U2opia Mobile’s Aadhaar Verification Service (AVS on USSD) can help banks, insurers, non-banking financial companies (NBFCs) and other utility companies to do electronic know-your-customer (KYC) verifications quickly and easily, without making customers visit the bank or stand in queues. This might be a quick solution for customers who have been postponing Aadhaar linking due to lack of time.
According to the report, to link their Aadhaar and bank account, the user will have to dial an unstructured supplementary service data (USSD) short code from their Registered Mobile Number, then type their Aadhaar number and they will get verified instantly. The simple three screen verification process will remove the need for OTP verification or paper-based verification for KYC. U2opia Mobile’s AVS works well on all mobile handsets as USSD is a basic 2G/3G mobile feature.
No fingerprint verification needed
The company clarified to EFY that there is no fingerprint verification. “The whole idea of taking Aadhaar Verification for Banks, Insurance companies and others utility companies on USSD is to avoid need for physical presence. For finger print verification, it will require physical infrastructure. By using USSD, the subscriber sitting in any remote area can do the verification easily using their mobile phone,” says the spokesperson.
Connected to Aadhaar Database
U2opia Mobile’s service is connected to the Aadhaar database. Users have to dial a USSD short code from their Registered Mobile number. “We don’t ask users their mobile number so no need for OTP verification as we know dialer’s number from operator. The details are checked and the status is provided in real time,” clarifies the spokesperson.
The whole idea of doing this on USSD is simplicity for all stakeholders:
- Banks / Insurance Companies – No additional infrastructure cost, everything is done through USSD
- Consumer – They don’t have to visit the bank / insurance companies. They can do it at their convenience. It is a simple, three-step process.