Syntizen

Syntizen Technologies Private Limited operates as a B2B and B2G provider of digital identity and customer onboarding solutions, leveraging India's Aadhaar biometric identification system. The company was founded in Hyderabad, India, in 2014 by Siddharth Kukatlapalli, Vamsi Kotte, and Dinesh Desu. The founding idea was inspired by a co-founder's experience with hackable biometric attendance systems during his college years, leading to the development of more secure, Aadhaar-based solutions.

The firm was acquired by M2P Fintech, an API infrastructure company, in July 2022 to integrate Syntizen's identity verification stack with M2P's financial embedding products. Syntizen continues to operate under its own name, with the acquisition aimed at expanding its services globally into markets in the Middle East, North Africa, and Southeast Asia. Before the acquisition, Syntizen had raised an undisclosed pre-Series A funding amount in September 2019 from Mastercard and Access Computech Private Limited (ACPL) to strengthen its product offerings and expand operations.

Syntizen's core business involves providing a comprehensive technology suite that facilitates instant, paperless, and secure customer verification and onboarding. Its business model targets large, medium, and small enterprises in the Banking, Financial Services, and Insurance (BFSI) sector, as well as state governments in India. Revenue is generated on a fee-for-service and licensing basis, charging private sector clients per authentication and sharing revenue with public sector clients. The company's client portfolio includes major non-banking financial companies (NBFCs) like Muthoot Fincorp and Manappuram Finance, housing finance companies (HFCs) such as Shriram Housing, and stock brokerage firms like Motilal Oswal. It also serves the state governments of Telangana and Uttar Pradesh.

The product suite, offered as a Software-as-a-Service (SaaS), includes several key components. The Electronic Customer On-boarding System (e-COS) bundles features like e-KYC (Know Your Customer), PAN verification, electronic signatures (e-Sign), and e-NACH for recurring payments into a single platform. This enables clients to offer expedited services, such as '3-Minute Gold Loans' and 'Trade in an Hour'. Other solutions include Video KYC, Aadhaar Masking to protect privacy, a subsidy management system for governments, and a digital affiliation solution for universities, which has been implemented at Jawaharlal Nehru Technological University, Hyderabad.

Keywords: digital identity solutions, customer onboarding, e-KYC, Aadhaar authentication, fintech, identity verification, B2B, B2G, paperless verification, biometric solutions, SaaS, customer identification, PAN verification, electronic signature, API infrastructure, M2P Fintech, subsidy management, video KYC, Aadhaar masking, India