What is Monocept?
Monocept identifies and solves the unknown variable ‘X’, enabling enterprises to address their complex business problems using technology. We envision a problem-free world by solving all technical issues that our clients are susceptible towards or are facing currently.
We are Microsoft Gold Partner in Cloud Platform and Application Development competencies.
Why is Aadhaar Masking mandatory for Enterprises in BFSI?
On 29th May 2019, the Reserve Bank of India updated the master direction on KYC guidelines for regulated entities. One such update makes it mandatory for RBI Regulated Entities to mask or blackout the Aadhaar number of all customers from the Aadhaar image as part of the KYC process.
RBI KYC Master Directions: https://bit.ly/2K5hDy3
The IRDAI Circular dated 29th Jan 2019 for allowing Aadhaar Card as one of the acceptable documents for KYC- under certain conditions: insurers should ensure that the first 8 digits of the Aadhaar number are properly/appropriately masked.
IRDAI Circular: https://bit.ly/2mmj2p7
What is Masked Aadhaar?
Masked Aadhaar is similar to a regular Aadhaar with a difference that the Aadhaar number is partially hidden/masked/blacked-out and only last 4 digits of the Aadhaar number are visible.
Be Compliant with Regulations
Monocept Redact - Aadhaar Masking Solution, is a cloud-based SaaS solution designed to address the regulations set by IRDAI and RBI.
It extracts information from images of Aadhaar card using OCR, processes the same and allows you to mask the first 8 or all 12 digits of the Aadhaar number within seconds from the documents submitted by your customers in real time as well as legacy records stored in client’s repository.
The solution integrates with the client applications via a set of secure APIs, provides a windows utility for bulk uploads and a dashboard for the analytics without storing any data.
It uses Computer Vision APIs for image processing, optical character recognition and redacting the Aadhaar numbers in the image. It accepts Aadhaar image in various PDF, image formats, resolution, DPI, shape and style.
Thus, Monocept Redact allows you to save time and effort and become regulatory compliant without compromising on the privacy of your end-users.
A quick video of the solution can be seen on this link - https://monoceptcorpv365storage.blob.core.windows.net/embedvideo/963a20c7-897d35ba.html