Celusion Technologies: Offering ‘Unified Account Opening, Digital Lending System, Sales Force Automation, and Video KYC’ solutions to BFSI Sector

·2-min read

Founded in 2004 and based in Mumbai, Celusion Technologies is a software company that develops Enterprise Applications with cutting-edge technology. Sticking to its passion for technology, the company loves to tackle a challenge with its new-age technology while creating a seamless and secure experience for its clientele in the BFSI sector.

The software company equips banks, financial co-operations, stockbroking companies, insurance companies to transform their customer acquisition processes into a fully-digital channel augmented by real-time regulatory checks and artificial intelligence for fraud detection.

The core offerings include Unified Account Opening, Digital Lending System, Sales Force Automation, and Video KYC. Celusion Technologies connects direct customers, sales, operations, channel partners, and credit teams, hence reducing the time to onboard a customer with enhanced due diligence and credit decisions.

Unified Account Opening Unified Account Opening is a platform that digitally onboards customers with one smart form and instantly activates their Demat, trading, bank, loan or insurance accounts.

Before the pandemic, the process primarily involved a customer walk-in to the branch or a sales executive meeting with the customer for submitting the application form. Owing to the lockdown, financial enterprises were down to zero customer acquisitions. Celusion Technologies built features that allowed the complete account opening process to be contactless with the support from the directives issued by regulatory bodies. Some key features include video-based in-person verification, digital signatures, stakeholder collaboration and online payments. These features are enhanced with cognitive skills to detect liveliness, face match and identify documents. The advanced infrastructure has made it possible to onboard customers remotely through digital channels, without diluting the due diligence process.

Praveen Paulose, CEO and MD, Celusion Technologies added “Leveraging Regulatory and AI-based Fintech APIs for identity verification, bank account verification, credit scoring, and more, Celusion Technologies provides a hassle-free onboarding experience to its customers. This is not all, the platform can also help enterprises manage high volumes, for example, over 150,000 accounts per month (for a single corporation) have been opened at its peak, sixty per cent of which were in the last four days of the month.” Built with features that allowed the complete account opening process to be contactless, CelusionTechnologies has only grown with the support from the directives issued by regulatory bodies. Some key contactless features include video-based KYC and video-based in-person verification, authentication of identity cards with regulatory bodies, digital signatures, stakeholder collaboration and online payments. Enhanced with cognitive skills to detect liveliness, face match and identify documents, this advanced technology has made onboarding customers remotely through digital channels without compromising safety possible.

Celusion Technologies has been awarded four new contracts during the lockdown from large finance companies and also been nominated in the Top 10 in the Global category of MAS Fintech Awards at the Singapore Fintech Festival 2020.

PWR PWR