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Vayana TradeXchange & YES BANK to facilitate trade finance solutions

By Gloria Mathias

April 05, 2024

  • APAC
  • Arqit
  • Arqit Quantum Inc

Vayana Trade Xchange, Arqit Quantum Inc, (Arqit), Fintech News, GIFT City, Trade Finance, Fintech News, Fintech Solutions, APAC, Yest Bank, MSME, SME, Fintech News, Fintech Solutions, Fintech India, Vayana TradeXchange (VTX), an International Trade Finance Service (ITFS) platform has inked a partnership agreement with YES BANK, to transform the global trade finance landscape.

The alliance will offer competitively priced credit solutions to both buyers and sellers on the VTX platform marking a spur in export factoring operations. The synergy between YES BANK’s comprehensive financial expertise and VTX’s innovative auction-based marketplace establishes a transformative ecosystem for trade finance.

The two entities will deliver seamless access to a diverse range of trade finance products, enabling businesses of all sizes to adeptly handle trade receivables and payables.

This move marks an advancement for YES BANK in export factoring transactions, paving the way for newer opportunities for Indian exporters and resulting in increased growth volumes of factoring in India.

Ajay Rajan, Country Head – Government, Multinational & International Business, Transaction Banking & Knowledge Units, YES BANK, said, “We are excited to collaborate with Vayana TradeXchange to offer innovative financing solutions to MSMEs, the backbone of the Indian economy. This partnership reaffirms YES BANK’s commitment to empowering Indian businesses to take their businesses globally. Our joint effort is a strategic step towards supporting India’s vision of becoming a $5 trillion economy, nurturing sustainable growth and prosperity for all. This partnership reaffirms YES BANK’s commitment to fostering financial innovation, being the first Bank to transact on the VTX platform and we believe such partnerships and solutions could provide the much-needed boost to India’s MSME exports contribution.”

Kalyan Basu, MD and CEO of VTX said, “Using YES BANK’s expertise, we aim to facilitate affordable credit to MSMEs. We strongly believe this partnership will be a game-changer for international trade finance, aligning with the government’s vision to make GIFT City a global trade finance hub. As India strives to become the world’s third-largest economy and a developed nation, empowering MSMEs is critical. By capturing the domestic market and scaling up production, these businesses can unlock the power of economies of scale, propelling India’s economic growth.”

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