Founded in 1897, the Godrej Group is one of India’s most respected conglomerates, with businesses across consumer goods, real estate, appliances, aerospace, and agribusiness. Serving over a billion people globally, Godrej remains committed to innovation and impact.
As part of its digital transformation, Godrej automated vendor onboarding and payouts to ensure secure, timely payments across its vast semi-urban and rural vendor network.
CHALLENGE
Manual Verification Slows Down Scale
Godrej’s vendor ecosystem spans multiple group companies and locations, making the process of onboarding and verifying vendor bank details a major operational challenge. Traditionally, vendors were required to submit cancelled cheques or passbooks, and internal teams had to manually validate and enter banking information. This process introduced delays in releasing first-time payouts, often resulted in data entry errors, and created a significant reconciliation burden for finance teams.
As the number of vendors grew, this manual approach proved unsustainable and misaligned with Godrej’s commitment to efficiency and scale.
SOLUTION
Instant Bank Verification with Pennydrop API
Godrej implemented Bank Verification APIs into its finance and procurement systems. This technology allows the company to verify a bank account in real time using only the account number and IFSC code. A token deposit is initiated, and the API returns the verified name of the account holder directly from the bank.
With this integration, Godrej eliminated the need for physical documentation and manual data entry. Finance teams could now validate account ownership instantly, ensure that bank details were accurate, and process payouts on the same day a vendor was onboarded. The solution also brought consistency across all group entities, streamlining internal operations while offering a better experience to vendors.
RESULTS
Operational Efficiency with Built-In Trust
The integration of Bank Account APIs has transformed Godrej’s vendor onboarding process. The organization has seen a sharp decline in data mismatches and payout failures. Finance teams have significantly reduced the time and effort spent on bank verification, allowing them to focus on higher-value tasks. Vendors, in turn, experience faster onboarding and quicker access to payments, which has strengthened trust and satisfaction across the ecosystem.
This seamless and secure system reflects Godrej’s broader mission to lead with integrity, operate efficiently, and build strong, tech-enabled relationships with every stakeholder.
What will your story be?
Create an account instantly to get started or contact our sales team to discuss your unique requirements.
Confirm Identities with confidence
Verify Aadhaar, PAN, GSTIN, Bank Account & MCA data securely.
