KYC Update – LALA World!

By January 12, 2018LaLa World
KYC Update
Dear Community members,
We Have an Important Announcement for you!
We could not be more humbled by the love and trust shown by the community. We’re incredibly grateful for this network we have and for all the support we received during this journey.
Important Updates :
➢ KYC Update – We are bringing an essential change in the KYC process and would request everybody to update theirs.
Q – What is KYC?
A KYC stands for “know your customer”. For any financial services, it is important for the company to know, who they are dealing with. It is a mandatory requirement.
Q – What all documents are acceptable?
A PFB the list of accepted documents in JPG, JPEG or PNG format (size less than 1 MB). No other document will be accepted besides the one listed below:
• NRIC – National Registration Identity Card
• FIN – Foreign Identification Number
• Employment Pass
• Work Permit
• S Pass
• Dependent Pass
• Passport
• Foreign Identity Card
• Driving License
• Student Pass
• Visitor Pass
Q – What happens to our previously submitted documents?
A Previously submitted documents will be discarded.
Q – Why is this new process being implemented?
A – As it will speed up the KYC process. KYC for us will be conducted by Artemis (Cynopsis solutions – an expert in KYC) over API. We have recently concluded our API integration with them. The process flow requires the information in a specific way and hence the KYC update is required.
Q – What happens if my KYC is rejected?
A – A refund would be processed.
Q – What all kind of pictures is acceptable for a selfie?
A – Scanned passport size photograph or a selfie in JPEG, JPG or PNG format (Size less than 1 MB)
Q – How long does it take to complete the KYC process after submission of documents?
A – The document once uploaded are instantly “Completed” or declared as “Pending”. Those in “Pending” status would be cleared within 24-48 business hours. Appropriate communication would be shared to resolve the pending cases.
Q – What if the document does not have an issue date or an expiry date?
A Please use Issue date as “5-Jan-2018” and Expiry date as “10-Feb-2018” only in the case where these are not mentioned in your document. 
 
This is your project and you made it all happen. We here at LALA World applaud for each one of you! Thank You so much!

Leave a Reply