Fyers, an Indian online trading and investment platform that allows users to trade in stocks, futures, options, commodities, and mutual funds, and apply for IPOs, was handling the customers' documentation journey manually. They were seeing massive delays in the pre-procurement of stamp papers, which used to take a week.
To digitize the customer operation process, decrease paper dependency, and improve customer experience, Fyers partnered with Melento, resulting in an 80% reduction in TAT and improved customer conversion and retention.
Fyers was facing operational delays with heavy paperwork. The manual customer onboarding process was slowing things down for them, leading to inefficiencies and customer dissatisfaction. It further added to the challenges of manually collecting customer documents and stamp procurement from channels. Pre-procurement of stamp papers used to take a week, and the customer onboarding process used to take a couple of days.
Melento (formerly SignDesk) digitized Fyer’s customer onboarding for a seamless and smooth process. It eliminated heavy manual paperwork and offline document dependencies. It helped the client to provide a secure, automated, and regulatory-compliant onboarding process in a unified digital platform.
The Benchmark Solution
Melento delivered a fully digitized, end-to-end customer onboarding workflow tailored to Fyers operations. The platform replaced heavy paper dependencies, pre-procurements of stamps, and signature delays with a unified, automated, and transparent digital customer onboarding system, increasing customer conversion and retention.
Digital KYC & Customer Verification
EnaDelivered instant, compliant VCIP/VBIP with AI-based face match, liveness, OCR, and full audit logs.
Digital Stamping for Customer Agreements
Enabled real-time stamp procurement with SCHIL integration and easy wallet recharge, reducing the stamp preprocurement delays.
Digital Signing of Customer Documents
Enabled Aadhaar eSign with multi-party flows, auto-merged stamped files, and NSDL-verified audit-backed signatures.
Automated Contract Management Post-Onboarding
Provided a unified contract repository with evidence preservation, version control, and computerized renewals/amendments.
Platform-Level Enhancements
Delivered secure SSO, co-branded journeys, and bulk workflows for large-scale operations.
Identity Verification
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Before Melento
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After Melento
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Manual checks, delays, and high dependency on field staff
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Instant, fully automated verification with complete regulatory evidence
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Stamping Turnaround Time
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Before Melento
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After Melento
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Week-long delays, manual procurement
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Facility with SHCIL integration, easy wallet recharge, stamping completed instantly; onboarding TAT reduced by 80%
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Document Execution
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Before Melento
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After Melento
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Physical signatures, multi-day coordination
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Documents executed within minutes, increasing conversions and reducing drop-offs
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Post-Onboarding Compliance
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Before Melento
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After Melento
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Fragmented records, manual tracking
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End-to-end compliance with automated contract management and evidence preservation
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Operational Scalability
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Before Melento
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After Melento
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High workload, limited throughput
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Secure, scalable ecosystem across teams with reduced manual intervention
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“Melento helped us to digitize the customer onboarding process to scale our operations. The process, which used to take a minimum of 2 days and could go up to a week, is now reduced to 10 minutes.”
The process, which used to take a minimum of 3 days and could go up to 30 days, is now reduced to 10 minutes.”
-Ashutosh Agarwal (Product Manager, Fyers)
For enterprises,processing and managing thousands of customer documents is a time-consuming, error-prone, and expensive operation. In addition to this, the stamp pre-procurement, the back-and-forth with customer documents also created a major bottleneck.
By digitizing the process with Melento, Fyers could manage the end-to-end customer onboarding workflow at a lower operational cost and ensure better compliance oversight