"We are delighted to onboard Veefin as our technology partner as we begin our Supply Chain Finance journey in the country. With SMEs contributing ~ 30% to the GDP and the government aiming to increase this to 50%, this initiative aims to facilitate growth within this ecosystem. SCF has proven to be a form of SME lending that can help SMEs grow rapidly and thus increase their contribution to the economy. After examining multiple vendors, Veefin's expertise and high-quality technology led us to onboard them as our tech vendor in our SCF journey."
"Beginning our Supply Chain Finance journey is another step towards solidifying our commitment to our mission in providing timely credit to millions of MSME entrepreneurs in the country. Supply Chain Finance is the need of the hour to help MSMEs borrow using the safest form of lending possible today to avail credit customised to their requirements. I'm sure joining hands with Veefin Solutions will ensure a seamless process with contemporary technology resulting in enhanced customer experience."
"With the unmet credit needs of MSMEs estimated to be INR 20-25 Tn, the time has come to unify and collaborate for the national cause of supporting one of the most crucial pillars of the Indian economy. This project brings all the PSBs together as a cohesive force, powered by their combined balance sheet strength and resources, to reduce the cost of sourcing customers and expand their opportunity to provide access to credit. Veefin Solutions' domain expertise in SCF aligns with PSB Alliance's aim of providing the greatest technology platform for our partner institutions that is simple, unified, and expedites faster go-to-market."
"At YES BANK, we are constantly looking for innovative ways to support MSMEs and with growing significance of Supply Chain Financing (SCF) as a model to drive working capital efficiencies. We strongly felt the need to partner with Veefin and invest in a robust platform like 'SmartFin' to help augment our digital offerings in this space. The SmartFin platform through its end-to-end digital offerings, will help us drive required operational & financial efficiencies for all the stakeholders."
"This is yet another milestone in the Bank's digitization journey. The partnership with Veefin will help us boost efficiency and improve transparency in our loan processes. Our esteemed clients will be able to apply for any credit product using BK digital channels and will enjoy faster turnaround times."
"We at EBL understand the value of technology in creating optimal customer experience and partnering with Veefin has helped us in achieving our vision."
"Veefin embedded their solution within our ERP and ordering systems and allowed us to be the first and only corporate in Bangladesh to deal with multiple banks for our SCF business without leaving our platform. They have always been at the forefront of SCF thought leadership and have been a very responsive partner."
"City Bank over the years has grown to one of the leading Private Sector Banks in Bangladesh. Its mission 'Prospering Bangladesh' required a lot of transformation from fragmented IT system, manual process, analyzing data, operational Risk, and creation of new products. Veefin's solution helped the Bank in creating a straight-through process, and digitalizing the entire journey from customer acquisition to underwriting and transaction management. It helped us automate internal procedures, reporting systems, and Risk Management."
"Bangladesh Bank has approved guidelines for setting up and operating a digital platform for facilitating the financing of trade receivables of MSMEs from corporate and other buyers through multiple financiers. Veefin has been an amazing tech partner in implementing and building the digital platform from scratch and we were able to launch the platform within months with Veefin's Ready Go Live SCF Technology Products."
"Mintifi has scaled across 10 industry segments, 100+ enterprises across 9000+ distributors & dealers. The only way this would have been possible is with Veefin's very user-friendly platform where the capital user finds it hassle-free to transact which is convenient & swift. Veefin's capability in integrating with all the stakeholders Mintifi as Lender, Enterprise, and SMEs gives us an edge in growing our volumes."
"SCF is an area of great focus for IndusInd Bank. We extensively studied various SCF technology solutions in the market and finally zeroed in on Veefin to replace our existing SCF platform. Veefin's proposition as a tech partner that brought to us the complete onboarding to underwriting to loan management journey was superior to others and it helped us transition from manual, semi-digital processes to a state-of-the-art end to end digital process. The Veefin team has also been very responsive in their implementation and worked like a true partner. This has helped IndusInd extend its leadership position in the Indian SCF market."