Case Study: BookMyForex cuts KYC time to 5 seconds with Decentro

BookMyForex cuts KYC time to 5 seconds with Decentro

BookMyForex, India's largest online forex marketplace, faced significant challenges with its manual KYC and verification processes. These bottlenecks, including slow PAN verification and error-prone bank account validation, were causing customer drop-offs and regulatory risks. To overcome this, BookMyForex partnered with vendor Decentro to implement its API-based verification solutions.

Decentro provided its PAN Verification API and Bank Account Validation API, which integrated directly into the onboarding flow. This transformed a multi-day process into a real-time, automated background check. The results were substantial: KYC time was cut to under 5 seconds, onboarding drop-offs were significantly reduced, and the platform processed over 88,000 automated PAN verifications, ensuring compliance and enabling same-session transactions for customers.

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