digitap

digitap is a comprehensive, AI-driven API platform designed to empower banks, FinTech companies, and other financial institutions. It provides a suite of cutting-edge Software-as-a-Service (SaaS) solutions that leverage Artificial Intelligence and Machine Learning to streamline critical financial operations. The platform's core mission is to simplify complex processes, enhance risk management, and enable businesses to scale efficiently. From seamless digital customer onboarding to sophisticated creditworthiness analysis, digitap offers an integrated ecosystem of tools to accelerate growth and improve customer satisfaction.

The platform is built for scalability and reliability, trusted by leading companies like BharatPe and Faircent. It focuses on delivering high-speed, accurate, and cost-effective solutions that can be quickly integrated into existing workflows, allowing financial institutions to launch new products and services faster and with greater confidence.

How to use digitap

digitap operates as a B2B API and SDK provider. The integration process is designed to be straightforward for financial institutions:

1. Schedule a Demo: Interested businesses start by contacting the digitap sales team to schedule a demonstration. This session helps in understanding the specific needs of the business and how digitap's solutions can be tailored to meet them.
2. API Integration: Once a partnership is established, the client's development team gains access to digitap's robust APIs and SDKs. A dedicated project team from digitap assists with the integration process, ensuring a smooth and fast setup within the client's existing applications (web or mobile).
3. Configuration: Clients can configure the specific modules they require, such as setting parameters for KYC verification, choosing data points for credit scoring models, or connecting to the Account Aggregator network.
4. Go Live: After successful integration and testing, the solution goes live. When an end-user interacts with the client's application (e.g., for opening an account or applying for a loan), it makes API calls to digitap to perform the necessary functions in real-time.
5. Receive Results: digitap's platform processes the request and returns structured data and insights (e.g., verification status, credit score, risk analysis) to the client's system, enabling automated and informed decision-making.

Core Features of digitap

• Onboarding Suite: An end-to-end solution for digital customer onboarding. This includes Digital KYC, Optical Character Recognition (OCR) for extracting data from government documents, document validation, liveness detection, and a fully compliant Video KYC module.
• Alternate Data Suite: Advanced solutions to assess the creditworthiness of customers, especially those with thin or no credit files. It analyzes various alternative data sources like bank statements, device data, e-commerce activity, social media data, and telecom data to generate a comprehensive risk profile.
• TSP for Account Aggregator: As a certified Technology Service Provider (TSP), digitap provides a ready-to-use Financial Information User (FIU) module. This allows clients to seamlessly integrate with India's Account Aggregator ecosystem to access consented financial data for streamlined credit underwriting.
• Expense Manager SDK: A software development kit that can be embedded into a client's app. It automatically accesses and categorizes a customer's expenses, providing personalized financial insights. This not only enhances user engagement but also helps identify contextual opportunities for cross-selling financial products.
• Automated Risk Management: The platform features advanced, automated scorecards for better risk evaluation, helping financial institutions make more accurate lending decisions and manage portfolio risk effectively.

Use Cases for digitap

digitap is ideal for various players in the financial services industry:

• Digital Banks and Neobanks: For implementing a fully digital, instant, and paperless account opening process.
• Lending Platforms and FinTechs: To automate the entire loan lifecycle, from application and KYC to credit risk assessment using alternative data, enabling faster loan disbursal.
• Traditional Banks and Financial Institutions: To digitize their legacy processes, reduce operational costs, and improve efficiency in customer onboarding and credit evaluation.
• Insurance Companies: For remote customer due diligence, identity verification, and fraud prevention.

Advantages of digitap

digitap provides a significant competitive edge through:

• Speed and Efficiency: Drastically reduces turnaround times for customer onboarding and loan approvals from days to minutes.
• Cost-Effectiveness: Automates manual processes, leading to significant reductions in operational costs and improving the bottom line.
• Enhanced Accuracy: AI/ML models minimize human error in data verification and risk assessment, leading to better decision-making.
• Scalability: The infrastructure is designed to handle massive volumes, allowing businesses to scale from thousands to millions of customers seamlessly.
• Financial Inclusion: By leveraging alternative data, digitap enables institutions to extend credit to unbanked and underbanked populations.
• Fast Integration: API-first approach and dedicated support ensure quick and hassle-free integration with client systems.

Pricing and Plans

digitap's pricing is tailored to the specific needs of each business. As a B2B enterprise solution, it does not offer standard public pricing plans. Interested parties are encouraged to schedule a demo to discuss their requirements. A custom quote is then provided based on the selected modules, API call volume, and level of support required.