Page 21 - Banking Finance May 2022

PRESS RELEASE

KVB's Total Business crosses Rs. 1,25,000 crores

Karur Vysya Bank announced today as the bank crossed the milestone business figure of Rs.
1,25,000 crores. Total business constitutes the total deposits and advances of the Bank. While
the total deposits of the bank stood at Rs. 68,676 cr. as on 31.03.2022, the total advances
was at Rs. 58,086 cr., aggregating a total business of Rs. 1,26,762 cr.
Mr. Ramesh Babu, Managing Director & CEO of the Bank said, "This is a significant landmark
in the 100 plus years history of the bank. We are thankful to all our customers, many of
whom are second and third generation customers of our bank, for their trust and support.
The employees of the bank have worked over the years to ensure sustained quality of customer
service. Our approach is to offer our customers, need-specific, financial products / services
by providing tailor-made solutions and a positive customer experience through delivery of quick
Mr. Ramesh Babu and efficient services."
MD & CEO
Karur Vysya Bank was started in the year 1916 and today has a gamut of financial services,
all under one roof, and service millions of customers across India. The bank innovates consistently to deliver value to its
customers. The Bank has always been a frontrunner in adopting and leveraging on technology to offer products and
services to its customers. The bank had a branch network of 789, ATM network of 1639 and 584 Recycler / Cash Deposit
Machines across India.

Signzy Named Winner of IFSCA's BankTech Hackathon for Its Unified

KYC Solution
The International Financial Services Centres Authority (IFSCA) has named Signzy one of winners of its 'Sprint01: BankTech'
Hackathon. Signzy secured the top rank for its Unified KYC Solution. The hackathon was open to all eligible FinTechs from
across the globe and was one of its kind, being backed by a Financial Sector Regulator.
The other two winners of the Hackathon are SBNRI Technologies Private Limited, and EdgeVerve Systems Limited, who
won for Retail Banking Products at IFSC and Buyers Credit Optimization respectively. Signzy and others were granted a
prize money totaling ?24 Lakh.

All three winners will be allowed a direct entry into the applicable IFSCA Regulatory or Innovation Sandbox. They will
further receive Regulatory guidance and handholding. After a successful exit from the respective Sandbox, they will get
an opportunity to set up business at GIFT IFSC.
Commenting on the win, Ankit Ratan, co-founder of Signzy said, "We are honoured to receive this recognition from
IFSCA for our Unified KYC solution, and this win is dedicated to the larger Signzy team that has worked hard to create
one of the best digital KYC and customer onboarding platforms anywhere in the world. We are equally excited to participate
in the IFSCA Regulatory and Innovation Sandbox, as we look forward to new opportunities to make a meaningful difference
to the growth and evolution of the global fintech industry."
"Sprint01: BankTech'' under the banner of I-Sprint'21 was launched with a focus on Banking Sector and was hosted by
IFSCA and GIFT City in collaboration with NITI Aayog. The Partners to the Hackathon were ICICI Bank, HSBC Bank,
International Centre for Entrepreneurship and Technology (iCreate), Zone Startups, and Invest-India.
The global FinTech Hackathon is part of InFinity Forum 2021. InFinity Forum is IFSCA's flagship financial technology event,
uniting the world's leading minds in policy, business and technology to explore and advance the biggest ideas in FinTech
and to develop those ideas into global solutions and opportunities.
Signzy has won many awards in the recent past for its technology innovation, some of them being IAMAI's Most Innovative
Fintech Data Solution Provider Award, ASSOCHAM's ICT Startup Awards, Technoviti Award 2020 for Video KYC, and many
more. In the past, Signzy has also won awards from regulatory bodies like RBI and MAS Singapore.

BANKING FINANCE | MAY | 2022 | 21