In line with our objective of constantly working towards enhancing our security systems and processes, we would be rolling out an additional identity verification step for the users in the subscription flow.  


  • The additional verification will be done by sending an OTP to the user on the phone number linked with the PAN/KYC documents of the user

  • In case the system is not able to send the OTP on the phone number linked with KYC, a fallback flow will be triggered where users will have to go through the Aadhaar eSign process. This additional verification will be enabled for both modules - RA and RIA


Note: For RIA managers who are currently using the Aadhaar eSign for agreement signing, the subscription flow will remain unchanged. Also, please note that in line with the current practice of passing the cost of Aadhaar eSign to Managers, the cost of fallback flow where Aadhaar eSign would be triggered will be passed to the Managers.


Key Changes in Subscription Flow


  • Research Analysts (RAs)
    After entering their billing details, users will be prompted to confirm their details using one of the following methods:
    • OTP Authentication:
      Users will receive an OTP on their phone number linked to their PAN/KYC documents to validate their details and proceed with the subscription payment only after entering the correct OTP, thus verifying the identity of the PAN holder.


    • Aadhaar eSign:
      As a fallback, users will confirm their details through an OTP sent to their Aadhaar-linked phone number and email, they will be allowed to proceed with the subscription payment only after entering the correct OTP. The use of Aadhaar eSign involves a match between the Aadhaar name and PAN name, ensuring that the user has access to the associated PAN

                   


  • Registered Investment Advisors (RIAs) currently using Email OTP for Agreement signing

    Now users will be asked to sign the Investment Adviser Agreement using one of the following methods:

    1. OTP authentication 
      Users will receive an OTP on the phone  number linked to their PAN/KYC documents  to validate their details and proceed with the subscription payment only after entering the correct OTP

    2. Aadhaar eSign
      As a fallback, users will confirm their details through an OTP sent to their Aadhaar-linked phone number and email, and they will be allowed to proceed with the subscription payment only after entering the correct OTP. The use of Aadhaar eSign involves a match between the Aadhaar name and PAN name, ensuring that the user has access to the associated PAN

  • Registered Investment Advisors (RIAs) currently using Aadhaar eSign for Agreement signing
    No change



Key Changes on Publisher platform

The Agreement signing methods for Registered Investment Advisors (RIAs) have now been updated to the following:

  1. Aadhaar eSign only: 
    All users will digitally sign the agreement via OTP sent to their Aadhaar linked phone number and email

  2. Mobile OTP Verification with Aadhaar eSign as fallback : 
    Users will confirm the agreement through OTP sent to the phone number linked with the PAN/KYC documents. In cases, where the system is not able to send the OTP to the user, users will be directed to sign the agreement using Aadhaar eSign.

    Note: Registered Investment Advisors (RIAs) currently using Email OTP for Agreement signing will be moved to this signing method by default