> ## Documentation Index
> Fetch the complete documentation index at: https://razorpay-881012b3.mintlify.site/llms.txt
> Use this file to discover all available pages before exploring further.

# Banking, Financial Services & Insurance

> Explore Razorpay's BFSI solutions to streamline transactions, manage claims, create payouts and payout links for superior service and growth.

<div style={{display:"flex",flexWrap:"wrap",alignItems:"center",gap:"0.35rem 0.9rem",border:"1px solid rgba(128,128,128,0.28)",borderRadius:"0.5rem",padding:"0.45rem 0.75rem",margin:"0 0 1.25rem",fontSize:"0.875rem"}}>
  <span style={{fontWeight:600}}>Available in</span>
  <span>🇮🇳 India</span>
</div>

Razorpay provides comprehensive banking solutions that solve unique challenges across the lending, wealth management and insurance sectors. Businesses in the BFSI sector can benefit in the following ways:

### Insurance companies

Insurance companies can leverage RazorpayX payout and payroll features to enable hassle free transactions and employee management.

<AccordionGroup>
  <Accordion title="Seamless Claim Settlements">
    <Warning>
      **Watch Out!**

      RazorpayX Lite is currently not available for new merchants. To set up a new RazorpayX account, refer to [Current Account](/docs/x/account-types/current-account).
    </Warning>

    * Settle claims instantly using [RazorpayX Payout Links](/docs/x/payout-links).
    * Choose between multiple [Current Accounts or RazorpayX Lite](/docs/payments/set-up) for claim settlements.
    * Create [Sub Accounts](/docs/x/payouts/sub-accounts) for better payment segregation.
    * Overcome delays due bank downtimes and experience hassle free claim settlements using RazorpayX's [Multi-bank Routing feature](/docs/x/payouts/multi-bank-routing).
    * Set up approval workflows on RazorpayX Dashboard for channeling payouts for different levels of approvals.
  </Accordion>

  <Accordion title="Bulk Payouts to Advisors">
    * Execute payouts in bulk to insurance agents/advisors using [Bulk Payouts Links](/docs/x/payout-links/bulk).
    * Schedule payouts in advance for future disbursements.
  </Accordion>

  <Accordion title="Employees and Vendor Portals">
    * Set roles and permissions for different categories of users using  [Create User Roles](/docs/x/manage-teams/create-user-role) and enable controlled access.
    * Use [RazorpayX Payroll](/docs/payroll) for managing employee onboarding, attendance, salaries, payment to contract employees, TDS and more.
  </Accordion>
</AccordionGroup>

### NBFCs and Lending services

RazorpayX's lending tech stack can be used to credit instant loans to customers while ensuring compliance.

<AccordionGroup>
  <Accordion title="Quick and Simple Loan Disbursals">
    * Offer instant loan credits by using [RazorpayX Payout Links](/docs/x/payout-links) through multiple [Current Accounts or RazorpayX Lite](/docs/payments/set-up).
    * Leverage RazorpayX's tech stack to ensure financial, regulatory and legal compliance in lending.
    * Use [Sub Accounts](/docs/x/payouts/sub-accounts) for better payment segregation.
    * Utilize RazorpayX's [Multi-bank Routing feature](/docs/x/payouts/multi-bank-routing) to overcome bank downtimes and experience hassle free loan payouts.
    * Route payouts for different levels of approvals by setting up [Approval Workflow](/docs/x/manage-teams/approval-workflow) on RazorpayX Dashboard.
  </Accordion>

  <Accordion title="Bulk Payments to Agents">
    * Enable bulk payouts to agents/advisors using [Bulk Payouts Links](/docs/x/payout-links/bulk).
    * Manage and reconcile transactions across multiple accounts through a single Dashboard.
    * Create individual or bulk payouts to process hundreds of transactions at once.
    * Make payouts to bank accounts, debit cards, credit cards, or prepaid cards.
  </Accordion>

  <Accordion title="Employees and Contractor Portal">
    * Set up user roles and permissions for different categories of users using  [Create User Roles](/docs/x/manage-teams/create-user-role) and enable controlled access.
    * Manage employee onboarding, attendance, salaries, payment to contract employees, TDS and more using [RazorpayX Payroll](/docs/payroll).
    * Accurately calculate and disburse salaries automatically.
    * Directly deposit into employees' bank accounts without manual intervention.
    * Calculate and deposit taxes and file returns.
  </Accordion>
</AccordionGroup>

### Broking Platforms

Customer withdrawals can be completely automated using RazorpayX Payout APIs.

<AccordionGroup>
  <Accordion title="Automate Customer Withdrawals">
    * Use [Payout APIs](/docs/x/payouts/api) to automate customer withdrawals.
    * Approve or reject payouts using [Payout Approval APIs](/docs/x/payouts/api#payout-approval-api).
    * Enable fund tracking and ensure more clarity in payment management by using [Sub Accounts](/docs/x/payouts/sub-accounts).
  </Accordion>
</AccordionGroup>