This is the second consecutive month to register more than 10 million face authentication transactions. The number of face authentication transactions has been rising and the monthly numbers clocked in May is an increase of 38 per cent, compared to such transactions reported in January 2023, indicating its growing usage.
The month of May also saw the Unique Identification Authority of India (UIDAI) executing 14.86 million Aadhaar updates following request from residents
Aadhaar e-KYC service continues to play a key role in the banking and non-banking financial services sectors by providing transparent and improved customer experience and helping in ease of doing business. More than 254 million e-KYC transactions were carried out in May alone, official sources said.
By the end May 2023, the cumulative number of Aadhaar e-KYC transactions had gone past 15.2 billion. Continued adoption of e-KYC is significantly reducing customer acquisition cost of entities like financial institutions, telecom service providers among others.
The face authentication solution developed in-house by the UIDAI, is now being used by 47 entities, including state government departments, ministries in the central government and some banks.
It’s being used for registering beneficiaries under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, for authentication of beneficiaries in the PM Kisan scheme and for generating digital life certificates at home by pensioners.
–IANS
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