Identity checks & correctness of bank account using penny drop procedure
By: Balachander, D. M
.
Publisher: Kolkata CMA Kaushik Banerjee 2022Edition: Vol.57(11), Nov.Description: 77-78p.Subject(s): Construction Engineering and Management (CEM)Online resources: Click here
In:
Management and accountant journalSummary: Accuracy in identity of the person, his contact details, bank account are most essential data in any establishment to conduct any operations. These data must be collected and validated before on-boarding stage with requisite support evidence and must be maintained in the accounting system. In this fintech world there are many advancement in process to verify the correctness of the identity of the person and his bank account without major effort and time. Since the verification is done through the system there is no paper work and subsequent workflow can be smooth and reliable. Verification of identity of the persons bank account in penny drop mechanism is discussed in this write-up.
| Item type | Current location | Call number | Status | Date due | Barcode | Item holds |
|---|---|---|---|---|---|---|
Articles Abstract Database
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School of Engineering & Technology (PG) Archieval Section | Not for loan | 2023-1479 |
Accuracy in identity of the person, his contact details, bank account are most essential data in any establishment to conduct any operations. These data must be collected and validated before on-boarding stage with requisite support evidence and must be maintained in the accounting system. In this fintech world there are many advancement in process to verify the correctness of the identity of the person and his bank account without major effort and time. Since the verification is done through the system there is no paper work and subsequent workflow can be smooth and reliable. Verification of identity of the persons bank account in penny drop mechanism is discussed in this write-up.
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