Excerpt from The Hindu Business Line Article, Published on Jan 16, 2024
Regulatory compliance service provider Signzy is set to extend its reach overseas, targeting the burgeoning fintech and SME sectors. With a current clientele spanning over 250 financial institutions globally, including India’s four largest banks, Signzy is strategically poised to tap into the digital onboarding, digital contracting, identity verification, and fraud detection solutions market.
The company’s imminent focus is on Europe, the Middle East, and Africa, where it aims to fuel the demand for digital financial infrastructure. Signzy plans to guide businesses in the region towards automating back-office operations and adopting seamless onboarding services in compliance with regulatory standards.
As the fintech landscape continues to evolve in India and small businesses increasingly turn to digital platforms, heightened cybersecurity concerns emerge. Signzy sees a growing demand for robust customer onboarding and fraud detection and prevention services, especially for fintechs and SMEs.
Ankit Ratan, CEO and co-founder of Signzy, emphasizes the role of the company’s services in building trust for small businesses online while mitigating cybersecurity risks. Signzy’s proprietary tech platform, equipped with over 240 APIs, streamlines the Know-Your-Customer and Anti-Money Laundering processes. Ratan notes that the platform’s efficiency has led to a 75% cost reduction, a 66% decrease in customer dropouts, and a threefold increase in productivity.
Founded in 2015, Signzy’s innovative approach revolves around its no-code AI model builder and fintech API marketplace. By leveraging AI-based decision engines and back-office automation, Signzy facilitates real-time account openings, transforming the customer onboarding experience for financial institutions and clients alike.
To delve deeper into this topic, please read the full article on The Hindubuinessline.