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Digilocker Outage Disrupts Customer Onboarding at Stockbrokers

share-iconFriday, January 03 comment-icon4 weeks ago 7 views
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indiatimesINDIATIMES
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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