Mastering Merchant Onboarding - PowerPoint PPT Presentation

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Title:

Mastering Merchant Onboarding

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How a Point-Of-Sale Company in India Onboarding 50k+ Merchants in a Single Quarter Overview Traditionally onboarding has been a manual and time-consuming process involving paper applications and a long wait for approval. The Automated Mechanism allows the responsibility for initial data entry to be delegated to the merchant and eliminates manual procedures involved in the traditional onboarding process. Our Client, with a business of over US$218 billion and over 131 million customers, faced the same challenges as traditional and partial digital KYC. – PowerPoint PPT presentation

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Title: Mastering Merchant Onboarding


1
Mastering Merchant Onboarding
  • How a Point-Of-Sale Company in India Onboarding
    50k Merchants in a Single Quarter

2
Overview
  • Traditionally onboarding has been a manual and
    time-consuming process involving paper
    applications and a long wait for approval.
  • The Automated Mechanism allows the responsibility
    for initial data entry to be delegated to the
    merchant and eliminates manual procedures
    involved in the traditional on-boarding process.
  • Our Client, with a business of over US218
    billion and over 131 million customers, faced the
    same challenges as traditional and partial
    digital KYC.

3
Challenges
  • A complex and staggering onboarding process
  • Physical Impedances due to in-person verification
  • Not meeting regulations and compliance demands
  • Physical storage of documents and other materials
  • Frequent errors in the forms during the
    onboarding Longer turn-around-time (TAT)

4
Solutions Approach
  • The main objectives included Improving RAM
    efficiency, TAT, and decreasing costs Modules
  • Digitizing document capture and verification
  • Algorithmic Risk Assessment (ARI)
  • Digital Contract

5
Solutions Approach
  • Application Included
  • Easy Intuitive Digital Application Form
  • AI-based Digital KYC Verification
  • Backend Dashboard

6
Solutions Approach
  • Advance plug-and-play API Stack Included
  • Bank Account Verification API
  • Domain Verification API
  • GSTIN Search API with GST Fetch
  • ROC API- Detailed search by DIN
  • OVD Verification APIs for Aadhar, PAN, etc.
  • Search CIN API

7
Technology
  • The solution was compatible with multiple
    front-end platforms, including iOS, Windows,
    Android, macOS, etc., making it universally
    accessible. The Integration also created precise
    API usage for Relationship Managers(RMs) and
    back-end operators with seamless visualization.

8
Outcomes
  • A no-contact, inexpensive, swift system was
    created. Overall onboarding numbers were
    increased
  • Onboarding per month after implementation.

9
Outcomes
  • In total, the client was able to garner approx.
    50,000 onboardings!

10
Thank You
  • https//signzy.com/use-cases/payments/
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