“Zerodha Founder Nithin Kamath Reflects on Remarkable Growth Through Digitisation”
Zerodha Founder Nithin Kamath reflects on the profound impact of digitisation, highlighting how it propelled the company’s customer base from 60,000 to one crore. Digitisation’s advantages, including increased productivity and reduced wastage, are celebrated as a game-changer for businesses in India.
Nithin Kamath, the Founder and Chief Executive Officer of Zerodha, a leading Indian brokerage firm, recently shared insights on the remarkable growth of his company thanks to digitisation. In a post on X (formerly Twitter), he highlighted the pivotal role digitisation played in taking Zerodha from its initial struggle to acquire 60,000 customers in six years to achieving a staggering one crore customers in the subsequent six years.
Mr. Kamath recalled the arduous process of acquiring customers in the pre-digitisation era, where customers had to sign and courier over 40 pages of forms and wait for days. This cumbersome approach underwent a remarkable transformation thanks to digitisation, particularly through eKYC, digital signatures (eSign), and digital documents (Digilocker).
He underscored the advantages of digitisation, emphasizing increased productivity, cost savings, and a significant reduction in paper wastage. The transition to a digital platform allowed for the elimination of hundreds of millions of pages that would have otherwise been printed, transported, and consumed valuable customer time.
Furthermore, Mr. Kamath noted that the digital infrastructure significantly reduced customer onboarding risks on Zerodha’s platform, thanks to the simplicity of digital identity verification and online in-person verification (IPV) compared to the traditional physical forms, documents, and signatures with multiple intermediaries.
Several individuals and industry experts applauded Mr. Kamath’s insights, acknowledging the transformative power of digitisation in revolutionising business operations and customer experiences in India.
Sources By Agencies
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