How KFin Tech’s blockchain-backed platform streamlines KYC processes

Hyderabad-based financial services company KFin Technologies Limited recently announced the launch of KFIN KRA, a new KYC Registration Agency (KRA) operating through its subsidiary, KFin Services Private Limited.

The new platform offers integrated KYC services, including registration, modification, and document download. That said, the platform will support both digital and physical KYC processing and provide real-time SMS and email updates to users.

In an interview with TechCircle, Krishna Kishore Chukkapalli, MD & CEO of KFin Services Pvt. Ltd, explains that the KFIN KRA employs blockchain infrastructure and Artificial Intelligence (AI)-based verification to speed up authentication, enhance security, and offer a unified digital experience.

“KFIN KRA distinguishes itself through a cloud-native, API-first architecture; embedded AI/ML (Machine Learning) for fraud detection and anomaly analysis. It will use Digi-locker and eAadhaar for authentication and integrate with the Central KYC Records Registry (CKYCR),” he says.

The parent entity KFin Technologies provides financial services platforms for mutual funds, alternative investment funds, wealth managers, pension funds, and corporate issuers in India and several international markets. So firms working in these areas are expected to benefit most immediately. Several marquee institutions have already expressed strong interest in integrating with KFIN KRA, said Chukkapalli.

On how the new solution works, Chukkapalli mentioned that KFIN KRA addresses inefficiencies in KYC and investor onboarding by delivering a zero-friction KYC model. Moreover, the validated blockchain components ensure tamper-evident audit trails and immutable data records.

“Institutions gain access to a real-time dashboard for tracking KYC submissions, rejections, and remediation. Accelerated access to unsolicited feed files and automated validations enhance efficiency, transparency, and responsiveness,” he explained.

“We will continue to play a key role in shaping India’s digital compliance infrastructure, building an intelligent, interoperable ecosystem for KYC, anti-money laundering, Foreign Account Tax Compliance Act (FATCA), and other compliance functions for financial innovation,” mentioned Chukkapalli.

Plans are in place to extend KFIN KRA to cross-border use cases, evolving it into a universal identity management solution that transcends geography, business verticals, and regulatory boundaries, he sums up.