ICICI Bank and Decentro partner to offer business banking APIs

By Leandra Monteiro

Decentro, a full-stack API banking platform, has partnered with ICICI Bank, a private sector bank in India, to offer customised business banking APIs to FinTechs, start-ups, corporates and e-commerce companies. With this partnership, Decentro has integrated ICICI Bank’s seven business banking APIs from categories like accounts, payments and collections. It has further bundled these APIs together to offer a comprehensive package to the end customer.

With this, any FinTech, start-up and corporate can now enjoy instant and secured access to customised business banking APIs on top of ICICI Bank. It significantly enhances convenience for companies as they can now access all business banking solutions seamlessly through Decentro, rather than integrating different business banking APIs, thereby saving their time and costs.

Rohit Taneja, Founder & CEO, Decentro said, “Interestingly, we are also celebrating our first year official anniversary as a company this week. The number of API transactions on our platform have grown by ~ 12X in just nine months since our first product launch in July last year, and the number of new customers have grown by more than 40% month over month. We are thrilled to be building this crucial infrastructure for the upcoming fintech revolution and are super proud to be backed by some of the smartest investors in the world. With this new product, we are looking to empower existing as well as new categories of ventures like SME Service Providers, Accounting firms, B2B marketplaces, and more across the country.”

Speaking on the partnership, Pankaj Gadgil, Head- Self Employed Segment, ICICI Bank said, “At ICICI Bank, we have always strived to create a seamless banking experience for our customers. We are delighted to partner with Decentro to bring forth an integrated API banking solution to several businesses, fintechs, corporates and e-commerce start-ups and co- create innovative customer solutions in a frictionless manner. With this integration, Decentro can now offer a bouquet of banking APIs from ICICI Bank along with various other non-banking APIs to the customers. We believe that this association will boost productivity for businesses, as they can now expect API banking solutions tailored for their specific requirement quickly.”

“We’re aligning ourselves as an API infrastructure layer for fintech (similar to AWS) and are building products in line with the expectations of customers, marketplaces, gig economy platforms, small businesses, as well as corporates. We will use this additional capital and our bank integrations to go deeper into our product suite as well as cover more customer segments over the next couple of years,” shared Pratik Daudkhane, the company’s co-founder, who was earlier a venture capitalist.