KYCKART Marks Five Years as a Government-Licensed Verification Platform for Indian BFSI

A foundation built for compliance from day one

KYCKART was incorporated in June 2021 by Lokesh Chaudhary (CEO) and Anshu Singh (CTO), who together brought over 25 years of domain expertise to a problem Indian BFSI had long accepted as a cost of doing business: slow, fragmented, field-agent-dependent verification. 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 insurance client; one month later, ICICI Bank followed as its first banking client — relationships built not on price, but on compliance-grade source authentication with complete, timestamped audit trails.

Five years of consistent growth

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) licence from the RBI Innovation Hub — a landmark authorisation for a startup operating in regulated financial infrastructure. Aadhaar Offline Verification Seeking Entity (OVSE) and ULIP licences followed in April 2026. The platform now serves 250+ clients across banking, insurance, and fintech with 99.9% uptime, backed by the Startup India Seed Fund Scheme (SISFS) from the Government of India.

"We are not celebrating five years of survival; we are beginning the five years in which the infrastructure we built becomes the standard."

Lokesh Chaudhary, Co-founder & CEO, KYCKART

Why the problem is larger today

India's digital lending market has grown at over 30% CAGR since 2021. The Account Aggregator framework, the Digital Personal Data Protection Act, and rapid credit expansion into Tier 2 and Tier 3 India have together created a verification requirement orders of magnitude larger than when KYCKART was founded. Financial fraud has also professionalised — synthetic identity fraud, coordinated application rings, and AI-assisted document forgery have outpaced document-only checks. Verification infrastructure is no longer a competitive advantage for the institutions that use it; it is a baseline requirement for operating responsibly at scale.

"The next phase — continuous portfolio intelligence, AI-assisted fraud detection and deeper financial data integration — is where that foundation pays forward."

Anshu Singh, Co-founder & CTO, KYCKART

What comes next

KYCKART enters its second half-decade with licensed capabilities that extend the platform into areas nascent in 2021. The RBIH DSP licence enables deeper BFSI ecosystem integration; the Aadhaar OVSE and ULIP licences position the company for vehicle-finance recovery and logistics-linked BFSI workflows at scale. The near-term roadmap covers continuous portfolio monitoring for fraud-signal intelligence, deeper pre-delinquency intervention within Collections Intelligence, and expanded reach into insurance and fintech — all built in compliance with the Digital Personal Data Protection Act 2023 and its 2025 Rules.