Nov 10 2020
India’s trusted fintech company, Celusion Technologies has been shortlisted in the top 40 Global Fintech companies at the prestigious, Singapore based MAS Fintech Awards, from a total of 326 submissions across 55 countries. Celusion is one of the only 2 companies shortlisted from India.
The MAS Global Fintech Challenge launched by The Monetary Authority of Singapore (MAS), seeks to identify path breaking solutions that can enable the financial sector to respond to two pressing global challenges of today: Covid-19 and climate change. This award is given to recognise excellence in developing innovative solutions in the financial sector.
Celusion’s Unified Account Opening Platform has helped to combat the challenges posed by Covid 19. The solution has eliminated physical travel for customers that are keen to open and verify new banking, insurance, mutual fund and stock broking accounts, making it a contact-less experience. The solution has proved to be a perfect fit in the current globally difficult times and that has led to it getting shortlisting under the global category.
Celusion has deployed the Unified Account Opening Platform with leading stock brokers to open demat and trading accounts and lending companies to open loan accounts. The platform scales to meet enterprise needs and at its peak has opened more than 1,50,000 accounts per month. The solution has resulted in considerable cost and time savings and has led to significant increase in customer acquisitions.
The solution enables a customer to open an account and start operating it in 15 minutes.
This solution is implemented in 6 large cap financial institutions in the last 12 months.
Out of which, 3 of the top 10 stock brokers in India & 2 of the top 5 mortgage companies in India use the Unified Account Opening product.
This platform currently processes 2500 demat & trading accounts and 5000 loan accounts opening per day.
Speaking on the award nomination, Celusion Technologies founder, Praveen, said “We are thrilled to be selected in the Top 40 finalists at the world’s largest fintech conference. The selection validates the product potential on a global stage and will help accelerate our growth to be leaders in the space of digital customer onboarding.”
Celusion, founded in the year 2004, is an Indian software company that develops enterprise applications for banks and financial services. The company is headquartered in Thane, Maharashtra, India.
Celusion Technologies helps banks, financial services and insurance companies transform their customer acquisition process to a fully-digital channel, augmented by real-time regulatory checks and artificial intelligence for fraud detection. The solution comprises a suite of digital offerings that build a collaborative ecosystem that connects sales, operations, channel partners, credit underwriting and management, reducing the time to onboard a customer with increased operational efficiency.
With the vision to be a global company, Celusion has recently registered a Singapore entity, that will serve the ASEAN market. Celusion works with leading stock brokers and lending companies in India, on their key digital transformation projects.
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