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We have updated our terms and conditions and privacy policy Click "Continue" to accept and continue with ET BFSI ACCEPT THE UPDATED PRIVACY & COOKIE POLICY Dear user, ET BFSI privacy and cookie policy has been updated to align with the new data regulations in European Union. Please review and accept these changes below to continue using the website. You can see our privacy policy & our cookie policy. We use cookies to ensure the best experience for you on our website. If you choose to ignore this message, we'll assume that you are happy to receive all cookies on ET BFSI. * Analytics * Necessary * Newsletter NameProviderExpiryTypePurpose Google AnalyticsGoogle1 YearHTTPSTo track visitors to the site, their origin & behaviour.iBeat AnalyticsIbeat1 YearHTTPSTo track article's statisticsGrowthRx AnalyticsGrowthRx1 YearHTTPSTo track visitors to the site and their behaviour NameProviderExpiryTypePurpose optoutTimes Internet1 YearHTTPSStores the user's cookie consent state for the current domainPHPSESSIDTimes Internet1 dayHTTPSStores user's preferencesaccessCodeTimes Internet2.5 HoursHTTPSTo serve content relevant to a regionpfuuidTimes Internet1 YearHTTPSUniquely identify each userOSTIDTimes Internet1 YearHTTPSOauth secure tokenOSSOIDTimes Internet1 YearHTTPSOauth user identifierOSTPID Times Internet1 YearHTTPSused to sync accross portalsfpidTimes Internet1 YearHTTPSBrowser Fingerprinting to uniquely identify client browsers NamePurpose Daily NewsletterReceive daily list of important newsPromo MailersReceive information about events, industry, etc. I've read & accepted the terms and conditions NEWS SITES * Auto News * Retail News * Health News * Telecom News * Energy News * CIO News * Real Estate News * Brand Equity * CFO News * IT Security News * Government News * Hospitality News * HR News * Legal News * ET TravelWorld News * Infra News * B2B News * CIOSEA News * HRSEA News * HRME News Upcoming Event: CFO Meet & discussion on Revised Companies Act Sign in/Sign up * Follow us: * * * * * * * ETBFSI Exclusive * BANKING * INSURANCE * InsurTech * NBFC * FINTECH * Payments * Digital Lending * RegTech * Open API * BFSI Videos * Editor's View * Brand Solutions * ETBFSI AWARDS 2022 * ETBFSI CXO CONCLAVE Connecting Financial Institutions Digitally * LAY THE GROUNDWORK TO ACCELERATE BANKING INNOVATION * ETBFSI FINNEXT SUMMIT The Future of NBFCs and FinTechs * SIDBI-ET MSMES/STARTUPS Roudtable Discussion * REIMAGINE NEXT * LEARNFEST * REIMAGINE NEXT - THE FUTURE OF LEARNING * ETBFSI.COM CONVERGE BFSI: The world of Hyper-personalization * ETBFSI EXCELLENCE AWARDS 2021 AWARDS FOR EXCELLENCE IN INNOVATION * FUTURE READY SECURITY FOR DIGITAL-FIRST BFSI * 3RD EDITION OF ETBFSI CXO CONCLAVE Unlocking the BFSI Potential * THE DIGITAL NEXT: SERIES 2.1 Live Virtual Summit * JOIN THE ECONOMIC TIMES FINANCIAL INCLUSION SUMMIT 2021 * 2ND EDITION OF ETBFSI VIRTUAL SUMMIT 2021 * ET BANKING LEADERSHIP SERIES PRESENTED BY MANIPAL ACADEMY * Millennial Finance * FinTech Diary * BFSI Tech Tales * Green Finance * IBC * ETBFSI Explains * BFSI Movement * More * Blogs * Innovation Masters * POLICY * FINANCIAL SERVICES x * BFSI News * Latest BFSI News * Fintech EXCLUSIVE DIGITAL BANKING INFRASTRUCTURE PROVIDER SIGNZY RAISE RS 210 CRORE IN FUNDING LED BY GAJA CAPITAL Signzy, founded in 2015, provides a digital software platform to help fintechs, financial institutions and banks with multi-channel on-boarding, as well as automates back-office operations through artificial intelligence. * ETtech * September 26, 2022, 08:00 IST * * * * * * * * Digital banking infrastructure provider Signzy has raised Rs 210 crore (or $26 million) from investors led by Gaja Capital to support its expansion plan. Existing investors Vertex Ventures and Arkam Ventures also participated in the round, Bengaluru-based Signzy said. The company said it will use the fund to bolster its existing product line and drive adoption of its platform across banking and financial services clients. Signzy, founded in 2015, provides a digital software platform to help fintechs, financial institutions and banks with multi-channel on-boarding, as well as automates back-office operations through artificial intelligence. The company’s no-code platform ‘Go’ also provides access to an aggregated marketplace of over 240 application programming interface (APIs), helping partner financial institutions with operations such as video know-your-customer (KYC) verification, credit checks, asset authentication and loan collections. “Signzy has seen strong adoption of its no-code product by financial services companies as they start on their once-in-a-lifetime digital transformation journey,” said Ankit Ratan, the company’s cofounder and chief executive officer. “The solution has been developed from the ground up to allow banks and financial services providers to roll out and offer fintech-like user experiences in a matter of days, not months or years. We are also thrilled that Gaja Capital has come on board in support of our vision.” Signzy claims it assists its clients with over 10 million customer and business on-boardings every month. The startup works with over 240 financial institutions globally including the four largest banks in India. “The team at Signzy has really impressed us with their no-code digitalisation platform for the financial services industry, which we believe is the first-of-its-kind anywhere in the world and solves real pain points for their customers,” said Gopal Jain, managing partner, Gaja Capital. “Their technology has been enabling banks to undergo rapid transformation without changing the underlying legacy systems.” Signzy also has a partnership with Mastercard and Microsoft. In January this year, financial infrastructure provider M2P Fintech had raised $56 million led by New York-based global private equity firm Insight Partners. The round also saw participation from MUFG Innovation Partner and the company’s existing investors Tiger Global and Better Capital. M2P provides API infrastructure that enables businesses of any scale to embed financial products across segments of payments, lending and digital banking. Follow and connect with us on Twitter, Facebook, Linkedin, Youtube Fintech vertex signzy raised rs 210 crore signzy funding signzy expansion plan signzy gaja capital Read on App Read on App PEOPLE WHO READ THIS ALSO READ * How Web3 is set to revolutionise lending, skip banks * ‘India has already crossed ambitious 10-trillion mark in digital economy’: Exec Dir, RBI * Third party repossession is legal, says industry expert on Mahindra Finance recovery issue * With FinTechs backing in full force, e-commerce eyes $12 bln revenue this festive season SUBSCRIBE TO OUR NEWSLETTER 50000+ Industry Leaders read it everyday I have read Privacy Policy and Terms & Conditions and agree to receive newsletters and other communications on this email ID. FINTECH * 2 hrs ago FINTECH TO FUEL MSME GROWTH AND STEER INDIA TO 5-TRILLION DOLLAR ECONOMY * 1 day ago ED FREEZES CRYPTO CURRENCY, TETHER WORTH RS 47.64 LAKH * 2 days ago MANY MORE APPS TO JOIN ONDC PLATFORM IN COMING WEEKS * 2 days ago DESPITE WIPING OUT 70% VALUE FROM IPO PRICE, JP MORGAN SEE 60% UPSIDE IN PAYTM View More EDITOR'S PICK * 2 hrs ago FINTECH TO FUEL MSME GROWTH AND STEER INDIA TO 5-TRILLION DOLLAR ECONOMY * 3 hrs ago HOW EMBEDDED FINANCE IS SET TO SPUR FINANCIAL INCLUSION * 3 hrs ago MPC’S 4TH HIKE IN ROW AMID GLOBAL RECESSION FEAR; IMPLICATIONS AND WAY FORWARD * 1 day ago WHY BFSI MUST RELY ON CLOUD TO SURVIVE AND THRIVE IN A DYNAMIC LANDSCAPE * 1 day ago THE UPI WAY: CARDLESS CASH WITHDRAWAL AT ATMS BFSI VIDEOS * DIGITAL TOOLS FOSTERING CREDIT ACCESS FOR SMES: SIDBI CMD “Access to credit for SMEs is getting solved through digital tools and we have already seen the adoption by all banks based on the JAM trinity. This has led to an explosion in FinTechs working with banks, and a lot of that is actually directed to how finance or credit can reach SMEs. So, we have finally reached a point ready for takeoff,” said S Ramann, CMD, SIDBI at the fourth edition of ETBFSI CXO Conclave 2022. Highlighting SIDBI's role of being at the forefront with banks apart from just being a direct lender to businesses Ramann said, "Our real hope as SIDBI is that we should be at the forefront with the banks, helping them make this transition in whatever way we can and that's what SIDBI's role is, apart from being a direct lender to the SMEs, the idea is to build the ecosystem." He spoke on various interesting topics like SIDBI's role in digital transition in the lending business, credit access to small businesses, and digital credit mechanisms for underwriting among others. * 4 days ago INDIA IS NO EXCEPTION TO INFLATIONARY TENDENCIES BUT HAS MANAGED WELL: SOUTH INDIAN BANK CEO * 5 days ago BENIGN INFLATION AND INTEREST RATES IDEAL FOR BANKS TO THRIVE: NITESH RANJAN, ED, UNION BANK * 18 days ago ETBFSI FINTECH DIARY WITH SASHANK RISHYASRINGA, CO-FOUNDER AND MD, AXIO (FORMERLY CAPITAL FLOAT) View More EXCLUSIVE INDIAN FINTECH MARKET TO RECORD ‘10 TIMES’ GROWTH; ACHIEVE $1TN IN AUM, $200BN IN REVENUE BY 2030 India is now being recognized as one of the largest FinTech unicorn ecosystems, home to 21 FinTech Unicorns as of March 2022. * ETBFSI Click Here to Read This Story * * * * * * * * Indian Fintech market is expected to record a 10 times growth to achieve $1Tn in Assets Under Management (AUM) and $200Bn in revenue, said the report titled ‘$1 Tn India FinTech Opportunity'. The report released by Chiratae Ventures in collaboration with Ernest and Young (EY), highlighted that much of the growth will be driven by the digital lending market, which is expected to grow to $515 Bn in book size by 2030. The market is expected to reach $1Tn in AUM with contribution from lending to be highest at 50%+, while from a revenue standpoint payments and lending make 75%+ of the pool, the report highlighted. India is now being recognized as one of the largest FinTech unicorn ecosystems, home to 21 FinTech Unicorns as of March 2022. An organic and collaborative ecosystem is driving this growth, which is being supported by key government initiatives, such as Digital India, Smart City, the development of UPI, and other initiatives. Payments, Digital Lending, WealthTech, InsurTech, and Neo-banking will all be contributing to growth in the FinTech space with Agri+FinTech and Prop+FinTech considered to be big bets. Tailwinds due to favorable demographics, growing technology adoption, higher disposable incomes, and aware customer are further fuelling this growth. Fintechs have been innovating in product and delivery to cater to the evolving needs of the customers. The report also highlights that Buy Now Pay Later has become mainstream and is on an accelerated growth trajectory, emerging strong not only in B2C but also in the B2B payments space. On the launch of the report Sudhir Sethi, Founder, and Chairperson, Chiratae Ventures said, “The Indian Fintech market has been a formidable global force, contributing to the largest share of unicorns in India. We have been a technology-first investor believing in the power of both data and technology and hence have backed companies such as EarlySalary, Kristal.ai, PB Fintech, ShopSe, and Vayana amongst others” Co-lending to emerge as a preferred model that supports lending partners in mitigating their risk exposure. New asset classes, Crypto & NFT will also continue to attract investor interest as fintech continues to solve for traditionally underserved customers. Technology-based Innovation on the underwriting side of the insurance value chain will help deliver solutions for the highly unpenetrated market at affordable rates. “FinTechs have innovated for the underserved financial markets through a strong and supportive ecosystem, which will continue to keep accelerating growth and penetration of Fintech in India. These include fast-growing digital adoption and mobile penetration on the back of the cheapest data rates in the world offered by private telecom players, to enabling regulatory environment coupled with world-leading digital infrastructure (Aadhar, UPI, BBPS etc.), and structural reforms and initiatives (GST, TReDSetc.),” said TC Meenakshi Sundaram, Co-Founder and Vice Chairperson, Chiratae Ventures. “We also expect FinTechs to continue solving for the substantial and growing sub-markets with novel solutions,” he added. With 5X growth in the digital tech talent, India has the opportunity to address the global digital skill gap and establish itself as the destination of digital and tech talent. “India is recognized as a strong FinTech hub globally and is increasingly becoming a talent destination for fintech businesses. We are glad to partner with Chiratae Ventures and delve into the emerging trends in regulatory innovation, technology advancements, new business models, industry convergence, and inclusive digital financial services in the Indian fintech space,” said Rajiv Memani, Chairman and Managing Partner, EY India. The report also highlighted that the regulatory support will enable the industry further as already established models go international through collaborations. The actively encouraging innovation through regulatory sandboxes, new distribution models, and the launch of innovative products has provided a good regulatory environment. Follow and connect with us on Twitter, Facebook, Linkedin, Youtube Fintech wealthtech fintech unicorns digital lending digital india chiratae ventures Read on App Read on App * Industry News * Auto News * Retail News * Health News * Telecom News * Energy News * CIO News * Real Estate News * Brand Equity * CFO News * IT Security News * Government News * Hospitality News * HR News * Legal News * ET TravelWorld News * Infra News * B2B News * CIOSEA News * HRSEA News * HRME News * CONTACT US ADVERTISE WITH US We have various options to advertise with us including Events, Advertorials, Banners, Mailers, Webinars etc. Please contact us to know more details. * SIGN UP FOR ETBFSI NEWSLETTER Get ETBFSI's top stories every morning in your email inbox. 50000+ Industry Leaders read it everyday I have read Privacy Policy and Terms & Conditions and agree to receive newsletters and other communications on this email ID. * FOLLOW US @ETBFSI Follow @ETBFSI for the latest news, insider access to events and more. * * * * * * About Us * Contact Us * Advertise with us * Newsletter * RSS Feeds * Embed ETBFSI.com Widgets on your Website * Privacy Policy * Terms & Conditions * Guest-Post Guidelines * Sitemap Copyright © 2022 ETBFSI.com. 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