HDB Financial Services First to Integrate NPCI's e-KYC Setu System

HDB Financial Services has become the first non-banking financial company to integrate the National Payments Corporation of India's e-KYC Setu system, making the account opening process faster and more secure. This digital innovation eliminates the need for document uploads and branch visits, significantly enhancing customer experience.

Mumbai, Maharashtra, India – HDB Financial Services (HDBFS) has pioneered a significant industry advancement by integrating the National Payments Corporation of India (NPCI)'s e-KYC Setu System. This innovative integration marks a milestone for the non-banking financial company (NBFC) sector, streamlining the account opening procedure.

HDBFS customers can now open loan accounts digitally through a secure OTP-based process, eliminating the need for documents and in-person branch visits. The initiative not only hastens the onboarding process but also ensures a straightforward, hassle-free experience for customers.

Ramesh G, MD & CEO of HDB Financial Services stated, "Innovation is key to improving customer experience, and the e-KYC Setu System exemplifies our commitment to digital transformation." A spokesperson from NPCI emphasized the system's role in broadening financial inclusion across various RBI-regulated entities, praising the collaboration with HDBFS in promoting India's digital economy.

(With inputs from agencies.)