RXIL enables digital onboarding for MSMEs, Jocata Grid
Hyderabad, Mar 4 (KNN) Receivable exchange of India (RXIL), a trade receivables exchange platform (TReDS), has implemented Jocata’s proprietary platform Jocata Grid which can enable digital on-boarding for MSMEs.
The platform provides a multi-channel, paperless, digital on-boarding experience to MSMEs which enables them to access finance on the RXIL TReDS platform in a substantially shorter time.
Jocata Grid is deployed on the cloud and uses modular microservices driven framework, which ensures scalability and flexibility to add digital regulatory interventions like Video KYC.
Key features of this implementation include digital verification of entity and individual identifiers (such as GST, PAN, and UDIN), automated decision making, auto-population of customer information and digital documentation.
On its launch, Ketan Gaikwad, MD & CEO, RXIL, said, “With Jocata’s on-boarding solution, prospective MSMEs will be able to complete their digital on-boarding in a few minutes by visiting the RXIL website.
He also said that Jocata’s solution provides us with that impetus and further build on the scale that we have already achieved.
Prashant Muddu, CEO, Jocata said, “Our association with RXIL and the launch of this on-boarding platform aligns with the need to help RXIL on-board SMEs at scale and meet the end SME users financing goals,” (KNN/SS)