Syntizen’s team believes that 2022 shall be a year to bounce back with a bang.
By Siddharth Kukatlapalli, Co-founder and CBO, Syntizen.
The year 2021 for Syntizen Technologies, one of India’s leading Digital Identity solution provider, was more about getting back & stabilising the existing business that was impacted due to the COVID-19 pandemic. 2021 key milestones and client closures helped Syntizen’s team in believing that 2022 shall be a year to bounce back with a bang.
Some of the key milestones achieved by Syntizen in 2021 are:
- Clocked 1 Billion Digital Identity transactions for all the clients put together
- Implemented India’s first Video KYC system for Odisha Government which completely digitized Life Certificate issuance in Odisha
- Completed 100 Million Aadhaar Masking transactions for all the clients put together
With the above milestones and with things getting regularized, Syntizen plans to focus on these below mentioned plans for a fruitful 2022:
Clock 10 Million hits a day: Currently Syntizen is performing about 6 Million digital identity transactions on a daily basis for all the clients put together. In 2022, our target is to hit 10 Million transactions per day. Our work to increase the transactions being performed by the existing clients is in progress. Additionally, adequate strategies are being implemented to on-board new clients in the Government sector to meet this milestone we have aimed for
Target top 50 NBFC’s & Top Insurance Providers: Recently, as per some regulatory approvals, Syntizen’s platform can now be utilised by NBFC’s, Insurance Companies and other regulated entities. Syntizen intends to reach out to and offer our services to the top companies in this space. With our platform and services, clients will be able to save a significant amount of time and money. We aim to offer our services to as many clients as possible in the near future.
Increase R&D Team & Employee Strength: With a significant set of disruptive technology in the market and emphasis on Artificial Intelligence & Machine Learning, Syntizen now plans to increase the R&D Team to at least three times the current size. Apart from that, with current projects scaling up and larger clients in the pipeline to be onboarded, the company is planning to increase the strength of resources in a phased manner with the first priority being assigned to R&D team.
Initiate Global Plans: The concept of Digital Identification has taken centre stage not only in India, but also in most of the developing. There are many countries which are either in the process of implementing or already have a Digital Identification number similar to Aadhaar in India and Syntizen wants to launch products for these countries at the earliest. Currently some of Syntizen’s solutions use Aadhaar as the authenticating factor for identifying citizens. Syntizen plans to replace the Aadhaar module with the Digital ID of the particular country we expand in and make the product ready for use. It is to be noted that Syntizen shall comply with the local guidelines and also the Global Data Privacy policy while launching a global product.
Strategic Funding & Partnership: With Mastercard & ACPL as existing investors, Syntizen has been fortunate to leverage their network for selling our solutions apart from the funding received by them. Syntizen is now trying to raise another funding round with potential strategic investors who not only bring in funds to the organization but also play a key role in helping us reaching out to our target areas in both India and outside. Syntizen, as mentioned earlier, is trying to go global and we would like to take the help of the incoming strategic investors to help us in reaching, pitching and launching our products in multiple countries in the near future.
