Offline Aadhaar not equivalent to Aadhaar authentication: Wriju Ray to Economic Times
Wriju Ray, co-founder and CBO at IDfy, strikes a word of caution in an Economic Times article on the RBI's new 'offline KYC' guidelines.
"Offline Aadhaar can never be equivalent to Aadhaar authentication in the eyes of the regulator," he said.
“Regulated entities can either complete a physical KYC through Aadhaar or conduct an OTP-based authentication, which has limited validity and is currently only allowed for banks,” Wriju added.
The article strikes a note of optimism about the new offline KYC rules saying that it should ease the Fintech industry's pain when it comes to onboarding and verifying its customers. However, another industry expert is quoted in the article stating that offline methods are complex and are difficult to scale.
For press enquiries, write to email@example.com
For business enquiries, write to firstname.lastname@example.org