IndusInd Bank partners with M2P to offer digital first products
By Leandra Monteiro
IndusInd Bank has collaborated with M2P Fintech, a global leader in embedded API infrastructure to roll out customer value propositions across payments and lending solutions.
Madhusudanan R, Co-Founder and CEO of M2P Fintech said, “We are excited to work with IndusInd Bank on their digital journey, bringing to fore the best of technology that we have carefully crafted over the years to deliver a superior user experience. I’m confident that this program will compete with the best of what fintechs have to offer while ensuring security and convenience for the users”.
Last year, the Bank announced its plans to launch a unique, personalized experience led customer value proposition as part of ‘IndusInd Bank – Digital 2.0’ strategy. The Bank is continuing its focus on building digital first and digital only business models further expanding its digital suite of products.
The Bank will leverage M2P’s technology backed by analytics to deliver hyper-personalised offering across payments and lending, making these solutions a first of their kind in India.
Speaking about the bank’s digital journey, Charu Mathur, Head – Digital Banking & Strategy, IndusInd Bank said, “In line with our vision to launch end to end digital value propositions which are personalized and experience led, we are working with various ecosystem players to bring best of breed solutions in personal finance management and innovative products across payments, lending and wealth management to our clients. With M2P fintech, we have the potential to completely re-invent the consumer experience given the high degree of agility, modularity and scalability of the stack and API nativeness and composability of it. M2P will be a strong asset to our ecosystem to deliver banking and payments the way customers want”.
The Bank will draw from M2P’s experience in enabling hundreds of FinTechs across Asia to deliver embedded customer journeys. M2P’s fully equipped API infrastructure enables the Bank to develop innovative products/experiences on top of Bank’s core banking system (CBS). This partnership will bring together the flexibility of an agile technology stack with the robustness and governance of the Bank’s CBS. With M2P’s reach and platform execution, the network effects accruing on the platform are immense, thereby bringing unique capabilities that can be leveraged to deliver experiences co-created with the participating partners.
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September 29, 2023