Insurance for New Business – 1

Underwriting in Life Insurance for New Business
Recently, we are seeing a lot of interest being generated around Artificial Intelligence, Machine learning and its specialized subset “Deep Learning” or rather Neural Networks to solve a wide variety of problems. The application of machine learning now covers a wide spectrum of industry domains. While the concepts of neural networks have been there for a while the development in computer hardware and processing power, Internet of Things (IoT), abundant availability of data have made possible their implementation and applicability across industries. Read More

Robotic Process Automation – Underwriting in Life Insurance for New Business – 2

Underwriting in Life Insurance for New Business

This blog is in continuation to my previous blog on Introduction to Robotic Process Automation for Underwriting in Insurance New Business.

People familiar with the analytics space would have heard of affinity analysis or association analysis. These analyses are very frequently used in the retail domain particularly in analyzing the propensity of a customer in buying an item given he has already brought another item(s). Such an analysis in the retail domain is known as a Market Basket analysis and has provided some amazing insights on the buying pattern. Perhaps, one of the most interesting stories related to the affinity analysis is the sale of beer and diaper at Walmart which has intrigued many analysts. Affinity analysis has found applications not only in retail but many other domains as well. Read More