KYCKART Marks Five Years as Government Funded and Licensed Verification Infrastructure for Indian BFSI

Five years ago, verifying a loan applicant’s identity in India often meant dispatching a field agent. Onboarding a new insurance customer took three to five working days. A collections team working a delinquent portfolio had no reliable way to confirm whether the provided details in the customer’s file still reached the right person. These were not edge cases, they were the daily operating reality of Indian BFSI, persisting not from a lack of urgency but from the absence of integrated, source-authenticated infrastructure to resolve them at scale.

KYCKART was incorporated in June 2021 to build precisely that infrastructure, co-founded by Lokesh Chaudhary (CEO) and Anshu Singh (CTO), who together brought more than 25 years of combined domain expertise to a problem the industry had long accepted as a cost of doing business. Today, the company is a leading RegTech provider serving banks, NBFCs, insurers and fintechs through a unified platform spanning Digital Onboarding, Fraud Intelligence and Collections Intelligence — all delivered through a single API integration built upon reliable sources in real time.

A Foundation Built for Regulated Environments

KYCKART entered the market with a deliberate choice: build for compliance-grade deployment from day one, rather than retrofitting it after early growth. Within months of incorporation, the company achieved ISO 9001 and ISO 27001 certifications. By October 2021, Reliance General Insurance had signed on as its first major insurance client; one month later, ICICI Bank followed as its first banking client. These relationships were not won on price. They were built on the conviction that real-time verification against primary government sources, with complete, timestamped audit trails, was the standard regulated institutions required, and that no shortcut would survive a compliance examination.

Five Years of Consistent Growth

From that foundation, KYCKART’s ARR grew with disciplined consistency, reaching USD 1 million annually by January 2025. In November 2025, the company received its Data Service Provider (DSP) license from the Reserve Bank of India’s Innovation Hub (RBIH). Aadhaar Offline Verification Seeking Entity (OVSE) and Unified Logistics Interface Platform (ULIP) licenses followed in April 2026, and the company was certified a Great Place to Work in February 2026. Today, KYCKART serves 250+ clients across industry segments, with API infrastructure engineered for scale and 99.9% platform uptime.

“When we started KYCKART, the verification problem in Indian BFSI was being treated as a cost of doing business, something you managed around, not something you solved,” said Lokesh Chaudhary, Co-founder and CEO. “We believed then, and the market has confirmed, that these were not process inefficiencies. They were infrastructure gaps. Five years on, that belief has been validated by the clients who built on us and the licenses that authorise us to expand further. We are not celebrating five years of survival; we are beginning the five years in which the infrastructure we built becomes the standard.”

Anshu Singh, Co-founder and CTO, added: “What changed between 2020 and 2021 was that the building blocks — face match, Video KYC, OCR, Aadhaar-based authentication finally existed at a quality that made real-time onboarding possible. What didn’t exist was a platform that unified them intelligently for BFSI compliance workflows.  We built to that standard from the start. The next phase, continuous portfolio intelligence, AI-assisted fraud detection and deeper financial data integration, is where that foundation pays forward.”

Why the Problem Is Larger Today

The founding thesis has not aged, it has compounded. India’s digital lending market has grown at over 30% CAGR since 2021. The Account Aggregator framework, the Digital Personal Data Protection (DPDP) Act, and the rapid expansion of formal credit into Tier 2 and Tier 3 India have together created a verification requirement that is orders of magnitude larger than when KYCKART was founded. At the same time, financial fraud has professionalised: synthetic identity fraud, coordinated application rings and AI-assisted document forgery have outpaced the document-only checks most institutions relied on at the start of the decade. The infrastructure KYCKART was built to provide is no longer a competitive advantage for the institutions that use it, it is a baseline requirement for operating responsibly at scale.

What Comes Next

KYCKART enters its second half-decade with licensed capabilities that extend the platform into areas that were nascent in 2021. The RBIH DSP license enables deeper integration with India’s BFSI ecosystem, while the Aadhaar OVSE and ULIP licenses position the company to serve vehicle-finance recovery and logistics-linked BFSI workflows at scale. The near-term roadmap focuses on continuous portfolio monitoring for fraud-signal intelligence across active books, deeper pre-delinquency intervention within Collections Intelligence, and expanded reach into the insurance and fintech segments. Hiring across engineering, fraud analytics and client success is underway to support this next phase. Throughout, KYCKART is building in compliance with the Digital Personal Data Protection Act 2023 and its 2025 Rules, keeping privacy and security at the core of how it builds trust.

About KYCKART

KYCKART is India’s integrated digital verification and fraud analytics platform for BFSI organisations, covering Digital Onboarding, Fraud Intelligence and Collections Intelligence  The company is backed by the Startup India Seed Fund Scheme (SISFS), Government of India (2022). The platform is ISO 9001 and ISO 27001 certified; an RBIH Data Service Provider, Aadhaar OVSE and ULIP licensee; and a certified Great Place to Work. KYCKART serves 250+ clients with 99.9% platform uptime and dedicated relationship management for every account.

www.kyckart.com

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