Yes Bank deploys Veefin’s SmartFin supply chain finance solution

Written by Delisha Fernandes

Yes Bank has announced the launch of SmartFin, an end-to-end digital supply chain finance (SCF) platform powered by Veefin Solutions.

SmartFin facilitates digital SCF loans for corporate customers’ dealers and suppliers, enabling them to achieve strategic business objectives such as working capital efficiency, market expansion, sales promotion, and strengthening supply chain partnerships.

The platform’s comprehensive capabilities in digital onboarding, credit underwriting, loan management, and transaction processing redefine the accessibility of SCF products.

Ajay Rajan, YES BANK, Heads of Government, Multinational and International Business, Transaction Banking and Knowledge, “At YES BANK, we are always looking for innovative ways to support MSMEs with the growing importance of Supply Chain Finance (SCF) as a model for increasing working capital efficiency. We felt a strong need to invest in a robust platform like ‘SmartFin’ to help strengthen our digital services in the sector. The SmartFin platform helps drive necessary operational and financial efficiencies for all stakeholders through end-to-end digital offerings.

SmartFin features strong integration with India’s digital infrastructure, namely India Stack and other key third-party data sources and ERP integrations. This synergy strengthens credit underwriting, making it more reliable and efficient. The platform’s sophisticated rules-based algorithms and omnichannel capabilities ensure easy access to credit for MSMEs, demonstrating his YES BANK’s commitment to customer centricity.

Mr. Raja Debnath, Managing Director, Veefin Solutions Ltd. says: “We are pleased to partner with YES Bank as it solidifies its position as a leader in SCF. After working with various banks around the world, integrating our solution with YES Bank has been one of the most seamless experiences. “Veefin continues to invest in its SCF product capabilities to ensure our clients always have the latest SCF technology to market.”