Videocon Telecom forays into eKYC business, eyes Rs 100 crore in 2 years

The firm has obtained both ASA and AUA licences for the Aadhaar-based digitalisation

Videocon Telecom today said it has entered into eKYC business for Aadhaar-linked services and set a revenue target of up to Rs 100 crore from the segment in the next two years.

"eKYC business is in sync with our existing infrastructure and in line with our goal to expand in segments that are in synergies with our expertise. We see business opportunity in the range of Rs 52-100 crore in next two years," Videocon Telecom CEO Arvind Bali told PTI.

The company has obtained both ASA (authentication service agencies) and AUA (authenticated user agencies) licences for the Aadhaar-based digitalisation.

"Now most of the transactions are being linked to Aadhaar. People need technology to authenticate person seeking services that are linked to Aadhaar. We will provide eKYC solution to help them easily verify people," Bali said.

The company has 60 offices across the country to sell business to business solution. It will leverage workforce at these offices for expansion eKYC business.

"Videocon's eKYC vertical aims to digitise all key sectors namely finance, insurance, hospitality, education etc. It will also help government organisations to have Aadhaar based attendance at highly sensitive places, curb attendance frauds in organisations at remote locations, and will also ensure that schemes like mid-day meals and other subsidies are going to the right beneficiaries," Bali said.

He said the company will deploy eKYC and related solution with theme to make them paperless.

"We can leverage our existing telecom and data centre infrastructure for all the work that we will do unde eKYC," Bali said.