Axis Bank introduces Sarathi digital onboarding platform for POS terminals

Axis Bank, a private sector bank in India, has introduced the Sarathi digital onboarding platform designed to facilitate electronic data capture (EDC) or point of sale (POS) for merchants.

This platform aims to streamline the onboarding process, providing a seamless and convenient experience for merchants.

Unlike the traditional onboarding procedures that can be time-consuming and complex, Sarathi simplifies the process into four easy steps. It incorporates real-time database checks to expedite application processing and offers live video verification, allowing merchants to authenticate their information at their convenience.

By eliminating the need for field verification, Axis Bank’s Sarathi digital onboarding platform enables instant decision-making and facilitates immediate installation of POS terminals.

Sarathi is designed to ensure merchants have a smooth and efficient onboarding experience. By going paperless, the digital onboarding platform from Axis Bank eliminates the cumbersome task of filling out forms and reduces the waiting time for POS terminal installation.

Axis Bank launches Sarathi digital onboarding platform for POS terminals to streamline merchant acquisition process. Photo courtesy of Christopher J. Fynn/Wikimedia Commons.

Merchants can benefit significantly from Sarathi’s features, which include real-time status updates, eliminating the need for follow-up visits. Additionally, merchants can start transacting on the same day their application is processed, said Axis Bank.

The paperless onboarding process ensures that all necessary documents are collected in a single visit, eliminating the need for multiple trips or repeated form submissions. With Sarathi, installations can be completed within 45 minutes of application processing, providing swift service to merchants.

Overall, Axis Bank’s Sarathi digital onboarding platform aims to simplify and expedite the onboarding process for merchants, leveraging digital solutions to enhance efficiency and improve the merchant experience.

Sanjeev Moghe — Axis Bank President and Head of Cards & Payments said: “Axis Bank will continue to focus on creating digital differentiators across the lifecycle of merchants and consumers. Sarathi gives us the immense potential to drive value for both merchants as well as the sales channel, especially at a time when instant gratification is the norm.

“This rapidification of onboarding combined with top-notch feature-rich terminals should deliver a superior experience for our merchant community and at the same time improve productivity for our sales teams from an efficiency and productivity standpoint.”