Case Study: L&T Finance streamlines CKYC processing with Crown Records Management

L&T Finance clears 40,000 CKYC IDs with Crown Records Management

L&T Finance, a leading NBFC in India, faced significant regulatory challenges with a massive backlog of 40 lakh CKYC documents. Their existing vendors lacked efficiency and visibility, leading to potential penalties from the Reserve Bank of India. Crown Records Management proposed its automated CKYC solution to address these compliance and processing issues.

Crown Records Management implemented an automated, secure process involving scanning, data entry, quality checks, and secure SFTP uploads to the CERSAI registry. This solution drastically reduced turnaround time, saved on operational costs, and ensured full regulatory compliance. As a result, L&T Finance successfully cleared the RBI observation and processed all documents within the regulator's deadlines.

L&T Finance