{"id":5986,"date":"2024-04-10T11:38:58","date_gmt":"2024-04-10T11:38:58","guid":{"rendered":"https:\/\/decentro.tech\/blog\/?p=5986"},"modified":"2024-06-20T10:33:25","modified_gmt":"2024-06-20T10:33:25","slug":"salaryse-case-study","status":"publish","type":"post","link":"https:\/\/decentro.tech\/blog\/salaryse-case-study\/","title":{"rendered":"How Decentro Is Helping SalarySe Empower 100M+ Salaried Individuals"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_17 counter-hierarchy\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class=\"ez-toc-list ez-toc-list-level-1\"><li class=\"ez-toc-page-1 ez-toc-heading-level-1\"><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/decentro.tech\/blog\/salaryse-case-study\/#What_is_SalarySe\" title=\"What is SalarySe?\">What is SalarySe?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-1\"><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/decentro.tech\/blog\/salaryse-case-study\/#How_does_SalarySe_work\" title=\"How does SalarySe work?&nbsp;&nbsp;\">How does SalarySe work?&nbsp;&nbsp;<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-1\"><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/decentro.tech\/blog\/salaryse-case-study\/#How_does_SalarySe_leverage_Decentros_technology_stack\" title=\"How does SalarySe leverage Decentro\u2019s technology stack?\">How does SalarySe leverage Decentro\u2019s technology stack?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-1\"><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/decentro.tech\/blog\/salaryse-case-study\/#What_are_the_key_areas_where_Decentro_comes_in_and_empowers_SalarySe\" title=\"What are the key areas where Decentro comes in and empowers SalarySe?\">What are the key areas where Decentro comes in and empowers SalarySe?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-1\"><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/decentro.tech\/blog\/salaryse-case-study\/#Outcomes\" title=\"Outcomes\">Outcomes<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-1\"><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/decentro.tech\/blog\/salaryse-case-study\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n\n<figure class=\"wp-block-image size-large featured-post-img\"><img loading=\"lazy\" width=\"855\" height=\"855\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/How-Decentro-Is-Helping-SalarySe_Empower-100M-Salaried-Individuals.png\" alt=\"\" class=\"wp-image-6319\"\/><\/figure>\n\n\n\n<p>A recent report by EY has said that India Inc. <strong><em>may offer an average salary hike of 9.6 percent in 2024, just as in 2023<\/em><\/strong>. The <a href=\"https:\/\/economictimes.indiatimes.com\/news\/company\/corporate-trends\/9-6-average-salary-increase-for-india-inc-in-2024-ey-future-of-pay-2024-report\/articleshow\/108268996.cms?from=mdr\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">report<\/a>, \u2018Future of Pay 2024,\u2019 highlighted that e-commerce is expected to have the highest salary growth in 2024, at 10.9 percent, followed by financial services, with a projected increase of 10.1 percent.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"1628\" height=\"693\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/2-Future-of-pay.png\" alt=\"Future of Pay 2024 report takeaways \" class=\"wp-image-5987\"\/><\/figure>\n\n\n\n<p>While these numbers paint a very promising picture for the country this fiscal year, there is a side to this story that is often shrouded.&nbsp;<\/p>\n\n\n\n<p>While the salary bracket has witnessed an uptick, a concerning trend has emerged recently.<\/p>\n\n\n\n<p><strong><em>An Ernst &amp; Young (EY) <a href=\"https:\/\/www.deccanherald.com\/business\/how-firms-can-take-charge-of-employees-financial-wellness-1154142.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">study<\/a> shows that 81% of Indian employees have faced a financial shortfall between pay cycles.<\/em><\/strong> With limited access to credit options and poor financial education, several tend to opt for high-interest loans without understanding the impact they could have. This often leads to a vicious cycle, causing massive financial stress.<\/p>\n\n\n\n<p>India&#8217;s salaried demography suffers from this economy&#8217;s affordability, and our customer, SalarySe, is looking to fill this gap with their solution.<\/p>\n\n\n\n<h1><span class=\"ez-toc-section\" id=\"What_is_SalarySe\"><\/span>What is SalarySe?<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"2880\" height=\"1406\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/Screenshot-2024-04-10-at-4.44.44-PM.png\" alt=\"SalarySe websitev screen grab\" class=\"wp-image-5988\"\/><\/figure>\n\n\n\n<p>SalarySe is a salary-powered fintech platform that redefines the landscape of financial services in India for the 10 Crore salaried individuals earning $300bn+ per year. It focuses on lower\u2014to middle-class salaried employees, who constitute ~60% of the salaried income pool in India.&nbsp;<\/p>\n\n\n\n<p>SalarySe provides revolving credit on UPI by integrating it with companies&#8217; payroll systems. It also uses a lien on salary for repayments to reduce credit risk. In the process, they innovatively leverage technology to solve the core problem of high collection &amp; credit costs for banks.&nbsp;<\/p>\n\n\n\n<p>\u201cThe idea is to create a financial wellness platform for employees to access credit, invest and manage their wealth,\u201d says Piyush Bagaria, cofounder of SalarySe.<\/p>\n\n\n\n<h1><span class=\"ez-toc-section\" id=\"How_does_SalarySe_work\"><\/span>How does SalarySe work?&nbsp;&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"2874\" height=\"1406\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/Screenshot-2024-04-10-at-4.45.53-PM.png\" alt=\"SalarySe offerings\" class=\"wp-image-5989\"\/><\/figure>\n\n\n\n<p>SalarySe leverages UPI technology to provide financial wellness solutions, including credit, savings, financial literacy, etc., to salaried employees. Credit and investment products are offered to SalarySe\u2019s customers by their banking partners using the SalarySe infrastructure.&nbsp;<\/p>\n\n\n\n<p>SalarySe\u2019s proprietary business model provides multiple benefits to employees, such as instant credit access on UPI, higher approved credit limits, credit at cheaper rates, and to employers, such as unblocking their working capital, reducing attrition and manpower costs, automating reimbursements, etc.&nbsp;<\/p>\n\n\n\n<h1><span class=\"ez-toc-section\" id=\"How_does_SalarySe_leverage_Decentros_technology_stack\"><\/span>How does SalarySe leverage Decentro\u2019s technology stack?<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<p>The wealth management business can be challenging due to high-volume disbursals, collections, and the need for credit assessment methods. At this disruptive stage of SalarySe, to connect with various financial institutions such as CERSAI, NSDL, UIDAI, and more, the company was looking for a partner who could absorb the complexity of these integrations and offer a simple API with faster response times.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"976\" height=\"452\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/decentro-kyc-api-module-1.png\" alt=\"Decentro's one stop KYC \" class=\"wp-image-5990\"\/><\/figure>\n\n\n\n<p>This is where Decentro could stand out and differentiate itself from other players. Decentro\u2019s <a href=\"https:\/\/decentro.tech\/products\/kyc-onboarding\/\">KYC module<\/a> helps to collect and validate multiple IDs from the database of various governmental authorities:<\/p>\n\n\n\n<ol><li>PAN cards<\/li><li>Aadhaar<\/li><li>Voter IDs<\/li><li>Driving License<\/li><li>Vehicle Registration<\/li><li>CKYC<\/li><li>DigiLocker&nbsp;<\/li><\/ol>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"800\" height=\"418\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/1694752340796.jpeg\" alt=\"Decentro's match engine API\" class=\"wp-image-5991\"\/><\/figure>\n\n\n\n<p>Decentro also empowered SalarySe\u2019s verification journey with Match Engine. This KYC Name Matching solution ensures not only accurate matching but also a comprehensive understanding and handling of Indian honorifics and a plethora of salutations.<\/p>\n\n\n\n<h1><span class=\"ez-toc-section\" id=\"What_are_the_key_areas_where_Decentro_comes_in_and_empowers_SalarySe\"><\/span>What are the key areas where Decentro comes in and empowers SalarySe?<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"1628\" height=\"692\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/3-Key-Areas-2.png\" alt=\"How Decentro empowered SalarySe\" class=\"wp-image-5992\"\/><\/figure>\n\n\n\n<p>Decentro stepped in with its KYC and banking stacks to empower SalarySe:<\/p>\n\n\n\n<ol><li>ID collection<\/li><li>User Verification<\/li><\/ol>\n\n\n\n<p>This has allowed the organisation to collect information seamlessly from the user. Triangulating the collected data points and validating information allows SalarySE to determine the individual\u2019s creditworthiness and chart the financial wellness plan.&nbsp;<\/p>\n\n\n\n<h1><span class=\"ez-toc-section\" id=\"Outcomes\"><\/span>Outcomes<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"1628\" height=\"692\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/4-Outcomes.png\" alt=\"Decentro X SalarySe Outcomes\" class=\"wp-image-5993\"\/><\/figure>\n\n\n\n<p>Decentro\u2019s robust <a href=\"https:\/\/docs.decentro.tech\/\" target=\"_blank\" rel=\"noreferrer noopener\">API<\/a>s have allowed SalarySe to drive fantastic results.&nbsp;<\/p>\n\n\n\n<ul><li>93% of customers experience a successful single-click journey.<\/li><li>Zero instances of KYC fraud.<\/li><li>10X faster integration timelines.&nbsp;<\/li><li>Availed Decentro\u2019s multi-channel customer support for any queries or resolution<\/li><\/ul>\n\n\n\n<p>Let us also consider what <a href=\"https:\/\/www.linkedin.com\/in\/saumeet-nanda-93104ba2\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Saumeet Nanda<\/a>, Founder of SalarySe, thinks about this association between two inclusivity-led organisations.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>\u201cAs the founder of a financial wellness company, our journey is guided by a commitment to security, trust, and empowerment. With Decentro\u2019s KYC APIs fueling our verification process, we&#8217;re not just verifying identities but building bridges to financial freedom; one verified user at a time\u201d.<\/p><cite>Saumeet Nanda, Founder of SalarySe<\/cite><\/blockquote>\n\n\n\n<h1><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<p>Decentro\u2019s<a href=\"https:\/\/decentro.tech\/products\/kyc-onboarding\" target=\"_blank\" rel=\"noreferrer noopener\"> KYC<\/a> and Banking infrastructure can help companies create seamless flows across industries. With over 400+ Identity validations, 250+ Image recognitions, and 300+ Repository fetches happening via Decentro\u2019s KYC stack per hour, we\u2019re more than equipped to enable your verification and validation journey.&nbsp;We have also written a comprehensive guide on the <a href=\"https:\/\/decentro.tech\/blog\/kyc-types\/\" target=\"_blank\" rel=\"noreferrer noopener\">Types of KYC<\/a> and their use cases to help you understand their fitment in your use cases. <\/p>\n\n\n\n<p>From collecting and validating users&#8217; IDs (individuals and companies) to verifying identities through face match and liveliness check and accessing databases like <a href=\"https:\/\/decentro.tech\/resources\/ckyc-apis\/\" target=\"_blank\" rel=\"noreferrer noopener\">CKYC<\/a> and <a href=\"https:\/\/decentro.tech\/resources\/digilocker-apis\/\" target=\"_blank\" rel=\"noreferrer noopener\">DigiLocker<\/a>, our compliant and comprehensive product suite has solved pertinent use cases for customers across industries.&nbsp;<\/p>\n\n\n\n<p>Not just SalarySe but Decentro has enabled many other major companies\u2014notably <a href=\"https:\/\/decentro.tech\/blog\/streamlining-credit-for-consumers-by-10x-with-moneytap\/\">MoneyTap<\/a>, <a href=\"https:\/\/decentro.tech\/blog\/cashe-case-study\/\" target=\"_blank\" rel=\"noreferrer noopener\">CashE<\/a>, and others\u2014to facilitate better verification and validation with the promise of consistency and accuracy.&nbsp;<\/p>\n\n\n\n<p>Do you have a platform requiring verification of customers or businesses you want to make live?<\/p>\n\n\n\n<p><a class=\"decentro-homepage-signup\" href=\"https:\/\/decentro.tech\/signup?\" target=\"_blank\" rel=\"noreferrer noopener\">Let&#8217;s Connect<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An in-depth look at how Decentro is helping SalarySe onboard and verify their users faster. Learn more about SalarySe and how they are enabling Salaried Employees with their Credit-on-UPI Platform.<\/p>\n","protected":false},"author":17,"featured_media":6642,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[70],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Decentro Is Helping SalarySe Empower 100M+ Salaried Individuals - Decentro<\/title>\n<meta name=\"description\" content=\"An in-depth look at how Decentro is helping SalarySe onboard and verify their users faster. 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