How INDmoney accelerated user onboarding with Setu's eSign & eStamp solution
About INDmoney
INDmoney is India's leading investment platform, built for the next wave of retail investors. With a mission to democratize investing for millions of Indians, INDmoney focuses on delivering seamless, technology-driven financial services that make investing accessible and effortless. As India's investment landscape exploded with growing demand and supportive policy frameworks, INDmoney recognized that building the right onboarding experience would be crucial to capturing this massive opportunity.
Challenges
eSign Integration Complexity
INDmoney faced significant technical challenges when implementing eSign for user onboarding:
Multiple vendor integrations: Direct integration with eSign providers (NSDL, CDSL, eMudhra) required maintaining separate tech stacks for each vendor.
Infrastructure overhead: Managing fallback systems and orchestration increased technical debt substantially.
Poor user experience: Native eSign pages from traditional providers featured outdated UI/UX that confused users and hurt conversions.
Engineering bandwidth: Building and maintaining the entire eSign infrastructure in-house would've consumed months of development time.
DDPI Implementation Hurdles
Enabling seamless trading through DDPI (Demat Debit and Pledge Instruction) presented operational nightmares:
Manual stamp paper procurement: No vendor provided direct digital stamp paper access.
Complex inventory management: Physical procurement, scanning, certificate tracking, and inventory management created operational bottlenecks.
Fragmented systems: Separate modules for stamp procurement, inventory management, and eSign processes led to workflow inefficiencies.
Compliance complexity: Ensuring end-to-end compliance while maintaining user experience standards.
The Solution
eSign for User Onboarding
Setu's eSign solution addressed INDmoney's core challenges through:
Single API Implementation:
Instead of managing multiple vendor integrations, INDmoney implemented Setu's unified API that handled all backend orchestration automatically.
Complete UI Customization:
Setu enabled INDmoney to customize every aspect of the eSign journey with their branding, colors, and user experience design.
Seamless User Journey:
Users remained within INDmoney's interface throughout the entire eSign process, maintaining brand consistency and user trust.
Discover how INDmoney successfully scaled a seamless and compliant onboarding journey in collaboration with us.
The impact
Faster journey
15% reduction in average eSign completion time
Conversion
5% improvement in eSign conversion rates
Faster time-to-market
Features that would have taken months of engineering bandwidth were launched in weeks
Reduced technical debt
Single API implementation eliminated the need to maintain multiple vendor integrations and fallback systems
Improved user experience
Customized, branded eSign flows maintained user trust and reduced drop-offs
Operational Efficiency
End-to-end automation of DDPI processes eliminated manual interventions and compliance headaches
"We saw a 15% reduction in average eSign completion time and a 5% delta in eSign conversion - not just better numbers, but real signs that more users were getting through the door faster and with greater confidence."
— Ritwik Roy, Director (Product)
Partnership Excellence
Unmatched support
P0 Environment Support: Immediate assistance for critical issues.
Lightning-Fast Resolution: All issues typically resolved in under 60 minutes.
24/7 Availability: Round-the-clock support ensuring minimal business disruptions.
Technical Reliability
Seamless Orchestration Automatic failover between eSign providers during downtime.
Consistent Performance: Defined turnaround times for all processes.
Compliance Management: End-to-end compliance handling without compromising user experience.
Looking Forward
The successful implementation of Setu's eSign and eStamp solutions has positioned INDmoney to scale rapidly while maintaining excellent user experience standards. By eliminating technical complexity and operational overhead, INDmoney can focus on their core mission of democratizing investing for India's growing retail investor base.
"That orchestration became one of the biggest enablers for us. It was seamless on our side. We were able to deliver a smooth and trustworthy experience that met every compliance requirement to our users, end to end."
— Ritwik Roy, Director (Product)
The partnership demonstrates how the right technology partner can transform complex regulatory requirements into competitive advantages, enabling fintech companies to scale efficiently while delivering superior user experiences.
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