Bengaluru-based leading fintech startup firm, Signzy has announced its collaboration with a reputed global Blockchain company, Primechain Technologies.

The highly-anticipated partnership will work to frame out an AI-centered smart banking solution to cater to the requirements of the banking industry and financial institutions. Based on the news, the companies aim to launch the first pre-integrated module of the advanced framework by December 2019. By doing so, it promises to bring the digital transformation of the banking sector and financial institutions at a speedy pace not just in India but around the globe.

Signzy and Primechain Technologies’ upcoming banking solution will be a unique amalgamation of AI and blockchain technology that will help to make the back-office work fully digital and automated. The banking sector will benefit with an increase in efficiencies of work clubbed, with the delivery of high-quality customer satisfaction in its wide array of domains, namely- Loans, insurance, and retail banking.

Ankit Ratan, co-founder, and CEO of Signzy said:

This partnership combines our respective leadership in Artificial Intelligence and blockchain-based digitalization technologies targeted at the BFSI industry. Together, we aim to develop and launch integrated solutions that can radically transform the way banks and NBFCs operate and serve their customers.

The notable founder and CEO of Primechain Technologies quoted:

Banks and NBFCs today have at least a thousand discrete back-office processes, which explains why digitization and automation of the back-office haven’t yet picked up. Primechain and Signzy’s smart banking solution is being developed precisely to solve this problem through a plug-and-play product. We are very excited with the capabilities of this solution and believe it will significantly speed

About Signzy and Primechain Technologies:

Signzy, founded in 2015, was a joint brainwork of Ankit Ratan, Ankur Pandey, and Arpit Ratan. It is a popular RegTech firm that offers digitalized and automated solutions to the banking and financial institutions. It renders e-verification and risk projection using AI and blockchain technology. Some of the notable clients of Signzy include Mastercard, ICICI Bank, State Bank Of India, and Mahindra Finance, etc.

Primechain Technologies, domiciled in Pune, was founded by Shinam Arora in 2016. It shines as a global blockchain firm that also controls the BankChain community of banking space. BankChain is a community of banks formulated in February 2017 to exploit, develop, and employ decentralized solutions.

Primechain Technologies facilitates discounting of invoice and debt instruments through Primechain-Money. Also, Primechain API allows developers to employ blockchain network to their code at a fast pace.