5 TSPs listed on Sahamati platform
Sahamati, a non-profit collective of Account Aggregator (AA) ecosystem has emerged as a game-changer in the fintech ecosystem. By facilitating seamless and secure exchange of financial data between different banks and fintech players, Sahamati is empowering customers to take control of their finances. It has also created a level playing field for fintech startups and other technology service providers to offer innovative solutions that were previously not possible due to the lack of access to financial data.
In this article, we will explore the top 5 technology service providers (TSPs) listed on Sahamati that are leveraging this platform to offer cutting-edge solutions to their customers. These companies are setting new benchmarks in terms of innovation, security, and customer experience, and are playing a key role in shaping the future of the fintech industry:
Digitap: Started in 2019, Bengaluru based startup empowers Financial Institutions (FI) through its extensive, alternate data based risk management stack and provides high tech advanced Artificial Intelligence (AI)/ Machine Learning (ML) solutions to new-age internet driven businesses for reliable, fast and 100% compliant Customer On boarding, Automated Risk Management along with Big Data enabled services like Risk Analytics and Customized Scorecards. As a listed TSP, the brand specializes in offering three key services:
- Analytics for automated credit underwriting, which can help businesses make better credit decisions
- Fraud detection services that specifically focus on identity fraud and document fraud
- User profiling services that can help businesses better understand their customers and tailor their services accordingly
IDfy: Started in 2011, the Mumbai based company builds technology solutions to help companies accurately identify people, run background checks, conduct KYC, mitigate lending risks, and onboard associates. Their mission is to deliver these solutions with zero friction for end users. As a TSP on Sahamati, it offers a range of services to help businesses with their customer and entity due diligence needs. These services include a no-code platform for seamless entity onboarding, Know Your Customer (KYC) & Know your Business (KYB) checks for customer and entity due diligence, identification document tampering checks, and video services for enabling KYC & lending due diligence. IDfy also provides risk estimation through email ID & mobile number checks, income verification through multiple checks, income estimation through bank statement analysis and alternative data analysis, and background checks enabling 360-degree risk profiling, while improving their customer onboarding and verification processes.
Karza Technologies: Founded in 2015, the Mumbai based brand serves the whole lending lifecycle, from onboarding to diligence & monitoring to collections, and is the largest provider of data, analytics, automation, and decisioning solutions to FIs. As a TSP, it provides varied services to help businesses with their credit appraisal and risk management needs. These services include GST analysis, SB bank statement analysis, current account statement analysis, credit reports, EDD & EWS checks, application risk scoring, ITR analytics for income tax, and automated credit appraisal memorandum generation. With these offerings, Karza Technologies can help businesses improve their credit decision-making processes by providing them with valuable insights into the financial health and creditworthiness of their customers.
Finbox: Started in 2017, this Bengaluru based startup aims at making it seamless for any business to provide tailored credit products to their customers and partners. The brand is building a state-of-the-art credit infrastructure that makes business easy and allows companies to focus on building the business while it takes care of the credit. As a TSP listed on Sahamati, it offers a range of services to help businesses streamline their lending processes and manage risk more effectively. These services include embedded finance infrastructure, workflow automation, and loan journey Software Development Kit (SDKs) to make the lending process more efficient. Fin box also offers a risk intelligence platform to help businesses make better credit decisions, and alternate data-based underwriting solutions that go beyond traditional credit scores to provide a more complete picture of a borrower’s creditworthiness.
Finacus Solutions Pvt. Ltd: Founded in 2007, this Mumbai based company is an ISO 9001 & 27001 certified organization delivering user-friendly yet cutting edge technology in Banking & Finance Sectors. It specializes in payment solutions having a competitive edge in bringing mobility to the payment system that enables banks to dish out personalized mobile experiences, cross vendor support services and self service ability. As a TSP listed on Sahamati, it provides a range of services to help businesses manage risk and streamline their operations. These services include bank statement analysis, AI/ML-enabled document data extraction, video-enabled KYC and customer engagement, customer onboarding, anti-money laundering solutions, credit rating for loans and advances, deposit and CASA analysis, customer segmentation and targeting, loan journey monitoring, and analytics of reports from enterprise systems.