Agami Prize
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Signzy

Ensuring trust in digital financial and legal transactions

Signzy is building a suite of tools to ensure trust in the legal, financial, and regulatory processes essential to the future of enterprises. This suite enables secure digital onboarding and ongoing participation for customers using the latest technologies including Artificial Intelligence and blockchain.

The debate around Aadhaar and the rapid incidence of digital fraud and hacking have made it clear that as the world moves online, India faces grave risks related to the security of digital identities, information, and transactions. Banking, finance, and property transactions, cannot happen seamlessly without mechanisms that ensure trust. In effect, we cannot experience the benefits of a fully digital world unless we have mitigated security and privacy risks.

Signzy seeks to solve critical trust issues for all key stakeholders in the financial and commercial domains: Digital verification enhances the customer experience and protects user privacy; Artificial Intelligence-assisted on-boarding provides real-time checks and balances for documents / data; analyses of traditional and non-traditional data sources - social media, news, court cases, etc., flag risks; and Blockchain creates a complete digital trail of an individual / company’s identity, background information, and online transactions.

The impact of Signzy’s work is to create opportunity, convenience and cost-saving at a huge scale by creating trust at all levels:

  • Consumers have a secure and easy process to enter into a relationship or transaction and avail services.

  • Enterprises and banks can safely sign up small merchants without the fear of fraud or manipulation.

  • SMEs anywhere can quickly sign up for enterprise services without tedious onboarding processes.

  • Stakeholders can operate in the system with the confidence that manipulation and fraud will be picked up and dealt with effectively.

  • Credibility established in one system can be used to participate in another system through blockchain credentials.

All three founders have worked on their own startups earlier. Ankit Ratan, the C.E.O., graduated from I.I.T., Delhi and has 6+ years’ experience in Data Sciences, working with financial institutions in the U.S. and India. Ankur Pandey, the C.T.O., graduated from I.I.T., Kharagpur and has over three years’ experience in cognitive systems. The third co-founder, Arpit Ratan, graduated from I.L.S., Pune and has six years’ experience in financial regulations, including the legal aspects of m-wallets and payment gateways. The founding team was listed in the ‘30 under 30’ by Forbes.

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