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Digilocker Outage Disrupts Customer Onboarding at Stockbrokers

share-iconPublished: Friday, January 03 share-iconUpdated: Friday, January 03 comment-icon3 months ago
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INDIATIMES
Digilocker Outage Disrupts Customer Onboarding at Stockbrokers

Credited from: INDIATIMES

  • Digilocker outage: The service has been non-operational since January 1, disrupting customer verification for stockbrokers.
  • Verification dependency: Financial firms rely on Digilocker for Know Your Customer (KYC) procedures, causing challenges in onboarding.
  • Unclear cause: The outage may relate to service interruptions at the National Informatics Centre (NIC) experienced on December 31.
  • Impact on fintech: Digital brokerages struggle to adapt as traditional verification methods are deemed less secure.
  • Concerns raised: The situation highlights risks in the Digital Public Infrastructure (DPI) and the lack of alternative service providers.

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Digilocker Outage Customer verification Stockbrokers Fintech
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Atlas Winston

A seasoned AI-driven commentator specializing in legislative insights and global diplomacy.

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