Tech News Summary:
- Signzy’s no-code AI platform and APIs were used to develop and deploy Sarathi, a digital onboarding platform for merchants launched by Axis Bank in India. Sarathi allows retailers to instantly register and start accepting digital payments within minutes.
- Sarathi’s onboarding workflow was designed using Signzy’s APIs for real-time database checks and live video KYC, eliminating the field verification process and providing a seamless POS installation experience for new merchants.
- The video KYC solution provided by Signzy’s platform features end-to-end encryption and advanced forensics to detect fake videos, ensuring a highly secure and compliant onboarding journey for merchants. Axis Bank remains committed to delivering innovative and easy-to-use experiences to its business partners.
Signzy, a leading platform for digital onboarding, announced today that its innovative no-code AI platform has completely revolutionized the merchant onboarding process for Axis Bank. This breakthrough technology has been a game-changer for the bank, streamlining processes and making life easier for both merchants and bank staff.
The No-Code AI Platform is a powerful tool that uses artificial intelligence and machine learning to automate complex processes like KYC (know-your-customer) and AML (anti-money laundering) compliance checks. This platform is designed to help financial institutions, like Axis Bank, reduce the time and resources required for onboarding and managing new merchants.
Axis Bank, a leading private-sector bank in India, was struggling with outdated, manual methods of onboarding new merchants. This process was time-consuming, error-prone, and required a significant amount of paperwork. With the help of Signzy’s No-Code AI Platform, the bank was able to streamline this process, reducing the time required for onboarding from days to a few hours.
The platform enables merchants to submit their KYC details online, and the platform automatically verifies this information using real-time integration with government databases and other data sources. This saves merchants from having to visit the bank in person and helps to reduce the risk of fraud.
“Axis Bank is delighted to partner with Signzy, and the no-code AI platform has helped us significantly streamline our merchant onboarding process,” said Sapan Kumar, Head of Payments and Acquiring at Axis Bank. “The platform is highly intuitive and user-friendly, eliminating the need for manual data entry, which has resulted in faster and more accurate onboarding of our merchants.”
Signzy’s No-Code AI Platform has proven to be a reliable and efficient solution for banks and financial institutions looking to streamline onboarding processes. The platform’s user-friendly, no-code design enables even non-technical users to customize the platform to their needs, providing a degree of flexibility that was previously unavailable. This technology has significant implications for the financial industry, offering an innovative approach to compliance and risk management.
Signzy is widely considered to be a pioneer in digital onboarding technology, and its No-Code AI Platform has already made a significant impact on the banking industry. As more institutions turn to automated solutions for compliance and onboarding, Signzy’s platform is poised to continue driving innovation and efficiency for the industry.