FidyPay announces strategic alliance with YES BANK

By Leandra Monteiro

Full-stack FinTech API platform, FidyPay announced its strategic partnership with YES BANK. As part of the alliance, FidyPay will be enabling a seamless Connected Banking experience for YES Bank’s customers. Additionally, it will also be the Solution Provider for UPI services.

Built for Bharat, FidyPay is driven to extend a truly digital experience to a wide range of businesses, including SMEs, FinTechs, and start-ups. It has already completed some of the most sophisticated installations and deployments in the government departments, and corporative banks, in addition to a few accounting and ERP software installations. A strategic alliance with YES BANK is a significant leap for FidyPay, equipping it to cater to a wider market.

Commenting on the alliance, Ajay Rajan, Country Head, Transaction Banking Group, YES BANK said, “Collaborating with FidyPay is part of our overall Connected Banking strategy to make banking more inclusive and easily accessible to our diverse and growing consumer base. FidyPay’s comprehensive solution suite coupled with Bank’s digital enablement will provide customers a ubiquitous and seamless banking experience.”

Echoing a similar thought, Manan Dixit, Founder & CEO, FidyPay said, “We are looking forward to our association with YES BANK. Being one of the leaders in the digital banking space, this alliance enables us to deploy our solutions across multiple use cases. At FidyPay, we are driven to create an impact within the connected banking ecosystem. Given YES BANK’S dominance in developing digital-first strategies for MSMEs and SMEs, we are looking forward to serve a larger audience with our connected banking solutions.”

The FinTech is looking to hit 10 million SMEs, MSMEs through such banking collaborations plus an extensive network of Government channels which YES BANK has acquired over the year to enable them with Digital Payment Integrated solutions.

FidyPay is working with YES BANK on multiple use cases which include UPI, API Banking, prepaid cards, escrow accounts, PA licensing, eRUPI, amongst others. FidyPay will also be offering a wide array of digital YES BANK services to its clients.