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5 SaaS FinTech platforms enhancing customers’ digital onboarding

By Leandra Monteiro

November 03, 2022

  • AML
  • Customer Onboarding
  • Digitap
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Fintech, onboardingThe world we live in today is more competitive and accelerated than ever because of technological advancements. Due to these quick developments, traditional institutions felt the need to provide better and more optimal solutions for their customers in order to enhance the user experience. As a result, it is now crucial to concentrate on a useful digital customer onboarding experience. Many start-ups have benefited from this revolutionary change in technology. Here are some SaaS FinTech platforms that help BFSI players with their onboarding processes:

Founded in 2019, Digitap is an early-age start-up that empowers Financial Institutions (FI) through its extensive, alternate data-based risk management stack and provides high-tech advanced Artificial Intelligence (AI)/ Machine Learning (ML) solutions to new-age internet-driven businesses for reliable, fast and 100% compliant Customer Onboarding, Automated Risk Management along with Big Data enabled services like Risk Analytics and Customized Scorecards. Under their digital customer onboarding suite, they provide solutions like Aadhar-based KYC, Video KYC, OCR and validation of OVDs, face matching & face liveness, online document signing using Aadhar/OTP, E-NACH & physical NACH mandate setup and auto debit functionality.

Founded in 2015, Signzy is a market leader in revolutionizing the speed, accuracy, and user experience of how FIs enroll clients and clients utilizing the services. The organization’s no-code GO platform offers workflows that are completely customizable while delivering seamless, end-to-end, multi-channel onboarding journeys. As a part of their digital customer onboarding offering, they provide AI-assisted onboarding, secured digital contracts enabled by biometrics, algorithmic risk assistance, simplified & quick identity verification and Anti Money Laundering (AML) checks.

Founded in 2008, Perfios is another leading provider of product technology that enables businesses to collect structured and unstructured data, curate it, run analyses on it, and use that information to make decisions. The product line from Perfios enables businesses to create vertical applications across numerous industries. The solutions that they provide for digital customer onboarding includes a thorough Fraud Check Utility (FCU) by collecting details of bank e-statements, ITR form, ID verification, address verification, and judicial verification. It also accepts KYC data inputs in both physical and digital formats (PDFs, hard copies, and photos), giving lending decision-makers a single window into the prospective applicants’ financial situation.

Founded in 2015, Karza Technologies serves the whole lending lifecycle, from onboarding to diligence & monitoring to collections, and is the largest provider of data, analytics, automation, and decisioning solutions to FIs. Through outstanding data engineering and cutting-edge applications, its solutions offer systemic fraud prevention, risk management, compliance, and automation. Its cognitive algorithms were created with the possibility of low resolution, Indian faces, worn documents, shadowed/blurred, or skewed images in mind. By matching the photos found in the documents with the face image recorded during the live video call, they are able to reduce the number of false positives.

Founded in 2014, Hyperverge has created patent-pending technology that allows photos to be organized by identifying the persons, places, scenarios, and events that occur in them. It has partnered with many banks for onboarding customers online under COVID-19. Its video KYC solutions come with an accuracy of 99.5% which helps banks provide convenient digital services to customers. It also performs pre-qualifier checks such as name, XML signature, address and simple randomization.

ALSO READ: Robotic Process Automation in Financial Services Report Q3 2022

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