Originally published at finovo.tech/blog/video-kyc-without-original-pan-card — the canonical version has the latest updates.

How to navigate video kyc without original PAN card

Picture this: you're onboarding a new client through video KYC, a process you thought would be as seamless as ever. But suddenly, you hit a snag—the client doesn't have their original PAN card on hand. This situation is more common than you'd expect in Mumbai, Delhi, and other metro cities where rapid digital transactions have become the norm.

Understanding the challenge

The challenge of conducting video KYC without an original PAN card can be daunting. Regulatory guidelines from SEBI and RBI emphasize the need for identity verification, often through a document like the PAN card. The PAN card serves as a universal identity proof and plays a critical role in various financial transactions. However, the scenario where clients don't have the physical card during digital onboarding is increasingly frequent.

Regulatory perspective

Knowing the rules helps. As of recent RBI guidelines, video KYC requires identity verification for compliance. But what's crucial is that the regulations don't necessarily mandate the physical presence of the PAN card. Alternatives like e-PAN or electronic versions authenticated via Aadhaar can substitute. Understanding these flexibilities can save compliance officers in Bangalore and Chennai considerable hassle. The government has been pushing digital documents in recent years, recognizing the shift towards digital with the centralization of data like c-KYC.

Solutions without the original PAN card

• Leverage e-PAN, Aadhaar OTP: The Income Tax Department's e-PAN can be an acceptable substitute for the original PAN card. Incorporating Aadhaar OTP authentication as part of our enterprise build for video KYC can ensure compliance is maintained while keeping the process seamless.
• Digital signature via eSign: E-Signing using Aadhaar can serve as additional identity verification. This is particularly useful when the physical PAN card isn’t available but PAN details are needed.
• Video call audits: Use live video verification solutions to cross-verify identity based on previously uploaded digital versions. For example, your ops team in Kolkata can implement a pre-call audit of the submitted documents to preemptively resolve any discrepancies.

Overcoming objections

The obvious objection: aren't we flouting compliance by skipping the physical PAN? Not really. By integrating tech-savvy alternatives like WhatsApp eKYC and Aadhaar-based processes, you're remaining within legal boundaries while making the service accessible and less cumbersome for your clients.

If any of this hits a nerve, drop us a note — first call's just a conversation.

— the finovo team