November 21, 2018

The Aadhaar Verdict – Learnings and Takeaways for Indian FinTechs

Aadhaar, the biometric digital identity infrastructure in India, has been making waves in the international community for years now. Through governmental push, the Aadhaar number has progressed to become the unique identifier of an individual’s identity in India. This, when tied up with a plethora of use cases in business, financial inclusion, and governmental benefits space, presented a strong case for Aadhaar to be the primary enabler of disruption in the Indian business as well as the social landscape. With the biometric database, the traditional business ecosystem suddenly found a new way to onboard customers through eKYC. Select banks, telcos, etc., used Aadhaar for instant onboarding. In fact, there have been many new startups, mostly in FinTech space, which have designed their unique value proposition around instant onboarding. The instant onboarding using just the Aadhaar number as an identifier had immense potential in not just reducing the operational costs of…

Leave a Reply

Your email address will not be published. Required fields are marked *