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Signzy and Primechain Technologies partner to develop AI-led smart banking solutions


PUNE: RegTech startup Signzy said it had partnered with blockchain startup, Primechain Technologies, to co-develop artificial intelligence-based solutions for banks and financial institutions. The first pre-integrated solution is expected to be launched by December 2019 and will help fast-track the digital transformation of banks and financial institutions in India and around the world.

The solution would integrate AI and blockchain 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. Together, we aim to develop and launch integrated solutions that can radically transform the way banks and NBFCs operate and serve their customers,” said Ankit Ratan, CEO, Signzy.

Digitising back-office operations is among the most complicated process fir banks, said the companies in a statement. This solution would allow banks to achieve a higher level of efficiency in operations and simultaneously deliver a better customer experience across a range of products.

Shinam Arora, CEO, Primechain Technologies said, “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.”

Signzy currently provides AI based digitization and automation solutions to the BFSI industry, while Primechain is a global blockchain startup and operates the BankChain community of banks for implementing blockchain solutions, with 37 members.





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