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In financial services, client onboarding is more than just form filling — it is the foundation of compliance, trust, and long-term revenue. For franchise partners and channel associates (authorise persons), understanding who provides client onboarding support and how KYC is managed is critical to running a smooth advisory business.
Here’s a detailed breakdown of the onboarding process in financial services under the partner (authorise persons) model.
Client onboarding is the foundation of compliance, trust, and revenue activation in financial services. Since the industry operates under strict regulations set by SEBI, RBI, and other authorities, accurate and complete KYC is essential. Any gaps in documentation or verification can lead to account rejection, transaction delays, regulatory scrutiny, and even revenue blockage.
With the rise of digital KYC verification, including Aadhaar-based eKYC, PAN validation, CKYC integration, and digital IPV; onboarding has become faster and more secure. Efficient customer verification processes reduce errors, speed up activation, and enhance the client experience, allowing partners to focus more on advisory and business growth rather than paperwork.
Under the franchise and partner model supported by IIFL Capital Services Limited, onboarding is a joint responsibility model.
The partner is responsible for:
Partners remain the first point of contact for clients.
The system provides:
This reduces manual intervention and errors.
The central team assists with:
So, onboarding is not left entirely to the partner — it is platform-assisted and compliance-supervised.
KYC support for partners is structured to minimize friction and maximize approval rates.
This digital-first framework ensures faster turnaround compared to traditional physical onboarding.
Even with digital systems, certain challenges are common.
Issue: Minor spelling variations
Resolution: Client updates KYC via official correction process before resubmission
Issue: Client signs differently than PAN records
Resolution: Fresh signature upload or video confirmation
Issue: Incomplete scans
Resolution: Requesting clients to re-upload through platform with clarity guidelines
Issue: IFSC mismatch or cancelled cheque missing
Resolution: Upload verified proof (cancelled cheque / bank statement)
Issue: Missing salary slip or ITR
Resolution: Submit acceptable financial documents as per compliance checklist
The back-office team usually flags issues within a defined timeline, allowing partners to rectify quickly.
In today’s regulated environment, efficient client onboarding is not optional — it is operationally critical. With structured KYC support for partners, automated digital verification, and centralized compliance oversight, the onboarding process in financial services becomes streamlined and scalable.
For franchise partners, this means faster client activation, reduced rejection rates, and a stronger foundation for long-term revenue growth.
Become a Partner & Earn up
to 1 Lakh* per Month!
Client onboarding is a shared model — where the partners initiate the process, platform assist onboarding, and compliance verifies the details.
Typically 24–72 hours if documentation is correct. Delays usually occur due to document mismatch.
The partner receives clarification from the compliance team. Corrections can be made and resubmitted.
Yes, digital KYC verification is now the standard process for faster activation and regulatory alignment.
Partners must:
Generally, communication flows through the partner unless specific regulatory clarification is required.
Become a Partner & Earn up
to 1 Lakh* per Month!
