Yes Bank deploys Veefin’s SmartFin supply chain finance solution

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Yes Bank has announced the launch of SmartFin, an end-to-end digital supply chain finance (SCF) platform, powered by Veefin Solutions. 

Ajay Rajan, country head-government, multinational & international business, transaction banking & knowledge units, Yes Bank, said, “At Yes Bank, we are constantly looking for innovative ways to support MSMEs and with the growing significance of Supply Chain Financing (SCF) as a model to drive working capital efficiencies, we felt the need to invest in a robust platform like ‘SmartFin’ to help augment our digital offerings in this space. The SmartFin platform, through its end-to-end digital offerings, will help us drive the required operational & financial efficiencies for all stakeholders.”

Raja Debnath, Managing Director, Veefin Solutions Ltd, said, “After collaborating with banks worldwide, integrating our solution with Yes Bank has been among the most seamless experiences, a true testament to its commitment in adopting digital innovations and being fintech friendly. Veefin continues investing in its SCF product capabilities to see that our clients have the latest SCF technology in the market.” 

Yes Bank stock traded at ₹24.69 on the BSE, down by 0.88 per cent as of 11:46 am.