BUSINESS REQUREMENT

DOCUMENT FOR FIN SOL

PRIVATE LIMITED
Table of Contents
Sign Offs.......................................................................................................................................................................... 2
1. RACI Chart for This Document..............................................................................................................................2
Codes Used in RACI Chart......................................................................................................................................2
RACI Chart..............................................................................................................................................................2
2. Introduction...........................................................................................................................................................3
2.1. Business Goals................................................................................................................................................3
2.2. Business Objectives.......................................................................................................................................3
2.3. Business Rules................................................................................................................................................3
2.4. Project Objective............................................................................................................................................3
2.5. Project Scope..................................................................................................................................................4
2.5.1. In Scope Functionality...........................................................................................................................4
2.5.2. Out Scope Functionality.........................................................................................................................4
3. Assumptions...........................................................................................................................................................4
4. Constraints.............................................................................................................................................................4
5. Risks....................................................................................................................................................................... 4
5.1. Technological Risks.......................................................................................................................................4
5.2. Skills Risks......................................................................................................................................................4
5.3. Political Risks.................................................................................................................................................4
5.4. Business Risks................................................................................................................................................4
5.5. Requirements Risks.......................................................................................................................................4
5.6. Other Risks.....................................................................................................................................................4
6. Business Process Overview...................................................................................................................................5
6.1. Current System (AS-IS)..................................................................................................................................5
6.2. Proposed Recommendations (TO-BE)..........................................................................................................6
7. Business Requirements.........................................................................................................................................7
8. Appendices.............................................................................................................................................................7
8.1. List of Acronyms............................................................................................................................................7
8.2. Glossary of Terms..........................................................................................................................................7

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Sign Offs
Role Name Title Signature Date
Project Sponsor CMS Owner
Business Owner CMS Owner
Project Manager Project Manager
System Architect System Architect
Development Lead Dev Lead
User Experience Lead UE lead
Quality Lead QA Lead
Content Lead Admin

1. RACI Chart for This Document

The RACI chart identifies the persons who need to be contacted whenever changes are made to this document.
RACI stands for responsible, accountable, consulted, and informed. These are the main codes that appear in a
RACI chart, used here to describe the roles played by team members and stakeholders in the production of the
BRD. They are adapted from charts used to assign roles and responsibilities during a project.
The following describes the full list of codes used in the table:

Codes Used in RACI Chart

* Authorize Has ultimate signing authority for any changes to the document.
R Responsible Responsible for creating this document.
A Accountable Accountable for accuracy of this document
(for example, the project manager)
S Supports Provides supporting services in the production of this document
C Consulted Provides input (such as an interviewee).
I Informed Must be informed of any changes.

RACI Chart
Name Position * R A S C I
Project Sponsor *
Business Owner *
Project Manager * *
System Architect *
Development *
manager
BA *
User experience * *
lead
Admin *

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 2. Introduction
Fin Sol Pvt. Ltd. Is Indian based financial lending organization/credit platform serving the financial needs of
salaried & self-employed individuals. They offer quick finance to their clients/members who are registered
through their official channel. It is a platform facilitating the loan transactions between the borrowers and the
NBFCs/Banks. All loan applications are approved and sanctioned by NBFCs/Banks registered with RBI and
communicated upfront during Loan application. Fin Sol wants to expand their reach to consumer and make
registration process hassle free with help of IT solution, hence board member wants to introduce the online
VKYC process for their new consumers.
Know Your Customer” or KYC refers to the process of authenticating the identity of the customers and clients
either before or during the start of the business relationship. KYC came into existence in 2002 in India.
According to the Reserve Bank of India (RBI) notification it has made it mandatory for all banks to carry out
KYC of customers since 2004. In terms of the provisions of Prevention of Money-Laundering Act, 2002 as
notified by the Government of India, Regulated Entities (REs) are required to follow certain customer
identification procedures while undertaking a transaction either by establishing an account-based relationship
or otherwise and monitor their transactions. Though the banking and financial sectors (BFSI) were the first-
responders to the mandate, the need for conducting KYC is widespread now and covers other industries such
as mutual funds, NBFCs, lending companies, e-wallets.
The recent amendment in The Prevention of Money Laundering (PMLA) Act 2002 by the Ministry of Finance
allows several modes of capturing details of customers electronically. The notification states that the
government should bring in, Video KYC to capture customer details electronically. Subsequently, RBI has
legitimized the Video-Based Customer Identification Process (VCIP) as a means to verify customers, allowing
onboarding via video KYC authentication.

1.1. Business Goals

1) Retain current Customers with complying policies referred by RBI.
2) Attract More Potential Customers for Businesses.
3) Preservation from potential fraud of duplicate accounts.
4) Digital & paper-free KYC verification

1.2. Business Objectives

FIN SOL Pvt. Ltd. seeks to implementing a secure, flexible, scalable solution that gathers the data of the
consumer documents used for verification process. Connect B2C with video call and capture the images of the
document shown by the customer in call. Once the data has been gathered from video call identify the face and
letter available in captured image and save it to the data base in encryption.

1.3. Business Rules

1) Get clear Picture of document proof shown by Customer
2) Video line should be end to end encrypted
3) Ask permission from Customer to access camera
4) AI should be able to identify the letters and numbers visible on Picture Document
5) Record and Save video call with encryption in Name of proposal no or Agreement No.
6) Identify face in Camera.

1.4. Project Objective

To provide IT solution for the business
1) Without visiting office Real-time document verification
2) Connect video line from B2C with encryption
3) Capture images with encryption from ongoing video
4) Record videos in Data base.

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1.5. Project Scope
1.5.1. In Scope Functionality
1) Platform with Audio-visual interaction with a business official.
2) Capture image option to Business user during the Video call.
3) Save the Captured images into the data base (encrypted)
4) Focus Assist on customer end to recognize letters and numbers visible in image.

1.5.2. Out Scope Functionality

1) Facial matching & geo-tagging
2) AI Assistance to capture image.
3) Average call answer time from Business user.

2. Assumptions
1) Customer should be able to understand prompt instruction
2) Both users connected with Ethernet
3) Business user agent should be able to check Blank screen
4) Business user agent aware of business rule.

3. Constraints
1) Can connect only if customer allows access to camera.
2) Can connect with business only if the business user available.

4. Risks
4.1. Technological Risks
Pre-recorded Versus Live Video

4.2. Skills Risks

Both Business and Customer should be able to understand the instruction given in prompts

4.3. Political Risks

NA

4.4. Business Risks

Business must user reliable network to keep data safe

4.5. Requirements Risks

NA
4.6. Other Risks
NA

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5. Business Process Overview
FIN Sol Pvt. Ltd. Is lending company It is a platform facilitating the loan transactions between the
borrowers and the NBFCs/Banks. All loan applications are approved and sanctioned by NBFCs/Banks
registered with RBI and communicated upfront during Loan application. They work only with RBI
certified NBFCs/Banks and the name of the lender is always in the loan agreement.

5.1. Current
System (AS-
IS)
Currently Business using
the traditional process of
KYC which is as follows
1) Download and
Submit Review on fill the KYC form
Loan Accept/Reject
Customer Supplymentry application 2) Enter customer
Application Proposal Aadhaar/PAN
Documents from Business
details
3) Visit a nearest branch office and submit application
4) Attach the proof of identity and proof of address along with the application
5) Submit biometrics, if required
6) Track status using the given application number.

DOWNLOAD
FILL DETAILS VISIT BRANCH
FORM

SUBMIT ATTACH
REVIEW
DECLEARATION PROOFS

APPROVAL

5.2. Proposed Recommendations (TO-BE)

As keeping the existing/current system Vkyc is added option to customer

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REGISTER REQUEST SHOWS ID
ONLINE CALL PROOFS

AUTHORIZE
APPROVAL REVIEW
DETAILS

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6. Business Requirements
1) Design User friendly system.
2) Easily accessible to both users.
3) Must show instruction prompts.
4) Must able to capture image.
5) Customer should be able to provide feedback
6) It should be end to end encrypted
7) Must able to use system camera
8) Should have in App/Web dial in option to connect with agent

7. Appendices

7.1. List of Acronyms

7.2. Glossary of Terms