In our latest podcast, recorded late last summer, Shompa Choudhury (WG ’20) is joined by Arpit Ratan, Co-Founder and Head of Business Development of Signzy (https://signzy.com/). Signzy is a FinTech startup offering digital onboarding solutions to enable secure digital compliance via artificial intelligence and blockchain. In this interview, Arpit explains how he chose to embark on a career in FinTech after studying and practicing the law. India’s ever-growing FinTech landscape features a plethora of players – from incumbents to digital players to the government. With Signzy’s role as a data and technology-based enabler for financial services, Arpit provides valuable insights into the dynamics between various players as well as the role of data and regulations in the future of Indian FinTech. Amidst the economic and social challenges that have arisen from the current crisis, it has become even more important to evaluate how data and technology can enable various FinTech players without sacrificing the security of customers.

Established in 2015, Signzy aims to build a global digital trust system with three components: (1) the ability to uniquely identify and authenticate entities, (2) the ability to access background information on these entities, and (3) the establishment of a system of rewards and punishments to reinforce trust. Today, Signzy offers a digital on-boarding solution for banks, NBFCs and other financial institutions. While most banking services in India are transitioning to digital, regulatory compliance remains largely offline and hampers consumer experience. Changing consumer preferences demand a shift to digital regulatory processes (including KYC or Know-Your-Customer), however moving to digital can expose higher risks. Signzy believes that through a combination of artificial intelligence and blockchain, they can ensure that digital compliance is convenient yet secure.

Arpit studied and practiced law before founding this startup with his brother – and has ever since embarked on the journey to make digital financial services more secure and accessible through what he calls a global digital trust system. He co-founded Signzy in 2015 with his brother Ankit, who is currently the Head of Product. Along with the various accolades that Signzy has received for its innovative approach to solving regulation with data, Arpit himself has been recognized as Forbes 30 Under 30.