How Refyne refined their onboarding with Digilocker

More than 30% of Indians live from paycheck to paycheck.

High living costs, lack of financial literacy, and social pressures are just some of the reasons why. Now during these frugal times, we all would’ve thrown our hands in the air and wondered—what if we could receive our salary as we earn it?

This is exactly what Refyne is doing.

Introduction to Refyne

Refyne is an earned-wage platform designed to empower employees to withdraw their salaries at any point during the month. Beyond their salary disbursement model, Refyne also provides financial advisory services aimed at bolstering financial education among their users.

Refyne’s business model requires an extremely flexible and reliable method for address verification. They had been relying solely on Aadhaar for this purpose. A customer enters their Aadhaar number on Refyne’s onboarding flow, and through APIs, Refyne matches that with the UIDAI database to verify the identity along with the address of the customer.

However, Refyne wanted a secondary system to rely on in case UIDAI was not always performing as expected.

There have been a few instances where UIDAI would not respond to the Aadhaar number input and left customers stranded on an incomplete onboarding journey. These outages necessitated a search for alternative solutions.

Discovering Setu

The starting point for Refyne was Setu’s bank account verification APIs, a product that Refyne was already live on and ultimately led them to extend its partnership with Setu into the domain of digital KYC. Setu’s flexibility, speed of integration, and API design were key factors that appealed to Refyne.

While Aadhaar-based verification through UIDAI remained the primary identity verification tool due to its relative simplicity, the decision to integrate Setu’s DigiLocker APIs was made to offer a solution for redundancy—thus providing a more robust and reliable onboarding solution for Refyne’s customers.

Setu's technical support was instrumental in ensuring a successful integration within a few days. The Refyne team found Setu’s comprehensive documentation and the ability to test APIs at their convenience, particularly helpful.

The integration of Setu’s DigiLocker APIs led to a 10% uptick in Refyne's address verification flow, enabling the use of additional identity documents such as Driver's licenses and Voter IDs.

Refyne views Setu as a key partner for fintech innovation. The expectation is to launch more industry-first products and continue to be a game-changer.

“We greatly appreciate Setu’s invaluable assistance in optimizing our address verification process with the Digilocker API. Their expertise in Fintech APIs, reliability of services, and seamless integration have significantly enhanced our KYC operations. We highly commend Setu for their outstanding address verification solutions and eagerly anticipate further collaboration.”

—Sumit Sagar, Associate Director of Product