customer story

How INDmoney accelerated user onboarding with Setu's eSign & eStamp solution

15% reduction in average eSign completion time, and a 5% lift in eSign conversion.

company

INDmoney

Industry

WealthTech

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.

About INDmoney

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Poor user experience: Native eSign pages from traditional providers featured outdated UI/UX that confused users and hurt conversions.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.