Edelweiss Asset Management Company, one of the fastest growing AMCs, today announced that it has partnered with India’s leading RegTech startup (which manages regulatory processes in the BFSI sector through technology) Signzy for digital customer onboarding and a faster verification process on its investment platform.
Under this partnership, Signzy’s AI-led e-KYC solution has been deployed to allow all new Edelweiss customers to conduct seamless digital KYC, biometric enabled digital contracts and due diligence through Algorithmic Risk Intelligence for their mutual fund investments.
Ankit Ratan, co-founder of Signzy, says, “We are thrilled to be chosen by Edelweiss to support their new customer onboarding using Signzy’s industry-leading e-KYC solution. For the BFSI industry, new customer onboarding can involve significant time and cost expenditure. Our e-KYC solution is designed to mitigate these costs while simultaneously delivering much superior customer experience, which allows our clients to grow their business through frictionless new customer onboarding.”
Radhika Gupta, CEO, Edelweiss Asset Management, said, “Despite heightened interest from investors who are new to Mutual Funds, the cumbersome offline process of KYC becomes a barrier in on-boarding potential investors. Signzy’s eKYC solution and our digital processes overcomes this challenge, it helps investors to complete their KYC online and immediately invest in our Mutual Funds from comfort of their home. This facility offers new investors a platform with compliant processes, quick on-boarding and a happy investing experience; thereby also significantly reducing our costs.”
The partnership with Singzy will also help Edelweiss AMC to reach a wider set of customers because of its ease of access to the mutual fund platform, and work towards deepening the market for mutual funds in India.
About Signzy Mumbai-based Signzy is a leading provider of AI-based digitalization and automation solutions to the BFSI industry and counts globally leading banks and NBFCs (Non-Banking Financial Companies) as its clients, including Mastercard, ICICI Bank, State Bank of India and many more.
About Edelweiss Asset Management Limited (EAML): EAML is amongst the fastest growing asset management companies, being an asset management subsidiary of Edelweiss Financial Services Ltd., one of India’s leading financial services group since last 21 years with a proven track record of quality and innovation. EAML has witnessed growth of over 46% in Average Assets under Management (AAUM) in last one year.