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Combating Subscription Fraud

Combating Subscription Fraud in Telecom

In our previous blog, we delved into the complex and challenging world of subscription fraud in the Indian telecom sector, shedding light on its mechanisms and impact. Now, we shift our focus to solutions and strategies. In this blog, we’ll explore the effective measures and innovative approaches that can be employed to combat subscription fraud. From cutting-edge technologies to robust regulatory frameworks, join us as we navigate through the proactive steps that telecom companies, regulators, and consumers can take to safeguard against these fraudulent activities.

In the fast-paced world of digital subscriptions, India has emerged as a fertile ground for opportunity. From streaming services to OTT platforms, e-commerce giants to food delivery apps, the subscription landscape is booming. However, this rapid growth has also attracted unwanted attention – the cunning specter of subscription fraud.

The Grim Reality of Subscription Fraud in India

Subscription fraud manifests in various forms, each aiming to exploit vulnerabilities in the onboarding process. Common tactics include:

  • Synthetic identities: Fraudsters create fake identities using stolen or fabricated data, often including PAN cards, Aadhaar numbers, and even bank account details. These seemingly legitimate identities then trick platforms into granting subscriptions without any intention of future payments.
  • Account Takeover (ATO): Hackers steal existing user credentials and gain access to active subscriptions, racking up charges before the rightful owner realizes the breach.
  • Sim Swapping: By tricking mobile operators into transferring phone numbers associated with subscriptions, fraudsters divert billing notifications and gain unauthorized access.
  • Carding: Stolen credit card information is used to subscribe to services, leaving the rightful cardholder to deal with the financial repercussions.

These fraudulent activities cause significant financial losses, erode trust in digital platforms, and create a negative user experience. A 2021 report by Juniper Research estimated that global subscription fraud will cost businesses a staggering $20 billion by 2025. In India, the problem is particularly acute, with a 2022 report by Experian revealing that 32% of online transactions are attempted using fraudulent data.

Why is India Vulnerable?

Several factors contribute to India’s susceptibility to subscription fraud:

  • Rapid digitization: The rapid adoption of digital services, coupled with a growing tech-savvy population, presents a vast attack surface for fraudsters.
  • Weak KYC norms: Traditional paper-based KYC verification processes are often unreliable and susceptible to manipulation.
  • Financial inclusion: The increasing use of digital wallets and other alternative payment methods creates additional avenues for fraud.
  • Lack of awareness: Many users remain unaware of the red flags and risks associated with online subscriptions, making them easy targets.

How is Signzy Combating Subscription Fraud?

In this scenario, Signzy emerges as a beacon of hope.

Signzy’s AI-powered identity verification platform leverages cutting-edge technologies to combat subscription fraud and safeguard businesses and users alike. Here’s how:

  • Digital Document Verification: Signzy’s solution verifies the authenticity of uploaded documents like PAN cards, Aadhaar numbers, and bank statements in real-time. Advanced checks like liveness detection and document tampering analysis prevent the use of forged documents.
  • Video KYC: Conducting live video KYC through Signzy’s platform verifies a user’s identity by comparing their facial features with their government-issued ID photos. This human-in-the-loop approach offers an extra layer of security.
  • Fraud Screening: By unearthing hidden patterns and assigning a quantifiable risk score, Signzy empowers platforms to make informed decisions and foster a secure and thriving digital ecosystem. In the ongoing battle against subscription fraud, Signzy’s vigilant screening stands as a beacon of hope, ensuring that the light of trust continues to shine on the path of digital progress.
  • Continuous Monitoring: Even after onboarding, Signzy’s solution provides ongoing monitoring of user activity, detecting suspicious transactions and potential ATO attempts in real-time.

Beyond Technology: Building a Collaborative Ecosystem

Tackling subscription fraud requires a multi-pronged approach. Signzy actively collaborates with:

  • Financial institutions: Sharing data and insights to identify and blacklist fraudulent actors.
  • Law enforcement agencies: Providing assistance in tracking down and prosecuting cybercriminals.
  • Industry bodies: Raising awareness about subscription fraud and advocating for stronger KYC norms.
  • Consumers: Educating users about safe online practices and encouraging them to report suspicious activity.

A Brighter Future

By combining cutting-edge technology with collaborative efforts, Signzy is leading the fight against subscription fraud in India. As awareness grows and platforms adopt robust verification processes, the digital landscape will become a safer and more secure space for both businesses and users.

The journey to eradicate subscription fraud is ongoing, but with proactive measures and innovative solutions like Signzy, we can pave the way for a brighter future of trustworthy and secure digital subscriptions in India.

About Signzy

Signzy is a market-leading platform redefining the speed, accuracy, and experience of how financial institutions are onboarding customers and businesses – using the digital medium. The company’s award-winning no-code GO platform delivers seamless, end-to-end, and multi-channel onboarding journeys while offering customizable workflows. In addition, it gives these players access to an aggregated marketplace of 240+ bespoke APIs, easily added to any workflow with simple widgets.

Signzy is enabling ten million+ end customer and business onboarding every month at a success rate of 99% while reducing the speed to market from 6 months to 3-4 weeks. It works with over 240+ FIs globally, including the 4 largest banks in India, a Top 3 acquiring Bank in the US, and has a robust global partnership with Mastercard and Microsoft. The company’s product team is based out of Bengaluru and has a strong presence in Mumbai, New York, and Dubai.

Visit www.signzy.com for more information about us.
Contact us directly!

Dormant Accounts

Dormant Accounts: Tighter Fraud Control by RBI

Dormant accounts: Waking up to easier reactivation and tighter security with RBI’s new rules! The Reserve Bank of India (RBI) has introduced new regulations to simplify reactivating dormant bank accounts and tackle fraud risks. Key changes include location-independent KYC submission, video-based customer identification (V-CIP), stricter monitoring, and term deposit reviews. These reforms benefit both account holders (easier reactivation, no fees) and banks (reduced paperwork, fraud prevention).

Let’s dive in!

Reactivating Dormant Accounts Just Got Easier!

Gone are the days of trekking to your original bank branch just to reactivate a dormant account. Under the new rules, you can now submit your KYC documents at any branch, regardless of its location. This flexibility makes the process more convenient and accessible, especially for those who have moved or whose original branch is no longer operational.

For the tech-savvy, the RBI offers a futuristic option: video-customer identification process (V-CIP). If your bank provides this service, you can skip the physical visit altogether and get your account back on track through a secure video call.

But the best part? No more surprise fees or penalties! Banks are prohibited from charging you for the reactivation process itself, and they can’t penalize you for not maintaining a minimum balance in your dormant account. This removes a financial barrier and encourages account holders to bring their neglected funds back into circulation.

Enhanced Security Measures for Dormant Accounts

While simplifying reactivation, the RBI hasn’t forgotten about the lurking threat of fraud in dormant accounts. To combat this, banks are now mandated to conduct annual reviews of accounts that haven’t seen any customer transactions for over a year. This proactive approach helps identify dormant accounts that might be vulnerable to unauthorized access or misuse.

Once an account is reactivated, it will be placed under stricter scrutiny for at least six months. This heightened monitoring, conducted at higher levels within the bank, aims to detect any suspicious activity and nip potential fraud in the bud.

Term Deposits and Zero-Balance Accounts Covered

The RBI’s reach extends beyond just dormant savings accounts. Term deposits, for instance, are also covered under the new regulations. Banks must now review these deposits if you haven’t withdrawn the proceeds or transferred them to another account after maturity. This prevents your funds from slipping into the limbo of unclaimed deposits and ensures you receive what you’re rightfully owed.

Even zero-balance accounts, often used for government schemes and scholarships, receive special consideration. These accounts won’t be classified as “inoperative” even if unused for two years, recognizing their specific purpose and ensuring beneficiaries continue to receive their entitlements.

A Timeline for Dormant Account Reactivation

Mark your calendars! The RBI’s new dormant account regulations take effect April 1, 2024, for all banks, including yours. From forgotten savings accounts to matured term deposits and special zero-balance accounts, it’s time to streamline your processes and ensure compliance.

The Takeaway

The RBI’s new rules for dormant accounts are a win-win for both convenience and security. They make reactivation easier, eliminate unnecessary fees, and provide robust safeguards against fraud. The time to act is now! With April 1, 2024, just around the corner, prepare to welcome a surge in reactivated accounts and unlock their full potential. Dust off those dormant files, partner with Signzy, and watch your business flourish under the RBI’s secure and convenient new regulations.

Signzy VKYC: Seamless Dormant Account Reactivation Under New RBI Rules

The RBI’s new regulations have made revitalizing dormant accounts a breeze, but banks still face challenges verifying customer identities efficiently. This is where Signzy’s VKYC API shines, streamlining the KYC process and making reactivation even smoother.

Imagine a customer walking into any branch across your network, eager to resurrect their long-dormant account. With Signzy’s VKYC API integrated into your system, the process is as simple as a video call. No more mountains of paperwork, no more waiting for physical document verification. The customer simply connects with a representative through a secure video link, presents their ID, and voilà! Their identity is verified in real-time, thanks to Signzy’s AI-powered facial recognition and document authentication.

The benefits for banks are numerous. Reduced paperwork cuts processing costs and turnaround times, leading to happier customers and improved operational efficiency. The real-time verification eliminates fraud risks associated with traditional, document-based methods. Plus, the VKYC API’s flexibility allows integration with existing infrastructure, making implementation seamless and hassle-free.

In a nutshell, Signzy’s VKYC API is the perfect complement to the RBI’s new dormant account regulations. It simplifies reactivation for customers, minimizes risk and cost for banks, and ultimately promotes a more secure and efficient financial ecosystem. So, the next time you’re thinking about dormant accounts, remember that Signzy’s VKYC API can be your key to unlocking a win-win situation for everyone involved.

Subscription Fraud

What is Subscription Fraud in Telecom?

In the modern age, where smartphones are extensions of ourselves and data plans fuel our digital lives, the world of telecommunications is a bustling hub of activity. But amidst the convenience and connectivity lurks a shadow – the insidious threat of subscription fraud. This blog delves into the murky depths of this pervasive crime, illuminating its mechanics, consequences, and most importantly, the strategies for effective combat.

Understanding Subscription Fraud

At its core, subscription fraud is a deceptive scheme where individuals obtain telecom services and devices without any intention of paying. They operate like phantoms, exploiting vulnerabilities in onboarding processes and vanishing into thin air, leaving behind a trail of unpaid bills and financial losses for telecom companies.

The Many Faces of a Master of Deception

Subscription fraud manifests in various guises, each a testament to the ingenuity (or perhaps desperation) of the perpetrators. Here are some of the most common forms:

  • Synthetic Identities: Fraudsters craft fake personas using stolen or fabricated data, complete with convincing documentation, to fool verification checks and secure subscriptions.
  • Account Takeover (ATO): Hackers breach existing accounts, hijacking phone numbers and exploiting vulnerabilities to rack up charges before the rightful owner notices.
  • Sim Swapping: By tricking mobile operators into transferring phone numbers, fraudsters divert billing notifications and gain unauthorized access to subscriptions.
  • Carding: Stolen credit card information is used to subscribe to services, leaving the cardholder to shoulder the financial burden.

How Subscription Fraud Breeds More Trouble?

The consequences of subscription fraud extend far beyond unpaid bills. It can:

  • Erode trust: When customers fall victim to fraud, it can damage their trust in telecom providers and the digital ecosystem as a whole.
  • Fuel other scams: Stolen identities and compromised accounts can be used for further fraudulent activities, expanding the reach of the criminal network.
  • Hinder innovation: The financial losses incurred due to fraud can discourage telecom companies from investing in new technologies and services.

Unveiling the Framework

Subscription fraud typically operates within a well-defined framework:

  • Data Acquisition: Fraudsters acquire stolen or fabricated data, including personal information, identity documents, and financial details.
  • Onboarding Manipulation: They exploit loopholes in verification processes to create fake accounts or take over existing ones.
  • Device Procurement: In some cases, they aim to obtain high-end phones or other devices bundled with subscriptions, often reselling them on the black market.
  • Billing Avoidance: They employ various tactics to avoid paying bills, such as disappearing or using stolen payment methods.

Strategies to Combat Subscription Fraud

The battle against subscription fraud requires a multi-pronged approach:

  • Robust Verification: Implementing strong KYC (Know Your Customer) procedures with advanced document verification and liveness detection can deter fraudsters.
  • Behavioral Analytics: Monitoring user behavior during onboarding and usage can reveal suspicious patterns, such as rapid sign-ups or unusual activity.
  • Fraud Scoring: Assigning risk scores based on various data points can help prioritize high-risk accounts for further scrutiny.
  • Collaboration: Sharing information and best practices across the industry, including law enforcement agencies, can help track down and dismantle criminal networks.
  • Customer Education: Raising awareness among customers about the risks of subscription fraud and encouraging them to report suspicious activity is crucial.

Signzy: Fight Against Subscription Fraud

Signzy’s platform leverages advanced technologies like video KYC, document verification, and behavioral analytics to identify and thwart fraudulent attempts in real-time. 

By embracing robust verification processes, collaborative efforts, and innovative technologies like Signzy’s solutions, the telecom industry can create a more secure and trusted landscape for both customers and providers. Together, we can turn the tide against the phantoms of subscription fraud, ensuring that the digital future of telecommunications is one of seamless connectivity, financial stability, and peace of mind.

About Signzy

Signzy is a market-leading platform redefining the speed, accuracy, and experience of how financial institutions are onboarding customers and businesses – using the digital medium. The company’s award-winning no-code GO platform delivers seamless, end-to-end, and multi-channel onboarding journeys while offering customizable workflows. In addition, it gives these players access to an aggregated marketplace of 240+ bespoke APIs, easily added to any workflow with simple widgets.

Signzy is enabling ten million+ end customer and business onboarding every month at a success rate of 99% while reducing the speed to market from 6 months to 3-4 weeks. It works with over 240+ FIs globally, including the 4 largest banks in India, a Top 3 acquiring Bank in the US, and has a robust global partnership with Mastercard and Microsoft. The company’s product team is based out of Bengaluru and has a strong presence in Mumbai, New York, and Dubai.

Visit www.signzy.com for more information about us.
Contact us directly!

E-Stamping

Traditional Stamping vs E-Stamping

The stamp, once a ubiquitous symbol of officialdom, is facing a modern challenge: the rise of eStamping. This digital revolution in document authentication offers convenience and security in stark contrast to the traditional methods of physically procuring and affixing stamps. But is eStamping truly the vanguard, or does the old guard of paper and ink still hold its ground? Let’s delve into a comparative analysis, weighing the pros and cons of each approach.

Traditional Stamping Methods

For centuries, physical stamps have been the trusted guardians of document integrity. Their tangible presence, with embossed seals and watermarks, offered a sense of security and tamper-proof validation. The process is familiar: visit a stamp vendor, purchase the required denomination based on document value, and meticulously affix the stamp. While this method is deeply ingrained in legal and financial systems, it comes with its own set of pros and cons.

Pros:

Tangible evidence: Physical stamps offer a tangible element, providing a sense of security and ease of verification for some users.

Accessibility: Traditional stamps are readily available in most locations. This makes them accessible even in areas with limited internet connectivity.

Familiarity: The method is well-understood by older generations accustomed to paper-based transactions.

Cons:

Time-consuming: Acquiring stamp paper, calculating stamp duty, and affixing stamps can be time-consuming, especially for complex documents.

Prone to errors: Manual calculations and affixing stamps leave room for human error, potentially invalidating documents.

Security concerns: Counterfeiting and forgery of physical stamps pose security risks, raising concerns about document authenticity.

Environmental impact: Paper production and transportation associated with physical stamps contribute to environmental degradation.

E-Stamping

eStamping, on the other hand, leverages the power of the internet to revolutionize document authentication. Instead of physical stamps, documents are electronically stamped through secure online platforms. The process involves selecting the required denomination, paying electronically, and downloading a digital stamp certificate. This certificate is then embedded within the document, ensuring its authenticity and validity.

Pros:

Convenience: eStamping can be done anytime, anywhere, from the comfort of one’s home or office.

Speed and efficiency: The process is significantly faster, generating eStamp certificates in minutes compared to the hours or days it can take with physical stamps.

Security: eStamp certificates are encrypted and tamper-proof, minimizing the risk of fraud and forgery.

Transparency and auditability: The entire eStamping process is digitally recorded and easily traceable, enhancing transparency and accountability.

Environmental benefits: eStamping eliminates the need for paper production and transportation, contributing to a more sustainable future.

Cons:

Digital dependence: Users require internet access and basic computer literacy to utilize eStamping platforms.

Initial learning curve: Familiarity with the eStamping process may require initial training or support, particularly for non-tech-savvy users.

Potential technical glitches: While rare, technical issues with eStamping platforms could temporarily disrupt document validation.

The adoption of eStamping is rapidly gaining momentum. In India, for instance, eStamping has witnessed a remarkable rise since its implementation in 2011. Statistics reveal that in 2022-23, over 85% of stamp duty collections were through eStamping, showcasing its growing popularity and efficiency.

Furthermore, the Indian government estimates that eStamping has saved over Rs. 10,000 crores in printing costs and revenue leakage since its inception. This translates to significant financial savings for the government and a more efficient allocation of resources.

The Path Forward

While eStamping offers undeniable advantages, it’s important to recognize that traditional stamping methods still hold value. For certain documents like wills and powers of attorney, physical stamps might be preferred for evidentiary purposes. Additionally, rural areas with limited internet connectivity might still rely on physical stamps for convenience.

Therefore, the future of document authentication likely lies in a hybrid approach. eStamping will undoubtedly become the dominant form for its efficiency and security benefits, but physical stamps might still play a role in specific cases.

Conclusion

The battle between eStamping and traditional methods is not a winner-take-all scenario. Both approaches offer unique advantages and cater to different needs. The key takeaway is that the digital revolution is transforming document authentication, and eStamping is leading the charge with its promise of convenience, security, and efficiency. Traditional stamping methods, though time-tested, need to adapt to the changing landscape to remain relevant and accessible. By striking a balance between the two, we can ensure that stamping remains a reliable and accessible component of modern life.

About Signzy

Signzy is a market-leading platform redefining the speed, accuracy, and experience of how financial institutions are onboarding customers and businesses – using the digital medium. The company’s award-winning no-code GO platform delivers seamless, end-to-end, and multi-channel onboarding journeys while offering customizable workflows. In addition, it gives these players access to an aggregated marketplace of 240+ bespoke APIs, easily added to any workflow with simple widgets.

Signzy is enabling ten million+ end customer and business onboarding every month at a success rate of 99% while reducing the speed to market from 6 months to 3-4 weeks. It works with over 240+ FIs globally, including the 4 largest banks in India, a Top 3 acquiring Bank in the US, and has a robust global partnership with Mastercard and Microsoft. The company’s product team is based out of Bengaluru and has a strong presence in Mumbai, New York, and Dubai.

Visit www.signzy.com for more information about us.
Contact us directly!

Telecommunication Fraud

Telecommunication Fraud: The Top 10

Telecommunication fraud in India is a growing concern, with sophisticated scams targeting both providers and consumers. These deceptive practices range from illegal SIM swaps to intricate phishing schemes, costing the economy and individuals significantly. As digital adoption accelerates, so does the urgency for robust fraud detection and prevention measures.

India’s booming telecom sector, with its vast and tech-savvy user base, unfortunately attracts not just legitimate businesses but also cunning fraudsters. These digital demons prey on vulnerabilities in the system, costing telecom companies billions and leaving users bewildered and out of pocket.

Today, we shine a light on the top 10 telecommunication frauds plaguing India, equipping you with the knowledge to outsmart the tricksters and safeguard your mobile experience.

International Revenue Sharing Fraud (IRSF): The most persistent type of Telecommunication fraud!

In IRSF, fraudsters lease premium-rate phone numbers designed to charge high rates for calls. They then illegally access a company’s phone system to call these numbers, racking up large charges that the company unknowingly pays. A portion of these charges is kicked back to the fraudsters. It’s a significant issue for telecom companies because it can lead to enormous unexpected bills and there’s little regulation to help victims recover the costs.

Interconnect Bypass Fraud (SIM Box Fraud):

This occurs when fraudsters use a device called a SIM box to redirect international calls through a different route that costs less. The call is still billed at the higher international rate, but the fraudster only pays a lower cost, keeping the difference. This not only cheats telecom operators out of revenue but often results in poorer call quality for unsuspecting customers.

Telecom Arbitrage Fraud:

Arbitrage fraud in telecommunication exploits the price discrepancies in international call rates. Fraudulent operators act as middlemen, rerouting calls through countries with cheaper rates while charging the original higher rates. They profit from the difference, and this type of fraud can be difficult to trace due to the complex nature of international telecom networks.

PBX Hacking:

Private Branch Exchange (PBX) systems, which many businesses use for their internal phone networks, can be vulnerable to hacking. Fraudsters exploit weak security to gain access and make long-distance or premium-rate calls at the business’s expense. The hacking often goes unnoticed until the business receives an unusually high phone bill.

Traffic Pumping (Access Stimulation):

Local phone companies in rural areas sometimes inflate the volume of incoming calls to their networks. This is to take advantage of the compensation fees they’re entitled to from larger telecom companies. It’s a legal loophole that allows them to claim more money under the guise of increased traffic.

Deposit Fraud:

Deposit fraud is essentially credit card fraud targeting telecom operators’ online stores. Fraudsters use stolen credit card details to purchase prepaid SIM cards or devices. When the actual cardholder disputes the charge, the telecom company must issue a refund, which adds to their losses.

Subscription Fraud – One of the common Telecommunication Frauds

Here, criminals use stolen identities to sign up for phone contracts to get high-end smartphones, which they then unlock and sell. They manage to bypass the Know Your Customer (KYC) checks with fake or stolen IDs, and by the time the fraud is discovered, the fraudster has disappeared with the device.

Account Takeover (ATO):

ATO fraud involves criminals gaining access to existing customer accounts by stealing or guessing login credentials. They can then make unauthorized changes or purchases. This type of fraud is costly to resolve and can severely damage a company’s reputation.

Smishing/SMS Phishing:

Scammers use SMS phishing to trick individuals into revealing personal information by sending deceptive text messages. They often use sophisticated techniques to avoid detection and may even operate illegal marketplaces to sell the data they collect.

SIM Jacking and SIM Swapping:

This fraud involves transferring a victim’s phone number to a new SIM card that the criminal controls. They can intercept text messages and calls, including those containing one-time passwords or two-factor authentication codes, to gain access to the victim’s other accounts and services.

Combating Telecommunication Fraud with Signzy

In the telecom industry, fraudsters often use complex schemes to conceal their identities, utilizing stolen personal information and employing a myriad of strategies to obscure their true intentions. Whether interacting with online shoppers or local carriers, the challenge remains the same.

Signzy offers a solution that allows telecom businesses to thoroughly understand their customers with minimal hassle. Our solutions are designed to provide deep insights into user identities, streamlining the verification process while maintaining user convenience.

About Signzy

Signzy is a market-leading platform redefining the speed, accuracy, and experience of how financial institutions are onboarding customers and businesses – using the digital medium. The company’s award-winning no-code GO platform delivers seamless, end-to-end, and multi-channel onboarding journeys while offering customizable workflows. In addition, it gives these players access to an aggregated marketplace of 240+ bespoke APIs, easily added to any workflow with simple widgets.

Signzy is enabling ten million+ end customer and business onboarding every month at a success rate of 99% while reducing the speed to market from 6 months to 3-4 weeks. It works with over 240+ FIs globally, including the 4 largest banks in India, a Top 3 acquiring Bank in the US, and has a robust global partnership with Mastercard and Microsoft. The company’s product team is based out of Bengaluru and has a strong presence in Mumbai, New York, and Dubai.

Visit www.signzy.com for more information about us.
Contact us directly!

DSC Token Signing and Aadhaar eSign

Difference between DSC Token Signing and Aadhaar eSign

Two prominent methods for digital authentication in India are Digital Signature Certificate (DSC) Token Signing and Aadhaar eSign. According to data from the Controller of Certifying Authorities (CCA) in India, the issuance of Digital Signature Certificates (DSCs) has been steadily increasing over the years. In the fiscal year 2020-21, over 24 million DSCs were issued, reflecting the growing demand. Aadhaar eSign on the other hand, has experienced remarkable growth since its inception. More than 125 million Aadhaar eSign transactions were reported in the year 2020-21, according to the Unique Identification Authority of India (UIDAI). This statistic highlights the widespread use of Aadhaar-based authentication for various purposes. 

While both serve the common goal of validating electronic documents and transactions, they differ significantly in their technical underpinnings, functionalities, use cases, and regulatory frameworks. In this article, we will delve into the nuances of DSC Token Signing and Aadhaar eSign, highlighting their unique features and how they cater to diverse digital authentication needs.

Technical and Functional Differences

DSC Token Signing

DSC Token Signing relies on a Digital Signature Certificate issued by a Certifying Authority (CA) in compliance with the Indian Information Technology Act, 2000. This method uses a cryptographic key pair – a private key held by the signatory and a public key stored in the DSC. When the signatory wishes to sign a document digitally, they use their private key to create a unique digital signature. The recipient can verify the signature’s authenticity using the corresponding public key.

Aadhaar eSign

Aadhaar eSign, on the other hand, leverages the Aadhaar ecosystem, India’s unique identity system, for digital authentication. This method allows individuals to electronically sign documents using their Aadhaar number and biometric authentication (fingerprint or iris scan). The process involves sending a One-Time Password (OTP) to the registered mobile number linked to the Aadhaar, which is then used to sign the document.

Top Unique Features

DSC Token Signing:

High Level of Security: DSC Token Signing offers a robust security framework, making it ideal for critical and sensitive transactions. The private key used for signing is securely stored in a hardware token or smart card, adding an extra layer of protection.

Legal Validity: Documents signed using DSC Token Signing are legally recognized in India, ensuring their enforceability in courts of law. This feature is crucial in the context of legal contracts and financial transactions.

Aadhaar eSign:

Ease of Use: Aadhaar eSign is incredibly user-friendly, requiring only a mobile number and biometric authentication. This simplicity promotes its adoption among a diverse population, including those with limited technical expertise.

Widespread Accessibility: With over a billion Aadhaar numbers issued, Aadhaar eSign has the potential to reach a massive user base, making it suitable for applications that require broad public participation.

Use Cases

DSC Token Signing:

Banking and Financial Transactions: Many banks and financial institutions employ DSC Token Signing for secure online transactions, loan approvals, and investment-related processes.

SBI, one of India’s largest banks, has implemented DSC Token Signing for various purposes, including secure online transactions and document verification. By incorporating DSC Token Signing into their digital banking platform, SBI has been able to provide customers with a high level of security and confidence in their online banking transactions. This implementation has contributed to a significant reduction in fraud and unauthorized access to customer accounts.

Aadhaar eSign:

eKYC and Onboarding: Telecom companies, banks, and fintech firms utilize Aadhaar eSign for customer onboarding and eKYC processes, streamlining customer registration and identity verification.

HDFC Bank, one of India’s largest private sector banks, has integrated Aadhaar eSign into its customer onboarding and account activation processes. This implementation allows HDFC Bank to onboard customers swiftly by verifying their identities using Aadhaar-based eKYC. Customers can digitally sign account opening forms, making the process faster and more convenient.

Conclusion

In the fast-evolving landscape of digital authentication in India, the implementation of DSC Token Signing and Aadhaar eSign by banks and financial institutions has made significant strides in enhancing security, efficiency, and accessibility in financial transactions. These methods cater to diverse needs, from secure document signing to streamlined customer onboarding.

As technology continues to advance, organizations must stay abreast of the latest authentication solutions to meet the ever-growing demands of their customers. One such solution worth exploring is Signzy’s Aadhaar E-Sign API.

Signzy’s Aadhaar E-Sign offers a robust and user-friendly platform for implementing Aadhaar-based electronic signatures. With Signzy’s technology, banks and financial institutions can simplify customer onboarding, streamline document verification, and ensure compliance with regulatory requirements. This API empowers organizations to exploit the full potential of Aadhaar eSign for a seamless and secure digital experience.

About Signzy

Signzy is a market-leading platform redefining the speed, accuracy, and experience of how financial institutions are onboarding customers and businesses – using the digital medium. The company’s award-winning no-code GO platform delivers seamless, end-to-end, and multi-channel onboarding journeys while offering customizable workflows. In addition, it gives these players access to an aggregated marketplace of 240+ bespoke APIs, easily added to any workflow with simple widgets.

Signzy is enabling ten million+ end customer and business onboarding every month at a success rate of 99% while reducing the speed to market from 6 months to 3-4 weeks. It works with over 240+ FIs globally, including the 4 largest banks in India, a Top 3 acquiring Bank in the US, and has a robust global partnership with Mastercard and Microsoft. The company’s product team is based out of Bengaluru and has a strong presence in Mumbai, New York, and Dubai.

Visit www.signzy.com for more information about us.
Contact us directly!

Transaction Monitoring

What is Transaction Monitoring in AML?

Transaction Monitoring in Anti-Money Laundering (AML) is a pivotal tool in the fight against financial crime. It involves scrutinizing financial transactions to detect suspicious activities indicative of money laundering. This process not only helps in identifying potential risks but also ensures compliance with increasingly stringent regulatory standards. Understanding its mechanisms and applications is crucial for maintaining the integrity of financial systems.

In today’s global financial landscape, the battle against financial crimes, particularly money laundering, is a top priority for governments, regulatory bodies, and financial institutions. According to the United Nations Office on Drugs and Crime (UNODC), the estimated amount of money laundered globally in one year is 2-5% of global GDP, which translates to $800 billion – $2 trillion. This statistic underscores the cruciality of Anti-Money Laundering (AML) measures. 

The Critical Role of Transaction Monitoring in AML

It is a fundamental component of AML efforts that aims to identify and investigate unusual or suspicious financial activities. Its primary role is to track financial transactions in real-time or retrospectively, analyze patterns, and flag potential red flags that could indicate money laundering, terrorist financing, or other illicit activities. Transaction monitoring acts as the eyes and ears of AML compliance programs, helping to maintain the integrity of the financial system.

Mechanisms of Transaction Monitoring

It relies on sophisticated algorithms and technology-driven processes to scrutinize vast amounts of financial data. Here’s how it works:

Data Collection: Transaction monitoring starts with the collection of transaction data from various sources, including banks, financial institutions, and other relevant entities. This data encompasses a wide range of financial activities, from wire transfers and cash deposits to credit card transactions.

Pattern Recognition: Advanced software is employed to analyze the collected data. These systems utilize predefined rules and algorithms to detect patterns that deviate from the norm. These patterns can include unusually large transactions, frequent international transfers, or transactions involving high-risk jurisdictions.

Alert Generation: When the monitoring system identifies a transaction that matches predefined suspicious patterns or criteria, it generates an alert. These alerts are sent to compliance officers for further investigation.

Investigation and Reporting: Compliance officers review the alerts generated by the system. They conduct in-depth investigations to determine whether the flagged transactions are indeed suspicious or potentially indicative of money laundering or other financial crimes. If warranted, they escalate the case for further action, including reporting to regulatory authorities.

Challenges in Transaction Monitoring:

While it is a powerful tool in the fight against money laundering, it is not without its challenges:

  • The sheer volume of financial transactions can be overwhelming. Monitoring systems must process and analyze massive datasets, which can be a resource-intensive task.
  • Transaction monitoring systems often generate false positives, flagging legitimate transactions as suspicious. This can lead to increased workload for compliance officers and potential delays in processing legitimate transactions.
  • Criminals are constantly evolving their money laundering tactics. They employ increasingly sophisticated methods to evade detection, making it challenging for transaction monitoring systems to keep up.
  • AML regulations are subject to change and vary from one jurisdiction to another. Compliance with these evolving regulations adds complexity to transaction monitoring.

Importance in Preventing Financial Crimes

Transaction monitoring plays a crucial role in preventing financial crimes, and its importance cannot be overstated:

  • Transaction monitoring helps detect unusual or suspicious activities that may be indicative of money laundering, terrorist financing, or other financial crimes. 
  • The knowledge that transactions are being actively monitored acts as a deterrent to would-be money launderers and criminals. The risk of being caught discourages illicit financial activities.
  • Financial institutions are legally obligated to comply with AML regulations. Effective transaction monitoring helps institutions fulfill their compliance obligations. This reduces the risk of regulatory penalties and reputational damage.
  • The Financial Action Task Force (FATF) states that transaction monitoring is a key component of a robust AML/CFT (Countering the Financing of Terrorism) regime and emphasizes its importance in mitigating financial crime risks.

Conclusion

Transaction monitoring is the vigilant guardian of the financial system. Its sophisticated mechanisms, fueled by advanced technology and intelligent algorithms, play a crucial role in identifying and preventing financial crimes like money laundering, terrorist financing, and fraud.

As statistics show, the global financial system is vulnerable to these crimes, with money laundering alone estimated to reach a staggering $1.6 trillion annually. This alarming trend underscores the critical need for robust transaction monitoring systems.

Signzy’s Data Breach API serves as a powerful shield in this fight. This innovative tool provides real-time insights into data breaches, enabling financial institutions to verify the integrity of customer information and identify potential threats. By integrating the Data Breach API into their transaction monitoring systems, institutions can identify compromised credentials, prevent fraudulent transactions, and enhance compliance. Protecting sensitive data is paramount in today’s digital landscape, and Signzy’s Data Breach API is your ally in this endeavor. 

About Signzy

Signzy is a market-leading platform redefining the speed, accuracy, and experience of how financial institutions are onboarding customers and businesses – using the digital medium. The company’s award-winning no-code GO platform delivers seamless, end-to-end, and multi-channel onboarding journeys while offering customizable workflows. In addition, it gives these players access to an aggregated marketplace of 240+ bespoke APIs, easily added to any workflow with simple widgets.

Signzy is enabling ten million+ end customer and business onboarding every month at a success rate of 99% while reducing the speed to market from 6 months to 3-4 weeks. It works with over 240+ FIs globally, including the 4 largest banks in India, a Top 3 acquiring Bank in the US, and has a robust global partnership with Mastercard and Microsoft. The company’s product team is based out of Bengaluru and has a strong presence in Mumbai, New York, and Dubai.

Visit www.signzy.com for more information about us.
Contact us directly!

E-Stamp Certificates

How To Verify E-Stamp Certificates Online

In an increasingly digital world, the verification of documents and certificates has transitioned from traditional methods to online platforms. One such document that has undergone this transformation is the e-Stamp certificate. E-Stamp certificates are digital documents issued by authorized authorities to represent the payment of stamp duty. These certificates contain electronically signed information, including the unique identification number (UIN), date of issuance, stamp duty value, document type, and other relevant details. Verifying the authenticity of these certificates ensures that the stamp duty has been paid correctly and the document is legally valid.

In this article, we will provide a step-by-step guide to verifying e-Stamp certificates online, and offer practical insights and tips for individuals and businesses to navigate this process efficiently. Let’s get started.

A step-by-step guide to verifying e-Stamp certificates online

Step 1: Identify the State

The first step involves identifying the state where the e-Stamp certificate was issued. Different states in India have different e-stamping websites and verification procedures. Some common e-Stamping websites include:

Step 2: Locate the Verification Section

Once you are on the e-Stamp certificate verification portal, locate the section or tab dedicated to e-Stamp certificate verification. It is usually prominently displayed on the homepage or listed in the main menu for easy access.

Step 3: Enter the Certificate Details

The specific details required for verification may vary slightly between different states. However, some common information you will need to enter includes:

  • State: Select the state where the e-Stamp certificate was issued.
  • Certificate Number (UIN): This is the unique identification number printed on the e-Stamp certificate.
  • Stamp Duty Type: Select the type of document for which the e-Stamp was used.
  • Certificate Issue Date: Enter the date on which the e-Stamp certificate was issued.
  • Verification Code: Some websites may require you to enter a verification code displayed on the screen.

Make sure you enter these details accurately to avoid any discrepancies during the verification process.

Step 4: Submit the Request

After entering the required certificate details, click on the “Submit” or “Verify” button, depending on the terminology used on the portal. This action will initiate the verification process.

Step 5: Review the Verification Result

The website will display the verification results, indicating whether the e-Stamp certificate is valid or not.  The results typically include information like the UIN, stamp duty value, document type, and the issuing authority. 

Tips and Insights for Efficient E-Stamp Certificate Verification:

  • Make sure you enter the certificate details accurately. Even minor errors in the certificate number or other information can lead to verification issues.
  • Download the e-Stamping mobile app. Many e-stamping authorities offer mobile apps that facilitate convenient certificate verification on the go.
  • It’s advisable to keep a record of the verified e-Stamp certificates for future reference. This can be especially useful for businesses and individuals who frequently deal with e-stamping.
  • Don’t delay the verification process. It’s essential to verify e-Stamp certificates promptly to ensure their authenticity before proceeding with any legal or financial transactions.
  • If you encounter any issues during the verification process or if a certificate is not verified, don’t hesitate to reach out to the customer support provided on the portal or the relevant government authority for assistance.

Verifying e-Stamp certificates online is a crucial step to ensure their authenticity and prevent fraud. By following the step-by-step guide provided in this article and adhering to the practical insights and tips, individuals and businesses can navigate the e-Stamp certificate verification process efficiently. As the use of e-stamping continues to grow, understanding and practicing these verification procedures becomes increasingly important for ensuring secure and transparent transactions.

One such reliable solution is Signy’s E-Stamping. This API plays a crucial role in simplifying and enhancing the e-stamping process. Signy’s E-Stamping API offers an innovative and user-friendly platform for e-Stamping, making it easier than ever to ensure the authenticity of your certificates. By incorporating Signy’s advanced technology into your e-stamping workflow, you can streamline the verification process, reduce the risk of errors, and promote secure transactions.

About Signzy

Signzy is a market-leading platform redefining the speed, accuracy, and experience of how financial institutions are onboarding customers and businesses – using the digital medium. The company’s award-winning no-code GO platform delivers seamless, end-to-end, and multi-channel onboarding journeys while offering customizable workflows. In addition, it gives these players access to an aggregated marketplace of 240+ bespoke APIs, easily added to any workflow with simple widgets.

Signzy is enabling ten million+ end customer and business onboarding every month at a success rate of 99% while reducing the speed to market from 6 months to 3-4 weeks. It works with over 240+ FIs globally, including the 4 largest banks in India, a Top 3 acquiring Bank in the US, and has a robust global partnership with Mastercard and Microsoft. The company’s product team is based out of Bengaluru and has a strong presence in Mumbai, New York, and Dubai.

Visit www.signzy.com for more information about us.
Contact us directly!

The Telecommunications Act 2023

The Telecommunications Act 2023

The Indian telecommunications landscape recently witnessed a seismic shift with the passing of the Telecommunications Act 2023. This sweeping legislation promises drastic changes, and one aspect garnering immense attention is the mandatory KYC for all communication channels, including WhatsApp, Gmail, and Slack. But what does this truly mean for India’s digital future? Let’s dive into the Act’s implications and explore its potential impact on various stakeholders.

The KYC Conundrum

The Act mandates user verification via KYC (Know Your Customer) processes for all telecommunication services, encompassing not just traditional phone calls and SMS but also internet-based platforms like messaging apps, email, and even video conferencing tools. This move stems from the government’s aim to curb spam, fraud, and misuse of communication channels.

Potential Benefits:

  • Enhanced Security: Verified users could reduce the spread of misinformation and fake news, leading to a safer online environment.
  • Curbing Crime: KYC might deter criminal activities like cyberbullying, harassment, and financial scams facilitated through anonymous communication channels.
  • Better Targeting: Businesses could benefit from personalized marketing and service delivery by having access to verified user data.

Challenges and Concerns:

  • Privacy Infringement: Critics argue that mandatory KYC intrudes on user privacy, potentially enabling mass surveillance and stifling open dialogue.
  • Technical Hurdles: Implementing KYC across diverse platforms with varied user bases poses significant technical challenges and requires robust data privacy safeguards.
  • Digital Divide: Access to KYC infrastructure and resources may disproportionately impact rural and low-income populations, exacerbating the digital divide.

Shaping the Future

The Telecommunications Act 2023 undoubtedly introduces a paradigm shift in India’s digital landscape. While the intended benefits of curbing illegal activities and enhancing security are laudable, addressing privacy concerns and ensuring equitable access to KYC infrastructure remain crucial challenges. The Act’s success will hinge on its implementation, with transparency, robust data protection measures, and user-centric policies being paramount.

Impact on Specifics:

  • Messaging Apps: Platforms like WhatsApp might need to integrate a government-approved KYC process, potentially impacting user experience and encryption protocols.
  • Email & Online Platforms: Similar verification processes could be implemented for email accounts and online platforms, necessitating user data sharing with telecom service providers.
  • Innovation & Competition: The new regulations might pose additional hurdles for smaller platforms and startups, potentially impacting the innovation and competition landscape.

The Telecommunications Act 2023, with its expansive definition of telecommunication services, has undoubtedly sparked some important discussions. While concerns regarding scope and regulatory burden are valid, it’s also crucial to acknowledge the positive potential this Act holds for India’s booming digital landscape.

First, let’s acknowledge the Act’s ambition. Encompassing diverse communication channels ensures no technology escapes regulation, safeguarding users and ensuring responsible use. This broad scope empowers the government to proactively address emerging challenges in a constantly evolving digital space.

Furthermore, the mandatory authorization requirement, often viewed as overly cautious, can be reframed as a catalyst for standardization and quality control. By streamlining entry into the telecom ecosystem, the Act paves the way for reliable and secure services for all users.

Yes, challenges exist. Potential regulatory overlap with existing laws like the IT Act needs careful consideration to avoid burdening businesses and fostering a climate of innovation. However, the Act’s flexibility through exemptions in Section 3(3) offers opportunities for targeted regulation, adapting to specific scenarios while preventing unnecessary hurdles for emerging technologies.

The anxieties surrounding potential stifled innovation are important, but perhaps misplaced. By establishing a clear and comprehensive regulatory framework, the Act can actually nurture confidence and attract investment, ultimately benefitting the ecosystem. With defined rules of the game, businesses can focus on developing cutting-edge technologies without navigating ambiguities.

The Telecommunications Act, 2023 acknowledges the dependency of digital services on the telecommunications sector, by explicitly highlighting that the latter is a gateway to the former. By doing so, the Bill openly distinguishes between online and telecom services.

Section 3 (7) – Any authorized entity which provides such telecommunication services as may be notified by the Central Government, shall identify the person to whom it provides telecommunication services through use of any verifiable biometric based identification as may be prescribed.

Section 3(7) of the Telecommunications Act 2023 outlines a proactive approach to user identification, mandating verifiable biometric-based identification for certain services. While this provision has stirred debate, it’s worth considering its potential benefits:

Enhanced Trust and Security:

  • Combating Fraud and Misuse: By linking individuals to their telecom accounts through biometrics, the Act aims to significantly reduce fraudulent activities, impersonation, and unauthorized access, fostering a more secure and trustworthy digital environment.
  • Preventing Malicious Activity: Biometric verification can act as a powerful deterrent against online abuse, cyberbullying, and the spread of misinformation, contributing to a safer and more responsible digital space for all users.

Streamlining User Experiences:

  • Simplified Authentication: Biometric identification offers a seamless and convenient way for users to authenticate themselves across various platforms and services, potentially reducing reliance on passwords and PINs, which can be forgotten or compromised.
  • Personalized Services: Verified user identities could enable telecom service providers to offer more tailored and relevant services, enhancing user experiences and satisfaction.

Regulatory Compliance and Data Protection:

  • Addressing Evolving Threats: The Act’s biometric requirement aligns with global trends in digital identity management, recognizing the need for robust measures to combat increasingly sophisticated cyber threats and protect user data.
  • Data Protection Framework: The Digital Personal Data Protection Act 2023 provides a strong foundation for safeguarding sensitive biometric data, ensuring its responsible collection, storage, and usage by authorized entities.

While balancing privacy concerns is crucial, the Act’s focus on secure identification demonstrates a commitment to fostering a trusted and secure digital landscape in India. It’s important to note that the Supreme Court’s rulings on Aadhaar and privacy remain guiding principles, and the Act’s implementation will likely prioritize user consent and data protection safeguards

Finally, let’s not forget the Act’s potential to empower smaller players. Streamlined authorization processes and standardized regulations can pave the way for greater competition and inclusivity.

Moving Forward

The Telecommunications Act 2023 presents both opportunities and challenges for India’s digital future. Balancing security concerns with user privacy, ensuring inclusive access, and fostering a healthy innovation ecosystem will be crucial as India navigates this evolving landscape. Open dialogue, transparent implementation, and user-centricity will be key in shaping a robust and inclusive digital future for all Indians.

Your Turn

This Act’s implications are far-reaching and multifaceted. What are your thoughts on the mandatory KYC provision? Do you see it as a positive step towards a safer online environment or a potential threat to user privacy? Share your opinions and join the conversation!

About Signzy

Signzy is a market-leading platform redefining the speed, accuracy, and experience of how financial institutions are onboarding customers and businesses – using the digital medium. The company’s award-winning no-code GO platform delivers seamless, end-to-end, and multi-channel onboarding journeys while offering customizable workflows. In addition, it gives these players access to an aggregated marketplace of 240+ bespoke APIs, easily added to any workflow with simple widgets.

Signzy is enabling ten million+ end customer and business onboarding every month at a success rate of 99% while reducing the speed to market from 6 months to 3-4 weeks. It works with over 240+ FIs globally, including the 4 largest banks in India, a Top 3 acquiring Bank in the US, and has a robust global partnership with Mastercard and Microsoft. The company’s product team is based out of Bengaluru and has a strong presence in Mumbai, New York, and Dubai.

Visit www.signzy.com for more information about us.
Contact us directly!

GST Data

Unlock the Power of GST Data with Signzy’s API

Remember the pre-GST era, when securing a business loan felt like scaling Mount Everest – arduous, paper-laden, and often ending in disappointment? Thankfully, those days are gone. The Goods and Services Tax (GST) revolutionized not just tax compliance, but also unveiled a new frontier of faster, more accessible business financing through the power of GST data.

And here’s where Signzy’s game-changing API comes in.

Think of it as your digital sherpa, guiding you effortlessly through the GST data landscape and extracting valuable insights for seamless loan approvals. No more mountains of paperwork, no more endless calculations – just real-time access to a borrower’s financial health with their consent through their GST returns.

Signzy’s API empowers you to:

  • Automate Loan Assessment: Ditch the paper chase and embrace automation. Access and analyze GST data instantly, eliminating manual crunching of numbers and subjective interpretations. Loan approvals become faster, simpler, and more data-driven.
  • Unlock Faster Financing: Say goodbye to lengthy loan waiting periods. The real-time insights extracted from GST data allow for expedite loan approvals, ensuring you get the capital you need when you need it most.
  • Unleash Trade Financing for MSMEs: The detailed trail of transactions in GST returns becomes your passport to trade financing. Smaller businesses can now secure loans against invoices, opening up new avenues for growth and expansion.
  • Reduce Costs and Streamline Operations: Minimize paperwork and operational overhead with Signzy’s API. This translates to lower costs for both lenders and borrowers, fostering a healthier and more efficient lending ecosystem.
  • Offer Personalized Loan Solutions: Gaining a deeper understanding of a borrower’s financial profile through GST data allows you to create customized loan offers with competitive interest rates tailored to their specific needs.

Beyond Speed: Empowering Loan Management & Risk Analysis

The benefits of Signzy’s API extend far beyond loan origination. Here’s how it equips loan managers and risk analysts with powerful tools:

  • Accelerate Loan Approvals: The GST Compliance Score, a real-time indicator of a taxpayer’s compliance record provided by Signzy’s API, becomes your secret weapon for lightning-fast loan approvals.
  • Proactively Manage Risk: Monitor portfolio health effectively with the score acting as an early warning signal for potential NPAs. Identify potential risks at every stage of the loan lifecycle and take proactive measures to mitigate them.
  • Gain Deeper Insights: Go beyond the Compliance Score. Signzy’s API unlocks a wealth of other GST data points like sales, purchases, and supplier relationships, giving you a multi-dimensional view of a business’s financial health and operational dynamics. This empowers you to make informed lending decisions and optimize risk management strategies.

Challenges & the Path Forward

Data security and potential misuse remain legitimate concerns. Signzy prioritizes data security with robust encryption protocols and secure data handling practices, fostering trust and transparency. Additionally, relying solely on GST data might disadvantage smaller businesses struggling with initial compliance. A balanced approach, considering other factors alongside GST data, ensures responsible lending and avoids skewing the playing field.

The Future of Lending is GST-Powered

The GST system has emerged as a game-changer for business financing. By leveraging Signzy’s API, you can tap into this vast data reservoir and streamline your loan application process, access faster financing, and gain valuable insights for robust risk management. 

Conquer the GST Loan Frontier with Signzy

While data security remains a valid concern, Signzy prioritizes user trust with robust encryption protocols and secure data handling practices. Additionally, Signzy advocates for a balanced approach that considers other factors alongside GST data to ensure responsible lending and avoid skewing the playing field.

Don’t let pre-GST loan anxieties hold you back. Embrace the GST data revolution with Signzy’s API as your guide. Experience faster approvals, deeper insights, and a smoother loan journey for your business.

About Signzy

Signzy is a market-leading platform redefining the speed, accuracy, and experience of how financial institutions are onboarding customers and businesses – using the digital medium. The company’s award-winning no-code GO platform delivers seamless, end-to-end, and multi-channel onboarding journeys while offering customizable workflows. In addition, it gives these players access to an aggregated marketplace of 240+ bespoke APIs, easily added to any workflow with simple widgets.

Signzy is enabling ten million+ end customer and business onboarding every month at a success rate of 99% while reducing the speed to market from 6 months to 3-4 weeks. It works with over 240+ FIs globally, including the 4 largest banks in India, a Top 3 acquiring Bank in the US, and has a robust global partnership with Mastercard and Microsoft. The company’s product team is based out of Bengaluru and has a strong presence in Mumbai, New York, and Dubai.

Visit www.signzy.com for more information about us.
Contact us directly!

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