KYC in Universities
In the last few years, education boards have made KYC in universities mandatory across the country. One of the many reasons is the rapid rise of fake credentials that India continues to experience.
Universities are now vigilant in recording important details such as Aadhar card, student mark sheets, and any other related information to confirm the validity of a student’s achievements and identity.
However, it has also created a lot of strain & stress for administrative departments in universities and their affiliated institutions. Not only will they have to collect the information in an order but also verify each of them for validity.
Considering the number of students that join each year, there is a huge disparity between proper validation of documents and hasty conclusions.
So, here we are compiling a list of expectations around KYC in Universities and how their reality checks give us a different picture. In doing so, we want to help universities realize how they can be easily misled into
1 – Instant verification will be done
Most students & universities assume KYC processes are done instantly. Collect the details now and complete the verification in the next few minutes.
Reality Check: Actually, it takes a lot of time. Right from collecting the details & segregation to the eventual verification, it is a long & tedious process. Yes, there are digital equipment and processes available but even then, it takes a significant amount of time to complete them. Also, for each student, considering at least 5-6 documents are collected from students, some of these documents have to go through a background verification processes through an external agency.
This again takes a lot of time. So, the reality check is that KYC processes take a while to be done.
2 – Streamlined processes are in place
Everything required to complete KYC in Universities is already in place. All they need to do is follow that simple process and everything is done.
Reality check: Well definitely not. Many universities are still trying to figure out the processes for an effective KYC process. Right now, these processes are cumbersome.
For example, Aadhar card verification follows the process of getting a clear copy and then processing it through a verification center which is mostly an external organization. During this process, there are various instances where documents can be lost.
It also leads to internal fraud many times, resulting in ineligible candidates becoming part of the student campuses.
3 – Paper-based & PDF document are secure and easy to manage
Just collect those thousands of documents either in paper-based or pdf formats, stack them up, and complete the verification for each of them. That’s as simple as that.
Reality check: Well, not really. Paper-based records are the most prone to fraud. The same applies to pdf documents. Of course, managing those thousands of documents is not an easy job. It takes forever to stack them up and retrieve them conveniently when required.
4 – Everybody Knows about online KYC process
All students know about online KYC processes so can they can easily login to relevant online portals and complete their KYC in a matter of minutes.
Reality check: Absolutely not! In fact, many people are not aware of online KYC processes. At the same time, there are many states where online KYC in Universities does not exist. So, assuming that students can easily login and complete KYC is unrealistic.
5 – Administration & education process run smoothly
Administration and education processes in universities run parallel and smoothly without any issues.
Reality check: Absolutely not! Administration processes hinder education processes multiple times. It hassles students as well as professors. Because most administrative processes require a lot of time and it can be quite daunting and challenging to most students.
Is there a solution to make these expectations a reality?
Yes, Blockchain-based KYC in universities is the answer for the future and to make these expectations a reality.
You see, blockchain technology is a tamper-proof technology which removes any fraudulent activities and puts the trust back into the system. A decentralized system. At the same records can be easily stored and retrieved from a blockchain.
At TruScholar, we have combined blockchain technology with web & mobile technology to create a solution that makes it easy to complete KYC in universities & institutions in a matter of minutes.
And we do so without hassling universities and students. Students can login through their mobile phones and complete it whereas universities can login in to their desktops and check it. In the meanwhile, we take care of the verification processes. That’s how simple it is.
It is important for the current education system to embrace digital frameworks to make their processes hassle-free. TruScholar makes this transition easy. Let’s connect today and we will show you how it all works in reality.