Yes Bank Introduces Veefin SmartFin for Digital Supply Chain Financing

Description

Yes Bank has announced SmartFin, an innovative digital Supply Chain Finance (SCF) platform developed in conjunction with Veefin Solutions, as a strategic move to strengthen support for Micro, Small, and Medium Enterprises (MSMEs). Yes Bank's dedication to promoting innovation and improving its digital products, particularly in the field of working capital efficiencies, is reflected in this program.

Innovative Approach To Support MSMEs

Yes Bank's Country Head of Government, Multinational & International Business, Transaction Banking & Knowledge Units, Ajay Rajan, underscored the bank's commitment to finding novel avenues for MSME support. Yes Bank invested in the sophisticated SmartFin platform to enhance its digital capabilities in this space, recognizing the growing importance of SCF models in generating working capital savings.

Complete Digital Solutions

SmartFin, powered by Veefin Solutions, is a complete digital SCF platform. According to Rajan, the platform's digital capabilities aim to improve operational and financial efficiencies for all supply chain players.

Fintech Collaboration And Seamless Integration

Raja Debnath, Managing Director of Veefin Solutions Ltd, lauded the solution's flawless integration with Yes Bank. He praised Yes Bank for its dedication to digital innovation and fintech friendliness. Debnath emphasized Veefin's continued investment in SCF product capabilities, ensuring clients have access to market-leading technology. The agreement highlights a common goal for improving digital solutions in the financial industry.

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