Zerodha co-founder & CEO Nithin Kamath revealed the process of onboarding customers prior to digitization in India.
Nithin recalled customers had to sign and courier 40+ pages of forms and wait for days for the account activation. Due to this, Zerodha took six years to get their first 60,000 customers
Nithin said due to digitization, the company managed to get 1 crore customers in the next six years, eliminating paper in the process through eKYC, digital signatures (eSign), and digital documents (Digilocker).
According to Nithin, Digitisation increases productivity savings and wastage reduction for companies and customers.
He highlighted the benefit of digitization stating that hundreds of millions of pages didn’t have to be printed and transported, saving the customers time.