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Self-Service Transformation: Digitising Merchant Onboarding for a Leading Indian Bank

Sector: Banking & Financial Services | Region: India

The Challenge

Merchant onboarding for digital payments at ICICI Bank, a leading private sector bank in India, was initially outsourced to First Data. Although First Data handled all onboarding activities and components, the setup functioned like a “black box”. ICICI had limited visibility and control over the data and workflows. Critically, the bank was unable to access merchant data to cross-sell or upsell other banking products, significantly limiting the strategic value of its merchant relationships.

Recognising these limitations, ICICI realised it needed a radically better approach—one that was digital, transparent, fast, and fully under the bank’s control.

To drive this transformation, ICICI floated an RFP with 17 participants, including In-Solutions Global (ISG). ISG was selected as a key technology partner to deliver specific components of the vision, based on its ability to meet complex project requirements. Other components were entrusted to different vendors to ensure a holistic, best-in-class solution.

Business Objective

ISG’s mandate was to build a platform for ICICI that enabled merchants to onboard themselves digitally, without manual paperwork.

The key objectives were to:

• Launch a fully online, Do-It-Yourself (DIY) merchant onboarding platform

• Enable real-time KYC validation via integration with government and bank records

• Introduce a transparent digital consent mechanism compliant with regulatory guidelines

• Consolidate all merchant data into a single repository

• Provide merchants with a live dashboard for payments and transactions

• Gain a digital edge over peers with outdated processes

ISG’s Platform Delivery

ISG brought deep domain expertise in digital payments and delivered a modular, merchant-first solution that integrated seamlessly with ICICI’s systems.

Scope of delivery included:

• Developing the self-service merchant onboarding platform

• Integrating it with ICICI’s core banking systems

• Enabling post-onboarding features like dashboards, notifications, and real-time alerts

Why ISG Delivered Differently

Self-Service Merchant Onboarding

ISG created a DIY platform where merchants could register themselves online, eliminating the need to visit a bank branch or fill out paper forms. The system integrated directly with ICICI's core banking infrastructure, enabling real-time KYC validation and auto-population of merchant data.

What made it different:

• Merchants simply logged in and entered basic details like their mobile number or PAN

• The platform automatically fetched their name, address, and business details from existing databases

• Background KYC checks ran in real time

• Manual typing, delays, and errors were eliminated

A truly self-driven journey that improved speed and accuracy while reducing bank workload.

e-OTP and Consent Transparency

To ensure compliance and clarity, ISG implemented an e-OTP-based consent mechanism:

• The complete application form, fee details, and T&Cs were shared digitally with the merchant

• Merchants reviewed the information and confirmed their consent via OTP

• The process clearly outlined every service, charge, and condition, ensuring transparency

A frictionless, auditable process that met regulatory expectations.

Proactive Discrepancy Management

Merchants sometimes make mistakes during registration like missing documents or typos. Previously, such errors led to back-and-forth calls and delays.

With ISG’s platform:

• Errors were flagged instantly

• Both merchants and sales staff were notified in real time

• The system tracked correction status until resolved

Immediate alerts. No follow-ups. Fast fixes.

Consolidated Merchant Repository

Merchant data was previously scattered—across card machines, payment gateways, and different teams.

ISG fixed that by building a single source of truth:

• All merchant records across channels were consolidated into one repository

• Internal teams could access clean, consistent data easily

• Data integrity improved, and operational friction dropped

ICICI finally gained end-to-end visibility into its merchant base.

Regulatory Alignment

Thanks to ISG’s digital workflows, ICICI could now clearly communicate services and charges to its merchants, ticking a key regulatory compliance box with confidence.

Feature-Rich Merchant Dashboard

ISG did not just stop at onboarding. Once a merchant was onboarded, they gained access to a live dashboard that brought everything together:

• Real-time transaction tracking for instant business visibility

• Unified views across POS, payment gateways, and links—unlike most competitors

• Refund initiation with built-in checks to ensure accuracy and security

• Dispute and chargeback management tools that merchants could use directly

• Payment link creation where merchants could send payment requests and track responses

One screen. Total control. Empowered merchants.

The Outcome

• Launch a seamless, 100% digital onboarding journey

• Dramatically cut turnaround times and reduce manual errors

• Meet all regulatory requirements around consent and communication

• Offer merchants a transparent, self-service experience

• Move ahead of major competitors still tied to paper-based systems

What Set ISG Apart

In a complex, multi-vendor transformation, ISG stood out by owning the end-to-end merchant experience with unmatched precision and empathy.

• A plug-and-play platform integrated deeply with ICICI’s core

• A merchant-first design which is simple, powerful, and intuitive

• Real-time capabilities across onboarding, verification, and transaction tracking

• Tools that not only digitised the process but made it future-proof

• A scalable foundation for adding new features, partners, and products

Thinking of reimagining your merchant onboarding?

Partner with ISG — where digital journeys begin and merchant experience takes centre stage.