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Veefin & Tagit enters strategic partnership to offer digital lending solutions

By Gloria Mathias

October 04, 2023

  • Core Banking
  • Corporate Banking
  • Digital Banking

Veefin, TagIt, Singapore, Corporate Banking, Supply Chain Financing, Core banking, Veefin Solutions, a global Supply Chain Finance solutions, and Singapore-based Tagit, a leading digital banking solutions provider have announced a strategic partnership.

Under the alliance, Tagit and Veefin will combine their industry-leading technologies to develop cutting-edge solutions that cater to the evolving needs of corporate clients and supply chain stakeholders.

This partnership seeks to accelerate digital transformation, streamline financial processes, and optimize working capital management for SMEs and corporate customers of banks.

Raja Debnath, Managing Director, Veefin Solutions Ltd. said, “Our partnership with Tagit will enable us to offer banks with state-of-the-art digital lending solutions. With both platforms combined, we will now be able to offer an end-to-end solution that will allow banks and financial institutions to manage their digital lending and banking needs seamlessly.”

Sandeep Bagaria, CEO of Tagit said, “Tagit is dedicated to delivering a comprehensive range of solutions to empower banks in serving their corporate clientele. The partnership between Tagit and Veefin represents a significant step in expanding Tagit’s portfolio of offerings available to our valued clients.”

Key benefits of the partnership include:

  • Digitization and Automation: By leveraging cutting-edge technologies, the partnership will drive digitization and automation of financial processes, leading to increased operational efficiency and reduced administrative burden for businesses.
  • Working Capital Optimization: Businesses will gain access to innovative working capital management tools, allowing them to optimize cash flow, unlock liquidity, and improve financial stability.
  • Global Reach and Expansion: The combined global presence will open new markets and enable banks around the world to benefit from state-of-the-art financial solutions.
  • Enhanced Risk Management Capabilities: By leveraging the expertise of both companies, banks will be better equipped to assess credit risks, monitor supply chain transactions, and make more informed lending decisions, ultimately reducing potential financial risks.
  • Seamless Integration and Scalability: The joint solutions will be designed to seamlessly integrate with existing banking systems and processes, ensuring a smooth transition for banks as they adopt the new technologies. Moreover, the solutions will be scalable, allowing banks to expand their offerings and cater to a growing customer base without significant infrastructure overhauls.

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