Digilocker Services Expanded To Simplify KYC And ID Verification

Introduction

India’s Finance Minister Nirmala Sitaraman announced the Union Budget 2023-2024, which extends support for the Indian fintech sector. The extended Digilocker platform supports simplified Know Your Customer (KYC) process to enable easy access to individual and business financial services. It provides greater stability to the digital infrastructure as the Indian fintech market is expected to grow to $1.3 trillion by 2025. The Digilocker platform will be a one-stop solution to create a risk-based dynamic KYC process.

Digilocker Initiative Supports Fintech Innovation