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/