If you are looking for UCIC (Unique Customer Identification Code) for Bank account then, you are in the right place. Here we are also providing all detail of UCIC.
UCIC (Unique Customer Identification Code)
- UCIC is Unique Customer Identification Code.
- RBI vide its Circular DBOD.AML.BC.No. 109/14.01.001/2011-2012 dated June 8, 2012, has advised banks to initiate steps for allotting Unique Customer Identification Code (UCIC) to all its customers while entering into any new relationships.
- Unique Cust ID helps the bank to identify customers, track the facilities availed, monitor financial transactions in a comprehensive and combined manner at a customer level and enable the bank to have a better approach to risk profiling of customers.
Stap By Step Interaction Of UCIC To Bank New Customer
- In the Core Banking System, we already have a unique Customer ID.
- This is allotted to every customer while entering into any new relationship, which will serve as the Unique Customer Identification Code.
- However, there can be cases where the customer has been allotted multiple customer ids since the bank was not informed about his existing customer ID.
- For such customers, the Multiple customer IDs has been consolidated and one of the customer Id has been maintained as the UCIC.
Identified Whose Customers Having Multiple Ids
used to identify customers having multiple customer IDs Combination of various parameters like,
- Pan Number
- Date of birth
- Mobile Number
- Mother’s maiden name
The Different Accounts And Products Which Were Linked To The Other Customer Ids
- The accounts which were linked to other customer Ids have been linked to the UCIC.
- The products which were linked to the other customer Ids have been linked to the UCIC in such a manner that there is the least impact to the customer.
The benefits of a UCIC?
- Enabling tracking of the facilities availed
- To monitor financial transactions in various accounts
- To improve risk profiling
- A holistic view of customer profile
- To smoothen banking operations for the customer
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