Quantum Mutual Fund launches eKYC, no paperwork or physical appearance

MUMBAI: Truly online KYC: Just one simple form, absolutely no paperwork or physical appearance.

Completing KYC formalities is a major hurdle in getting investors into mutual funds, claim distributors. Quantum Mutual Fund has launched eKYC, where the fund house will allow first time investors to fill up a simple form and complete their KYC formalities, in a totally paperless manner, without the need of physical submission of any form / document proofs or physical appearance.

Quantum Mutual fund has always believed in leading the way, when it comes to using technology to making the lives of our investors simpler and making their interaction with us as seamless and comfortable as possible. The new eKYC process is no exception, as we allow investors to become KYC compliant by filling up a simple form and completing their IPV, in a totally online and completely paperless manner.

The four step process is as follows:

1. Investor visits www.ekyc.quantumamc.com 2. Submits Name, Mobile number and Email id 3. Fills the standard KYC form; provides PAN, bank details 4. eIPV to be subsequently done

The investor's details will be verified by Quantum through independent sources. The last leg of the transaction - IPV or 'In Person Verification' will also be done from the comfort of the investors' home/office, through a camera - but during Quantum office hours only. Once the eIPV is done successfully, KYC formalities are over and the KRA (KYC Registration Agency) will process the documents and the investor can make the investment.

"While we wait for the Supreme Court verdict on the use of Aadhar cards for validation of data, we have created a process that does not rely on Aadhar. It's not mandatory to give us the Aadhar number at all, though it will be good to do so, for future references, "says Jimmy Patel, CEO, Quantum Mutual Fund.