REQUEST FOR PROPOSAL ENHANCING CUSTOMER … · features that facilitates collection of KYC...

REQUEST FOR PROPOSAL – ENHANCING CUSTOMER ONBOARDING

Stock Holding Corporation of India Limited

(StockHolding)

RFP REFERENCE NUMBER: NPD-01/2017-18

DATE: 22.01.2018

FOR

Request For Proposal for Enhancing Customer Onboarding solution

This request for your proposal may contain proprietary information that is confidential to Stock

Holding Corporation of India Limited (stockholding). No part of this document or its attachments

may be reproduced, in whole or in part, unless specifically required for the supplier’s internal

use in responding to the solicitation. Unauthorized disclosure of this document or its contents or

failure to observe other specific requirements contained herein, will result in disqualification from

further consideration. No representations or warranties are made concerning the completeness

or accuracy of information contained in this document. All proposals, presentations, and

supporting materials submitted in this solicitation will be treated with confidentiality and used

solely for the purpose of selecting suppliers


DISCLAIMER

The information contained in this Request for Proposal (RFP) document or information

provided subsequently to bidder(s) or applicants whether verbally or in documentary form by

or on behalf of Stock Holding Corporation of India Limited (StockHolding), is provided to the

bidder(s) on the terms and conditions set out in this RFP document and all other terms and

conditions subject to which such information is provided.

This RFP document is not an agreement and is not an offer or invitation by StockHolding to

any parties other than the applicants who are qualified to submit the bids (“bidders”). The

purpose of this RFP is to provide the bidder(s) with information to assist the formulation of

their proposals. This RFP does not claim to contain all the information each bidder may

require. Each bidder should conduct its own investigations and analysis and should check the

accuracy, reliability and completeness of the information in this RFP and where necessary

obtain independent advice. StockHolding makes no representation or warranty and shall incur

no liability under any law, statute, rules or regulations as to the accuracy, reliability or

completeness of this RFP. StockHolding may in its absolute discretion, but without being

under any obligation to do so, update, amend or supplement the information in this RFP.


RFP Document Details

Name of Organisation Stock Holding Corporation of India Limited

RFP Reference No. NPD-01/ 2017-18

Requirement Enhancing Customer On boarding Solution for Stock

Holding Corporation India Limited through a digital

customer onboarding approach with use of artificial

intelligence

Date of issue of RFP document January 22, 2018

Pre-bid meeting January 29, 2018, 10.30 am at Stock Holding Corporation

of India Limited, 301, Centre Point, Dr. Baba Saheb

Ambedkar Marg, Parel, Mumbai- 400012.

Last Date and time of Submission of

online technical and financial bids

February 14, 2018, 5.00 p.m.

Address for submission of bids Stock Holding Corporation of India Limited, 301,

Centre Point, Dr. Baba Saheb Ambedkar Marg, Parel,

Mumbai- 400012.

Date for Technical bid opening February 15, 2018

Time and Place of Technical Bid

opening

11.30 am, Stock Holding Corporation of India Limited,

301, Centre Point, Dr. Baba Saheb Ambedkar Marg, Parel,

Mumbai- 400012.

Contact Details Rashmi Mathew, Manager, New Product Development.

Ph: 022-61778060/ 022-61779033

Date and time of online reverse

auction for commercial finalization

Will be intimated to only eligible/technically qualified

bidders

This RFP document is not transferable.


I. Introduction

This Request For Proposal (“RFP”) document is meant for the exclusive purpose of

enhancing “Online Customer Onboarding Solution” for Stock Holding Corporation of

India Limited (“StockHolding”) as per the terms, conditions, and specifications indicated

in this RFP and shall not be transferred, reproduced or otherwise used for purposes other

than for which it is specifically issued.

The bidder shall conduct a Study of Stockholding’s current process of onboarding a

customer and Know Your Customer (KYC) for its Depository participant and other

business including broking, SIP for Securities, National Pension Scheme, GoldRush,

NACH forms, PayEezz forms and CAN forms as mentioned in this RFP and submit a

Solution thereof, with a detailed project plan, and also monitor the same during the

solution/service rollout.

II. Background

Current State of Customer Onboarding and KYC

The method of opening of accounts for customers is manual. StockHolding is in the

development and implementation stage of a single onboarding solution which has the

capacity of in-built CKYC & AML. The said solution also has the capacity of API

integration for PAN, eKYC and eSign.

StockHolding is desirous of setting up an online digital process with the best advanced

features that facilitates collection of KYC documents from customers which has to be

integrated with the process of onboarding in order to minimise human intervention for

StockHolding.

III. Submission of Proposal:

The Sealed Bids in accordance with this RFP should be submitted to the below address

on or before the deadline date as mentioned in RFP document details.

Ms. Rashmi Mathew, Manager, Stock Holding Corporation of India Limited, Registered

Office, 301, Centre Point, Dr. Babasaheb Ambedkar Road, Opp. Bharat Mata Cinema, Parel,

Mumbai 400 012.

The Technical Bid and Financial Bid should be submitted in separate non-window

envelopes. The bidder will submit Technical Bid in separate non-window envelope duly

sealed & stamped by mentioning “Technical Bid” on the envelope and Financial Bid in


separate non-window envelope duly sealed & stamped by mentioning “Financial Bid” on

the envelope.

The technical proposal with the relevant information/documents/acceptance of all terms

and conditions as described in this RFP document will be submitted in the sealed

envelope to StockHolding by the bidder(s).

IV. Due Diligence:

The bidder is expected to examine all instructions, Forms, Terms, Conditions and

Specifications in this RFP. Bids shall be deemed to have been made after careful study

and examination of this RFP with full understanding of its Implications. The Bid should

be precise, complete with all details required as per this RFP document. Failure to furnish

all information required by this RFP or submission of Bid not as per RFP requirements

will be at the bidder’s risk and may result in rejection of the bid and the decision of

StockHolding in this regard will be final and conclusive and binding.

V. Cost of Bidding:

The bidder shall bear all costs associated with the preparation & submission of its bid and

StockHolding will in no case be held responsible or liable for these costs, regardless of

the conduct or outcome of the bidding process

VI. Clarifications regarding RFP Document:

Before bidding, the bidders are requested to carefully examine the RFP Document and

the Terms and Conditions specified therein, and if there appears to be any ambiguity,

contradictions, gap(s) and/or discrepancy in the RFP Document, they should forthwith

refer the matter to StockHolding for necessary clarifications. A bidder requiring any

clarification for their queries on this RFP may obtain such clarifications via email

[email protected]/[email protected] mentioning the RFP

reference number. StockHolding shall not be responsible for any external agency delays.

StockHolding reserves the sole right for carrying out any amendments / modifications /

changes in the bidding process including any addendum to this entire RFP. At any time

before the deadline for submission of bids / offers, StockHolding may, for any reason

whatsoever, whether at its own initiative or in response to a clarification requested by

bidders, modify this RFP Document. All bidders who have received this RFP document

shall be notified of the amendment by phone or e-mail, and all such amendment(s) shall

be binding on them. StockHolding reserves the rights to extend the deadline for the

submission of bids, if required. However, no request from the bidders for extending the

deadline for submission of bids, shall be binding on StockHolding. StockHolding

mailto:[email protected]

mailto:[email protected]


reserves the right to amend / cancel / postpone / pre-pone the RFP without assigning any

reasons.

VII. Validity of offer:

The offer should remain valid for a period of at least 180 days from the date of

submission.

VIII. Services and Detailed Scope of Work

Customer onboarding process today for Stock Holding Corporation of India Limited is

manual and involves physical collection of all documents, and manual verification of

these documents in the back end. Stockholding is in the process of implementing single

onboarding solution. Below are the details of the solution which is required:

1. Solution: User interface for digital customer onboarding

A user interface for digital customer onboarding with use of artificial intelligence having

capability of:

▪ Interactive form enabling enhanced user experience and reduced effort of form

filling.

▪ Regulatory form intelligence to ensure compliance of KYC norms as per SEBI

▪ Real time Digital verification of KYC documents for different entity types using

algorithm and collection of data.

▪ Integration of various third party services on one platform for seamless

experience.

▪ Machine Learning Engine that learns digital frauds and vulnerabilities to predict

future frauds.

2. Scenarios for Digital Onboarding:

● Scenario 1 (“Self”):

Relationship Manager sends the link of the customer onboarding Web App to the

customer. Customer can also reach the link through digital presence created. Customer

will fill up the form by himself by logging into the portal after creating ID and password.

A unique customer ID number will be generated for the customer.

● Scenario 2 (“Assisted”):


Relationship Manager visits the customer, helps the customer create a login ID and

password and helps him upload all the relevant documents. A unique customer ID number

will be generated for the customer.

3. Scope:

The scope of the project includes:

1. Detailed Systems Requirements Study by the vendor and provision of Functional

Requirements Specification Manual (FRSM) relating to the functionalities required

to support the Customer Onboarding System.

2. Making provision for computing resources in the cloud to handle the software

delivered and its implementation. There should be multiple instances in the cloud

environment to address the development, testing, production and training needs of

StockHolding.

3. The delivered system should have the capability to manage client profiles across

various categories of clients.

4. The said user interface system should be functionally integrated with the backend

system of StockHolding. The Bidder should be capable of providing support for

integrating additional products or solutions in future with the backend system as the

case may be.

5. The bidder is required to customize all the application software provided by him to

suit and fulfil StockHolding’s functional and technical requirement as would emerge

from the FRSM.

6. The Bidder shall also provide for all subsequent changes as are statutory in nature

and prescribed by regulatory bodies from time to time.

7. A comprehensive testing of the solution is required to ensure that it meets the

requirements of StockHolding in all respects as defined. This is envisaged to occur in

two stages. The first stage is System Integration Test (SIT), which will be conducted

by the bidder. The second stage of testing is User Acceptance Test (UAT), which

will be conducted by StockHolding with necessary support from the Bidder. The

UAT is expected to ensure that all the functionality requested for by StockHolding is


available and is functioning accurately. StockHolding may also engage external

experts / agents to conduct the UAT / any other type of testing.

8. The Bidder will convey to StockHolding that all the customizations that are required

to ‘Go Live’, as agreed upon and signed off by StockHolding, are completed and the

solution is ready for SIT. At this stage, the bidder will prepare test cases for the SIT

with StockHolding’s data and assistance. Thereafter, the Bidder will conduct the SIT

using all suitable means. StockHolding will have the right to monitor/audit the SIT

through its own personnel or personnel appointed by StockHolding and the

observations made by StockHolding/its appointed agents will have to be taken

cognizance of and carried out.

9. Complete documentation to be submitted on completion of the project.

10. The date of software warranty will start from the date the software declared ‘Go

Live’ and is fully operational in StockHolding and will continue for a period of six

months. The Go Live date will be declared by StockHolding after satisfying itself

regarding the entire implementations and delivery.

11. Warranty should not become void if StockHolding buys any other add-on software

from a third party and installs it in the presence of the representative of the System

Integrator. However, the warranty will not apply to such third-party software items

installed by StockHolding.

IX. DELIVERABLES:

Product should include the following components:

A. Customer On-boarding Screen:

The vendor needs to create user-friendly and visually appealing screens with in-built

quick and easy navigation. The deliverables includes creating required form fields &

operations screens customized to the need of Stockholding. It needs to ensure that all

form fields as are required by the current form filling process are captured during the

digital onboarding process, with the following features:

▪ Digital Application/ Capacity to enhance the existing digital application where

customer details can be inputted.

▪ Auto form filling through computer vision on ID images.


▪ Searchable function to auto select entities and eliminating lengthy form and

document collection.

▪ Output in custom format as per Stockholding – PDF, Excel, JSON or any digital

format.

▪ Integrating details captured in the application to facilitate pulling and pushing of

data with onboarding solution and back end systems of StockHolding.

▪ Artificial Intelligence based document detection, reading and customer

interaction.

B. Verification and Authentication Engine:

An Engine enables verification of the government IDs digitally using various online

government databases. It also uses Artificial Intelligence (“AI”) to match the IDs and

authenticate the user using advanced digital authentication techniques:

KYC should include:

▪ Facility to do e-KYC using Aadhaar and the record being available.

▪ AI based Image forensics on each ID to perform similar function to “eye-

balling” function in operations.

▪ Real time verification APIs to ensures that there is no delay in moving

applications from data collection to risk screening

▪ All 6 Originally valid documents (OVDs) mandated by SEBI/RBI– Aadhaar,

PAN Card, Passport, Driving License, Voter ID and MNERGA ID to be

supported.

▪ Advanced Image Forensics to detect Photoshop and other vulnerabilities.

Digital Signature and Authentication to include:

▪ Electronically signing of the forms with the clients using Aadhaar E-Sign and

Face matching technology.

▪ Video Verification which can act as additional digital evidence can be created by

doing a video based verification of the signees.

▪ Video Analytics to detect advanced video frauds.

C. Backend Dashboard:

A dashboard needs to be provided for the backend ops to view and verify the

customer who has been onboarded. The dashboard will allow him to view in real-

time the risk assessment of the customer using artificial intelligence. It should also


integrate all the checks on single dashboard allowing for quick decision making. The

dashboard should provide:

▪ Complete compliance to all required KYC mandates as per regulations by SEBI

▪ Easy to use visual dashboards for back end operations with derived outputs and

checks to enable faster assessment of customers

▪ Integration of various third-party services on one platform for seamless

experience

▪ Role and hierarchy management

D. Integration with Current Systems

▪ Application seamlessly integrates with StockHolding Lead Management System

(LMS), customer onboarding system and StockHolding back office system to

manage the entire customer journey.

▪ Backend dashboard has ability to integrate with current checks like Negative

De-dupe etc. to give a seamless experience to the backend operations team.

▪ Can easily customize the final data output in any format for storage, pushing to

back office or any other system being used by the organization.

X. Eligibility Criteria

a. The Bidder should be a company having core business of providing digital KYC

solution to the financial industry and having previous experience of building similar

solutions for other financial institutions in digitising their customer onboarding

journey.

b. The company should be incorporated in India and the beneficial ownership should

also be of Indians. The company should have been working for a PSU providing

services to automate account opening and digital KYC.

c. The Bidder should own the intellectual property rights over the solution it provides

and should not be a re-seller or distributor of the services as required under this RFP.

d. The Bidder should have an office in the city of Mumbai.

e. The bidder should not be blacklisted/ debarred by any Statutory/ Regulatory or Government

Authorities/ Public sector unit at the time of submission of bid. The bidder must certify to that

effect. f. The Bidder should have been in business for a period of minimum 2 years before the

date of bidding.


XI. Bid Preparation and Submission Details

The bidder has to submit Technical Bid and Financial Bid separately in the Sealed & stamped

envelope.

1. Technical Bid

a. The bidder will submit Eligibility criteria and Technical Bid in sealed & stamped

envelope by mentioning “Technical Bid” on the envelope.

b. List of Enclosures to be submitted properly numbered and indexed along with

signatures of the authorized representative of quoting bidders. c. The technical bid to give all relevant details with regard to pre-requisites, if any,

bill of materials, scope of work, implementation plan, support details, escalation

matrix, solution architecture, implementation and delivery period for the smooth

integration and implementation of the solution being offered.

d. Any other document which the vendor may consider necessary to support the services /

solution /bid. e. The bid to mention detailed technical write up highlighting the features of the

systems offered.

f. Information on planned future upgrades and compatible services along with the

anticipated time frame.

g. Complete documentation to be submitted on completion of the project.

h. List of important clients where same service / solution have been deployed.

i. Certificate to the effect that the offered/quoted services conform to the tender

specification.

j. All the pages should be signed and stamped by bidder. k. There should not be any hidden / conditional costs in the bids and in the event of

their presence in the bid, the bid is liable to be rejected.

l. No indications pertaining to price or financial terms should be made in the

Technical Bid submission. If any price indications are made, then the bids may

be rejected.

m. No open ended / conditional bid shall be entertained and are liable for rejection.

Only those bidders, who satisfy the technical requirements, accept the terms and conditions of this

RFP document shall be short-listed for further evaluation.


2. Financial Bid

a. The bidder will submit Financial bid in sealed & stamped envelope by

mentioning “Financial Bid” on the envelope

b. The bids not confirming to the RFP requirements shall be rejected

c. The bidder should quote only in the format given (Annexure- F.3-Financial Bid).

All the pages should be signed and stamped by bidder.

d. Bidders shall indicate their rates in clear/visible figures as well as in words. In

case of a mismatch, the rates written in words will prevail.

e. The prices mentioned should be Indian Rupees Only.

f. The bidder should mention all applicable taxes and levies, etc.

3. Submission of Bids

a. The Technical Bid and Financial Bid should be submitted in separate non-

window envelopes duly. The bidder will submit Technical Bid in separate non-

window envelope duly sealed & stamped by mentioning “Technical Bid” on the

envelope and Financial Bid in separate non-window envelope duly sealed &

stamped by mentioning “Financial Bid” on the envelope.

b. These envelopes should be submitted in one sealed cover, super scribing the

envelope “ Tender bid for Enhancing Customer Onboarding Solution“ and must

mention the RFP reference number & name of the bidder below. Bid should be

complete in all respects.

c. The required documents for Eligibility Criteria and Technical Bid, Financial Bid

must be submitted. Technical Bid and Financial Bid should be complete in all

respects and contain all information asked for in this RFP document.

d. The offer should be valid for a period of at least 180 days from the last date of

submission of bid.

e. Tender bid must contain the name, office and after office hours addresses

including telephone number(s) of the person(s) who are authorized to submit the

bid with their signatures.

f. Un-signed & un-stamped bid shall not be accepted.

g. All pages of the bid being submitted must be signed and sequentially numbered

by the bidder irrespective of the nature of content of the documents.


h. Bids NOT submitted as per the specified format and nomenclature will be out

rightly rejected.

i. Ambiguous bids will be out rightly rejected.

j. StockHolding will NOT be responsible for any delay on the part of the vendor in

obtaining the terms and conditions of the tender notice or submission of the

tender bids.

k. The offers submitted by telegram/ fax/ E-mail etc. shall NOT be considered. No

correspondence will be entertained on this matter.

l. Any alteration / overwriting / cutting in the bid should be duly countersigned

else it will be out rightly rejected. Conditional tenders shall NOT be accepted on

any ground and shall be rejected straightway.

m. If any clarification is required, the same should be obtained before or during pre-

bid meeting only.

n. Bidder shall furnish a compliance statement (Point-wise) of specifications &

features of offered services / solution with the Technical Bid.

o. The vendor (bidder) shall fulfil all statutory requirements as described by the

law and Government notices. The vendor (bidder) shall be solely responsible for

any failure to fulfil the statutory obligations and shall indemnify StockHolding

against all such liabilities, which are likely to arise out of the agency’s failure to

fulfil such statutory obligations

p. The vendor (bidder) shall be solely responsible either for any injury, damage,

accident to the workman employed by the vendor (bidder) for any loss or

damage to the equipment/property in the areas of work as a result of

negligence/carelessness of its deployed resources.

q. No request for any further extension of the above deadline shall be entertained.

Delayed and/or incomplete bid shall not be considered.

r. Bidders are advised to submit their online Technical and Financial bids well

before last date of submission.


s. There may not be any extension(s) to the last date of online submission of

Technical and Financial bids. This will be at the sole discretion of Stock Holding

Corporation of India Limited.

XII. Evaluation of Bids

The bidder shall supply advanced solution to meet the functional and technical

requirements as mentioned in this document.

Responses from Bidders will be evaluated in three stages as below:

Stage-A: Eligibility Evaluation

The stage-A evaluation shall be done on a knock out basis. Eligibility evaluation includes

bidder’s eligibility, compliance to regulatory requirements (if any), bidder’s experience in

providing Similar solutions in BFSI segment (Refer Annexure I).

Stage- B: Competency Evaluation/Technical Bid evaluation

Stage B includes Competency Presentation by the Eligible bidders who qualify in Stage

A.

Stage-C: Financial Bid Evaluation

The bids of only those vendors who qualify in Stage A would be considered for Stage-B

and Stage- C.

StockHolding will evaluate the bid submitted by the bidders under this RFP. It is the

discretion of StockHolding to decide at the relevant point of time. The vendor (bidder)

needs to comply with all the eligibility criteria mentioned in the RFP. Non-compliance to

any of the mentioned criteria would result in outright rejection of the bidder's proposal.

The decision of StockHolding would be final and binding on all the bidders to this

document. StockHolding may accept or reject an offer without assigning any reason what

so ever. The bidder is required to comply with the requirement mentioned in the RFP.

Non-compliance to this may lead to disqualification of a bidder, which would be at the

discretion of StockHolding.

a. Please note that all the information desired needs to be provided. Incomplete

information may lead to non-consideration of the proposal.

b. The information provided by the bidders in response to this RFP document will

become the property of StockHolding.


1. Eligibility Evaluation

The eligibility bid submitted by the vendor (bidder) will be evaluated against the

Eligibility criteria set forth in the RFP.

a. The Bidders are requested to furnish documents to establish their eligibility for each

of the items given in Eligibility Criteria. Relevant portions in the documents should

be highlighted. If a bid is not accompanied with all necessary documents, it may be

summarily rejected.

b. Undertaking for subsequent submission of any of the eligibility documents will not be

entertained. However, StockHolding reserves the right to seek fresh set of documents

or seek clarifications on the already submitted documents.

c. Upon verification, evaluation/assessment, if in case any information furnished by the

Bidder is found to be false/incorrect, their bid will be summarily rejected and no

correspondence on the same shall be entertained. Submission of false/forged

documents will lead to blacklisting of vendor for a minimum period of 3 years from

participating in StockHolding tenders.

d. A Bid that does not fulfil all the stipulated eligibility conditions/criteria will not be

considered.

e. The decision of StockHolding would be final and binding on all the Bidders to this

document. StockHolding may accept or reject an offer OR all offers without

assigning any reason what so ever.

2. Technical Bid Evaluation

a. StockHolding will examine the bids to determine whether they are complete, whether

required information have been provided as underlined in the bid document, whether the

documents have been properly signed, and whether bid documents are generally in order.

b. The short listed Bidders would be asked to offer demonstration of the quoted services for

technical evaluation in a short notice period of 7 days, along with their own test database

and technical manpower, to StockHolding-Mahape as per schedule to be intimated to

them. In case the vendor fails to bring and demonstrate the working of quoted services

within the time frame given by StockHolding for evaluation, the bid shall be rejected.

c. For Technical evaluation, bidders have to ensure the availability of appropriate specialist,

along with every type of documentation required, from their organization for interacting

with evaluation team. In case a bidder does not make the required specialist along with

proper documentation available, then such defaulting bidder shall be taken off the tender

evaluation process and the bid will stand rejected.


d. During the technical evaluation, if any of the items FAIL to meet the specification

requirement, no subsequent opportunity will be given to the bidder(s).

3. Financial Bid Evaluation

1. The Financial Bids of only the technically qualified short-listed bidders by committee

will be opened in the presence of their representatives on a specified date and time to be

intimated to the respective Bidders by Tender Process Section of StockHolding, and the

same will be evaluated by a duly constituted Committee.

2. If StockHolding considers necessary, Revised Financial Bids could be called for from the

technically short-listed Bidders, before opening the original financial bids for

recommending the final empanelment.

3. In the event of revised financial bids being called, the revised bids should NOT be higher

than the original bids, otherwise the bid shall be rejected.

4. There will be NO NEGOTIATION regarding the financial bid.

No enquiry shall be made by the bidder(s) during the course of evaluation of the tender,

after opening of bid, till final decision is conveyed to the successful bidder(s). However,

the Committee/its authorized representative and office of StockHolding can make any

enquiry/seek clarification from the bidders, which the bidders must furnish within the

stipulated time else bid of such defaulting bidders will be rejected.

XIII. SELECTION

In deciding the final selection of qualified bidder, the technical quality of the proposal

will be given a weightage of 70% on the basis of criteria for evaluation. The price bids of

only those bidders who qualify technically will be opened. The proposal with the lowest

cost will be given a financial score of 100 and the other proposal(s) will be given

financial scores that are inversely proportional to their prices. The financial proposal shall

be allocated a weightage of 30%.

The selected bidder would be sent selection intimation by the Corporation. On receipt of

such intimation, the bidder is expected to accept and begin the process as per the scope of

work mentioned in the RFP along with modifications, if any, as mutually agreed between

StockHolding and the selected bidder.

XIV. Period of engagement

The period of engagement would be for a period of 5 years from the date acceptance of

the appointment by the Selected Bidder but not later than 7 days from the date of

Selection intimation letter. The period of engagement can be extended on requirement


with the same terms and conditions and subject to satisfactory performance of the

Selected Bidder.

XV. Right to alter RFP:

(a) StockHolding reserves the right to alter the RFP terms and conditions at any time

before submission of the bids.

(b) StockHolding reserves the right to modify, amend, alter and/or cancel the entire RFP

at any stage without assigning any reason whatsoever. We further understand and

accept that StockHolding decision in this regard will be final and binding on all

vendors (bidders).

XVI. No Commitment to accept lowest or any other bid:

StockHolding shall be under no obligation to accept the lowest or any other offer

received in response to this tender (RFP) notice. StockHolding further reserves the right

to reject any or all offers based on its own evaluation of the offers received, or on the

basis of stability, capabilities, track records, reputation among users and other similar

credentials of a vendor (bidder). When StockHolding makes any such rejection,

StockHolding will not be bound to give any reason and/or justification in this regard to

the vendor (bidder).

In the event of receipt of single bid, StockHolding reserves the right to accept or reject

the offer.

XVII. Non-Disclosure Agreement (NDA):

The successful vendor (bidder) will sign a Non-Disclosure Agreement (NDA) with Stock

Holding Corporation of India Limited. The draft text of the NDA will have to be

approved by legal department of Stock Holding Corporation of India Limited.


XVIII. Indemnify:

The vendor (bidder) should hereby indemnify, protect and save StockHolding against all

claims, losses, costs, damages, expenses, action suits and other proceedings, resulting

from infringement of any patent, trademarks, copyrights etc. or such other statutory

infringements in respect of all the equipment offered by the vendor (bidder). Any

publicity by vendor (bidder) in which name of StockHolding is used should be done only

with the explicit permission of StockHolding.

XIX. Repeat Order:

StockHolding reserves the right to place repeat Purchase Orders with successful bidder

for any or all of the services at the agreed unit rate within 3 year from the date of

acceptance of the Purchase Order.

XX. Service Level Agreement and Penalty

In the event of award, the selected bidder will be required to execute a Service Level

Agreement (“SLA”) with Stock Holding covering all terms and conditions of this RFP.

Bidder will be required to strictly adhere to (SLA). Services delivered by bidder should

comply with the SLA.

The bidder should generate SLA reports for tracking the delivery of services. SLA will be

reviewed on a monthly basis and based on the review payments for the services will be

done.

Any unjustified and unacceptable delay beyond the service delivery schedule as per

purchase order will render the vendor liable for penalty and would be specified in the

SLA.


ANNEXURES:

F.1. – Annexure -ELIGIBILITY

Eligibility Criteria Supporting Documents

For bidder

1 The Bidder should be a company

having core business of providing

digital KYC solution to the

financial industry and having

previous experience of building

similar solutions for other financial

institutions in digitising their

customer onboarding journey.

Valid Certification of

incorporation as on date of bid

submission.

Note*: Company may submit

Shop and establishment

certificate/ Sales Tax Copy for

the previous year along with

certificate of incorporation. The

proprietor of the Proprietorship

firm and director of the Company

should be same.

2 The company should be

incorporated in India and the

beneficial ownership should also be

of Indians.

Certificate of Incorporation

Share holding pattern

3 The bidder should not be

blacklisted/ debarred by any

Statutory/ Regulatory or

Government Authorities/ Public

sector unit at the time of

submission of bid. The bidder must

certify to that effect.

Self-declaration on Bidder’s

letter head signed by authorised

signatory

4 The company should have been

working for a PSU providing

services to automate account

opening and digital KYC. The

Bidder should have been in

business for a period of minimum 2

years before the date of bidding.

1. Relevant credential letters

OR

2. Purchase order / contract

along with completion

certificate

5 The Bidder should own the

intellectual property rights over the

solution it provides and should not

be a re-seller or distributor of the

services as required under this

RFP.

Self declaration by

authorised signatory on

bidder’s letter head.


6 The bidder should deal / contract

directly with Stockholding and not

through business partner, vendor or

implementation partner

Self declaration signed by

authorised signatory on

bidders letter head

F.2. ANNEXURE: LIST OF SIMILAR SERVICES DEPLOYED

S.No. Services

provided to

Organization/

Department

State District No of

successful

transactions

performed

Provided On

(Year)

1

2


F.3. ANNEXURE: FINANCIAL BID

Prices in Financial Bid should be quoted in the following format, as per the specifications in

respective Annexure. Prices should be quoted in Indian Rupees and indicated both in figures and

words. Figures in words will prevail.

Bidder Name:

Bidder’s Billing Address:

Bidder’s GST No:

Financial Bid Format:

Sr. No. Service Description Unit Price (All

inclusive )

Remarks ( offers)

In Rs.

1 Cost of User interface (Per onboarding

*) – (Consolidated-total)

2 Feature name

Other charges, if any

*In case the bidder has alternate costing category, the same may also be mentioned separately.

Note:

1. The price quoted by the Vendor should be inclusive of all taxes except service tax.

2. All fixed costs (Registration, Integration, Implementation, License cost of the software

components deployed in the client onboarding infrastructure) and variable costs

(Subscription and Maintenance cost which includes patches, updates and remote

technical support for e-Sign services) has to be factored in the quote for per transaction

fee. The price quoted shall be firm and binding without escalation whatsoever.

3. Further, we confirm that we will abide by all the terms and conditions mentioned in the

Tender document

Authorized Signatory

Name:

Date:

Place:

(SEAL)

REQUEST FOR PROPOSAL ENHANCING CUSTOMER … · features that facilitates collection of KYC...

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