KYC or “Know Your Customer” is a process to be undertaken by businesses especially financial institutions to obtain information about the identity and address of the customers. One of the key documents is bank account details as the same is regarded as valid proof of the identity of a person/entity.
While onboarding vendors, delivery partners, or even employees, an organisation needs to do a bank account verification. Using Cashfree Payments API, this process can be automated by integrating with the company's existing internal system so that the bank verification process happens smoothly, without exposing the data to any third party. You can also verify PAN, Aadhaar and GSTIN of users or businesses with our Verification Suite