KFin Technologies Limited and Dezerv Investments Private Limited have introduced a new approach to the onboarding process for portfolio management clients in India.
The novel process is entirely digital and smooth, eliminating the need for physical documentation and minimizing human intervention. This collaboration aims to revolutionize the client onboarding process in India.
PMS onboarding is now made easier, safer and quicker with advanced technologies like AI, Geo-Fencing, Data Capturing, etc..
The new Process of Onboarding a client in PMS account opening, custody account opening and POA process are going to be seamless. Client can be onboarded with assistance digital journey from the relationship manager and it takes to complete the client onboarding process in less than 10 minutes.
The change has had a major impact on the client onboarding process for financial or legal agreements. Specifically, the need for physical signatures for both the PMS agreement and POA documentation has been eliminated. As a result, the time required to onboard clients has been significantly reduced from 3 to 4 days down to less than 20 minutes. In addition, this change has resulted in a significant cost savings of around INR 1,500 per application. This translates into substantial savings for companies.