The Fund Transfer APIs enable easy money transfer services between Bank accounts in India. It facilitates ease in the transfer process using technology solutions like NEFT, RTGS and IMPS mode of payments.
This product offers to extend the loan facility to Customers through FinTech applications. It enables automated loan account creation and loan disbursal capabilities. The FinTech applications can readily use to run their services in a fully digitalized and integrated fashion.
The Central Know Your Customer Registry (CKYC) is a government initiative to bring the KYC process of all financial sector entities under a single window.
CKYC is managed by CERSAI (Central Registry for Securitisation Asset Reconstruction and Security Interest of India). It is a centralized repository of KYC documents of customers availing various services of the financial sector. CKYC is created with the intent to reduce the burden of submitting KYC documents for verification when starting a new financial relationship with a new finance company.
A Neo bank is a kind of digital bank or a virtual bank (i.e., Online or Internet-only bank) without any branches. A bank that is entirely online rather than being physical. Neo banking provides complete digital banking experience to its customers through mobile applications.
Neo banks are entities that leverage the banking APIs and pipes to deliver the banking services to their customers from account facilities to fund transfers. This Neo Banking facility will be extensively made available only to potential partners who meet up with the bank's eligibility criteria for partnership.
This product helps the Neo Banks to extend their facilities to open a deposit with Bank for their customers digitally. It ensures customers to have full control of their accounts without visiting the physical bank branch.
Bharat Bill Payment System (BBPS) is an integrated bill payment system functioning under National Payments Corporation of India (NPCI). This is an interoperable bill payment platform through a network of agents of registered members enabling a safe, reliable and unified ecosystem with multiple payments modes and instant payment confirmation. Payments in BBPS can be made through cash, and electronic modes. The NPCI functions as the Central Unit (BBPCU) undertaking clearing and settlement of transactions routed through BBPS.
Bill aggregators and Banks work as Operating Units (COU) to offer an interoperable bill payment system irrespective of which unit has on-boarded a Biller, offering both online and offline – through the network of physical agents – operating models. This ecosystem brings Banks, Non-Banks, and online payment platforms under one roof as authorized units for bill collection, providing anytime-anywhere bill payment facility. BBPS platform includes online and offline interfacing for Billing Entities, Corporates, Agents and Customers.