- The MSME sector contributed over 30% to India’s GDP in FY 2022-23, making it one of the largest customer segments for financial services.
- MSMEs often have mismatched documentation across PAN, Udyam, and GST systems. Manual verification of these records creates bottlenecks and compliance risks.
- SMEs often have mismatched documentation across PAN, Udyam, and GST systems. Manual verification of these records creates bottlenecks and compliance risks.
We need to talk about something that’s been bugging us for years – and it’s hitting everyone trying to serve MSMEs.
Every day, we see financial institutions getting absolutely crushed by MSME onboarding processes that were clearly designed by people who have never actually dealt with Indian business complexity.
You know the drill – proprietor submits documents with different business names across registrations, phone number links to multiple enterprises, your KYC team can’t figure out which entity they’re actually onboarding, compliance nightmare begins…
That’s literally why we built what we built. We’re Signzy, and we’ve spent the last few years obsessing over one question: What if onboarding MSMEs was… normal?
Turns out, we found some answers.
First, here’s why you should believe us when we say we’ve fixed this.
Why Signzy Understands MSME Onboarding Better Than Anyone
Look, we could tell you we’re experts, but numbers don’t lie. Here’s what we’ve actually done:
- 10 million+ customer onboardings monthly – Including tons of MSMEs for our banking and fintech clients who trust us with their most complex verification challenges.
- 99% success rate across all onboarding types – When your clients’ businesses depend on getting customers onboarded fast, you can’t afford the industry standard of “it usually works.”
- Selected by RBI for regulatory sandbox – The central bank picked us to test unassisted video KYC because our approach actually meets their compliance standards.
- Trusted by India’s four largest banks – Plus 540+ other financial institutions who’ve ditched their old onboarding processes for our platform.
- 8+ years solving Indian onboarding problems – We’ve seen every possible way verification can break, and we’ve built APIs to fix most of them.
- Built specifically for Indian business complexity – While others try to adapt global solutions, we designed everything around Udyam, GST, PAN linkages, and the Indian businesses.
All these successful onboardings happened because we first had to understand exactly what wasn’t working. And trust us, the problems run deeper than most people realize.
So What’s Actually Broken
The problem isn’t that MSMEs are “difficult customers” – it’s that small business registration creates these weird identity puzzles that nobody talks about.
For example, why does the same business owner have three different name variations across their documents? Why are phone numbers shared between family businesses? Why does every proprietorship seem to exist in some parallel documentation universe where nothing matches anything else?
There’s no playbook for this stuff because every MSME is broken in its own special way. That’s why we had to build everything from the ground-up.
Signzy’s MSME Onboarding Solution Stack
We’ve built actual APIs that are already working for 100s of financial institutions to solve those pain points.
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Udyam Verification API
Skip the manual portal searches that slow down your team. Verify any Udyam registration in seconds. Get instant confirmation whether an MSME is legitimately registered and currently active.
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Phone-to-Udyam Lookup
Ever had customers apply with a phone number that’s somehow connected to five different businesses? This API shows you every enterprise linked to a contact number upfront, so there’s no confusion about which business they’re actually registering.
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Udyam Premium
Why make two separate API calls when you can get business validation and owner details in one go? Speeds up your KYC process by connecting registration data to actual ownership without extra steps.
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FSSAI Verification
Food businesses need valid FSSAI licenses. Instead of manually checking certificates, verify any license number instantly across all Indian states. Works for restaurants, manufacturers, distributors – any food-related MSME.
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SNEC Fetch API
Verify business establishment details and check if registrations are still valid. Helps you stay compliant by confirming the business is properly registered and hasn’t expired without manual documentation reviews.
Start Improving Your MSME Onboarding Today
The APIs are live. You can test individual endpoints or integrate the full stack – most clients start with Udyam verification since it handles the biggest bottleneck, then add other pieces based on their workflow needs.
Implementation is straightforward with our API documentation and integration support. Whether you want to automate just the verification steps or build complete MSME onboarding flows, everything is designed to work with your existing systems.
If you want to see how this works with your actual use cases, we can show you. Grab a demo slot here and we’ll walk through it with your real MSME applications.
FAQs
How accurate is the Udyam verification API?
99.3% success rate with real-time connection to official government databases. Failed verifications are usually due to invalid/non-existent Udyam numbers.
Can I verify multiple MSMEs at once?
Yes, all APIs support bulk verification. You can process hundreds of Udyam numbers simultaneously through batch requests.
What happens if an MSME's Udyam registration is inactive?
The API returns the status as “Inactive” along with all available registration details. You can decide your onboarding policy based on this status.
What compliance standards do these APIs meet?
All APIs comply with RBI guidelines, data protection norms, and regulatory requirements for financial institutions operating in India.
