Bengaluru-based Signzy has reportedly entered into a partnership with Primechain Technologies, the blockchain company.
Signzy is a RegTech startup providing ensuring financial services can easily comply with financial regulations. The company founded in 2015 has now teamed up with Primechain Technologies to co-develop artificial intelligence-based solutions to the woes of banks and other financial institutions.
The two enterprises are especially looking into how to automate and fully-digitize back office operations.
“This partnership combines our respective leadership in artificial intelligence and blockchain-based digitalization technologies targeted at the BFSI industry,” Ankit Ratan, CEO at Signzy told the Economic Times. “Together, we aim to develop and launch integrated solutions that can radically transform the way banks and NBFCs operate and serve their customers.”
Shinam Arora, CEO of Primechain Technologies, added, “Banks and NBFCs today have at least a thousand discrete back-office processes, which explains why digitization and automation of the back-office hasn’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 up the digital journeys of banks.”
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