Signzy, a technology-based solution provider for financial institutions to comply with regulations, sees huge growth potential in the fintech and SME sectors.

The scope of opportunity includes digital onboarding, digital contracting, identity verification and fraud detection and prevention solutions.

Currently, Signzy works with over 250 financial institutions across the globe including four largest banks in India.

Signzy is looking to increase the demand for digital financial infrastructure in Europe, Middle East and Africa. Its focus would be on educating and empowering businesses in the region to automate back-office operations and adopt frictionless onboarding services in a compliant and regulated manner.

Demand for prevention services

As more fintechs emerge to power digital India and small businesses embrace the internet and digital mediums to expand their reach, there will be heightened cybersecurity concerns for both sectors.

Therefore, robust customer onboarding and fraud detection and prevention services will be in demand for fintechs and SMEs, going ahead.

Ankit Ratan, CEO and Co-founder, Signzy said that company’s services will enable small businesses to build trust in their online ventures and mitigate risks associated with cybersecurity concerns.

The aim is to provide not only the best customer experiences but also best-in-class digital solutions, he added.

“At the heart of Signzy’s prowess lies its no-code AI model builder and a Fintech API marketplace. This dynamic combination empowers banks and fintech firms to automate their operations efficiently,” Ratan said.

Founded in 2015 by Ankit Ratan, Arpit Ratan and Ankur Pandey, Signzy’s proprietary tech platform offers over 240 APIs and provides digital solutions that streamline and elevate Know-Your-Customer and Anti-Money Laundering processes.

The digital solution boosts efficiency, cuts cost by 75 per cent, brings down customer dropouts by 66 per cent and increases productivity by three times, said Ratan.

Through its AI-based decision engines and back-office automation solutions, Signzy helps financial services companies to open real-time accounts, transforming the customer onboarding experience for both financial institutions and their clients, he added.