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Comply with RBI’s new KFS rules with Leegality
Collect Borrower Acknowledgement: Use Leegality to collect RBI-complaint borrower acknowledgement digitally on the KFS
KFS flows in Local Language: Use Leegality Local Languages to deliver the entire eSign journey in a local Indian language - as per RBI rules
Auditable and Retrievable KFS: Ensure your digital KFS is stored automatically in your LOS/LMS along with secure audit trail
Lenders need to comply with 4 key requirements as per RBI’s new KFS instructions:
1
Lenders will need to change their KFS format to RBI’s new format under Annexure A
2
The KFS will need to be delivered in a “language that the borrower understands.” English won’t be enough
3
Lenders need to collect borrower acknowledgements on the KFS. These acknowledgements need to be secure and auditable. You can’t get the loan document signed unless you execute the KFS
4
The KFS is now the single source of truth for the loan. A KFS summary will now need to be inserted in the loan agreement.
Here’s how you can comply with these requirements
Digitally generate KFS as per RBI format
Create and save a local language template of your KFS on Leegality in less than a day
Pre-fill KFS fields straight from your LOS/LMS via API or Excel
Send KFS to borrower digitally
Ensure the borrower receives the KFS digitally in 4 ways:
Whatsapp (least drop offs)
SMS
Email
In your website/app via our SDKs
Collect borrower acknowledgement and consent on the KFS
RBI requires an auditable borrower acknowledgement on the KFS. With Leegality you can do this in the following ways:
Aadhaar eSign via OTP, Biometric, Face or IRIS
Secure, OTP-based Virtual Sign
Quick OTP-less digital acknowledgement
Prevent fraud and bolster enforceability
Aadhaar Verifier to prevent borrowers from using someone else’s Aadhaar to eSign
Face Match to verify signer identity
Geo-location to ensure KFS is eSigned in the correct place
Multi-factor authentication for additional security
Customize the signer experience to avoid drop offs
Customize brand colour and logo throughout the eSign interface
Customize eSign invitation content and consent language
Deliver the entire KFS eSign interface in 11 Local Indian Languages
Easily manage KFS documents internally
Automatically affix authorized signatory signs via DocSigner or Automated Sign
Signed KFS automatically sent to your LOS/LMS
Get a Secure Audit Trail with each KFS
Digitally generate KFS as per RBI format
Create and save a local language template of your KFS on Leegality in less than a day
Pre-fill KFS fields straight from your LOS/LMS via API or Excel
Send KFS to borrower digitally
Ensure the borrower receives the KFS digitally in 4 ways:
Whatsapp (least drop offs)
SMS
Email
In your website/app via our SDKs
Collect borrower acknowledgement and consent on the KFS
RBI requires an auditable borrower acknowledgement on the KFS. With Leegality you can do this in the following ways:
Aadhaar eSign via OTP, Biometric, Face or IRIS
Secure, OTP-based Virtual Sign
Quick OTP-less digital acknowledgement
Prevent fraud and bolster enforceability
Aadhaar Verifier to prevent borrowers from using someone else’s Aadhaar to eSign
Face Match to verify signer identity
Geo-location to ensure KFS is eSigned in the correct place
Multi-factor authentication for additional security
Customize the signer experience to avoid drop offs
Customize brand colour and logo throughout the eSign interface
Customize eSign invitation content and consent language
Deliver the entire KFS eSign interface in 11 Local Indian Languages
Easily manage KFS documents internally
Automatically affix authorized signatory signs via DocSigner or Automated Sign
Signed KFS automatically sent to your LOS/LMS
Get a Secure Audit Trail with each KFS
Want to read more about what the KFS requirements are?
Read our complete guide to the new RBI KFS requirements
Interested in seeing a live demo of digital KFS via Leegality?
Fill in this form
We’ll show you a live demo of digital KFS via Leegality
We’ll also give you a free testing account at the end of the demo
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