Info-tech

Syntizen in talks with States for subsidy management, Aadhaar masking tool

V Rishi Kumar Hyderabad | Updated on November 19, 2019 Published on November 19, 2019

Syntizen, a Business to Business digital identity management products and solutions company, is in talks with several State Governments to offer its subsidy management system and Aadhaar masking solution.

The Hyderabad-based company, founded in 2014, has already provided its SMS (subsidy management system) to the Telangana and Uttar Pradesh Governments and is engaged in talks to offer these services to other States.

Founded by Siddharth Kukatlapalli, Vamsi Kotte and Dinesh Desu, it has had investments from MasterCard International, and ACPL, a leading biometric device provider, and it works primarily on the Aadhaar ecosytem and has developed three major product lines.

Siddharn Kukatlapalli, Founder of Syntizen said, “We work primarily with both governments and private sector companies offering a range of customised Aadhaar services such as eKYC, authentication, e-sign, Aadhaar-based attendance system.”

“Apart from State Governments, where we help them manage subsidy schemes, we work with MasterCard, NBFCs, Muthoot Fincorp and Mannapuram Finance, housing finance companies such as Shriram Housing and India Shelters, insurance providers such as Aviva, and stock brokers Motilal Oswal and Angel Broking,” he said.

“Our solutions help these companies introduce various initiatives such as three minute Goad Loans, Trade in an Hour, Instant Bank Accounts, Instant Housing Loans among others,” he told Business Line.

“We are 100-employee strong and have thus far processed over 29 million authentic transactions and nearly four million e-KYC transactions. Our technology platform has the capability to process over two crore transactions per hour. These solutions have potential to be used in other countries as well,” he said.

The Supreme Court in its judgement on Aadhaar in September 2018 had directed that the Aadhaar number has to be blacked out or redacted. Following this RBI, IRDAI and SEBI have issued circulars to redact or blackout the first eight digits of Aadhaar number before storing them in any form.

“We have developed a machine learning power Aadhaar masking tool which helps organisations to mask Aadhaar number. This solution has been offered to stockbrokers, insurance services providers, housing finance corporations and other fintech companies. We see this offering has immense potential,” he said.

Published on November 19, 2019
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