10 major Indian FinTech partnerships in October 2023

By Gloria Mathias

FinTech partnerships involve technology firms bringing together the best capabilities in the FinTech industry to offer banks, NBFCS, Financial Institutions etc, next-gen digital banking and payment experiences.

These collaborations seek to accelerate digital transformation, streamline financial processes, and optimise capital management for all facets of the Financial sector.

Listed below is a compilation of 10 October-specific FinTech partnerships in India:

• Veefin & Tagit enters strategic partnership to offer digital lending solutions

Under the alliance, Tagit and Veefin will combine their technologies to develop solutions that cater to the evolving needs of corporate clients and supply chain stakeholders.

• Ujjivan Small Finance Bank & Haqdarshak to empower MSMEs in India

Ujjivan Small Finance Bank (Ujjivan SFB) and Haqdarshak (HQ) have developed a unique financial literacy programme to bridge the knowledge divide among nano and MSME entrepreneurs.

• Spice Money & NSDL Payments Bank to facilitate Rural Banking in India

Spice Money’s extensive Adhikari network and NSDL Payments Bank’s expertise in secure banking solutions, this collaboration is set to provide accessible and secure financial services.

• Mastercard & Bizom to provide supply chain financing solutions to micro retailers

Mastercard and Bizom have collaborated to extend a holistic digital supply chain financing solution to over 75 lakh micro retailers and 2 lakh distributors of consumer packaged goods (CPG) for small retailers in India.

• Orion partners with FinTaar Technologies & bizAmica Software in India

FinTaar Technologies, along with Orion and bizAmica Software, bring with them a wide array of solutions built using AI-driven business, document, and workflow automation.

• Canara HSBC Life Insurance & Artivatic.AI to simplify the insurance process

Partnering with Artivatic.AI will help Canara HSBC Life Insurance digitise the insurance processes like policy onboarding, quotations, ease of payments, pre-insurance verification, etc.

• Comviva and Gnosys partner to enhance digital banking solutions

Comviva and Gnosys Skill Bridge have announced a strategic partnership to advance digital banking and payment services across India and APAC.

• BANKIT joins LIC & SBI to expand Insurance Services to Rural India

BANKIT, with LIC and SBI General Insurance, is poised to revolutionise the way insurance services are delivered in the remotest corners of the country.

• Federal Bank & Avanti Finance form co-lending partnership for rural borrowers

Federal Bank and Avanti Finance have entered into a co-lending partnership to enable affordable credit access to rural, unserved, and underserved borrowers.

• IndusInd Bank & Viamericas team to launch digital remittances platform for NRIs

IndusInd Bank has collaborated with Viamericas Corporation to offer digital inward remittance services to non-resident Indians (NRIs) in the USA through IndusInd Bank’s ‘Indus Fast Remit’, a remittance service platform.

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