Signzy

About Signzy

Signzy Technologies, founded in 2015, operates as a digital banking infrastructure provider, specializing in creating a global digital trust system. The company was established by co-founders Ankit Ratan, his twin brother Arpit Ratan, and Ankur Pandey. The idea originated from Ankit's work on a Coursera project and his desire to digitize legal contracts, a concept he developed with Arpit, a lawyer, and Ankur, a fellow IIT graduate. Their collective expertise—Ankit in data analytics and fraud detection, Arpit in corporate law, and Ankur in technology and app development—formed the foundation of Signzy. The founders were motivated by their personal and professional experiences with the cumbersome, paper-based processes of financial institutions.

The firm primarily serves the Banking, Financial Services, and Insurance (BFSI) sector, assisting institutions in streamlining regulatory processes to make them simple and secure. Its clients include over 240 financial institutions globally, counting among them the four largest banks in India and a top-three acquiring bank in the US. Signzy's business model is centered on its no-code, AI-powered platform, "GO," which enables clients to automate and digitize workflows for customer onboarding, Know Your Customer (KYC), and Know Your Business (KYB) compliance. Revenue is generated through a Software-as-a-Service (SaaS) model, with subscription-based access and per-transaction fees for API usage.

Signzy's core product is a comprehensive platform that offers seamless, end-to-end solutions for digital onboarding and compliance. It provides access to a marketplace of over 240 APIs that can be integrated into a client's workflow to handle services like real-time identity verification, biometric authentication, background checks, and fraud detection. A key offering is its Video KYC solution, which is optimized for low-bandwidth conditions and features live photo capture, real-time face matching, and multilingual support. The platform leverages artificial intelligence, machine learning, and blockchain to automate processes, significantly reducing the time required for customer onboarding from months to a matter of days. In early 2024, Signzy acquired Difenz, a fraud risk management solutions provider, to enhance its capabilities in anti-money laundering (AML) screening and transaction monitoring.

Since its inception, the company has achieved significant milestones, including securing a total of $40 million in funding over seven rounds. Its latest Series B round in September 2022, led by Gaja Capital, raised $26 million. The company has been recognized with numerous awards from institutions like the Reserve Bank of India and has filed multiple patents in India and the US, including one for banking in the metaverse.