Veefin Leads in Supply Chain Finance Innovation: IBSi Spectrum Q4 2023 Report Unveils Key Market Insights

Veefin Solutions, a leading provider of supply chain finance solutions, has been announced as an industry leader in the latest IBSi Spectrum Report for Q4 2023. The report is an authoritative analysis of the global supply chain finance (SCF) sector comprising of analysis across 30 vendors internationally, highlights Veefin's innovative approach and significant contributions to the industry. It offers in-depth evaluations of vendor capabilities, market dynamics, and technological advancements. Key findings of the report underscore the growing importance of digital transformation in the supply chain finance industry, where Veefin emerges as a frontrunner.

Excerpts from the IBSi Spectrum Report

The IBSi Spectrum Report for Q4 2023 provides a comprehensive overview of the current trends and future directions in the SCF sector.

“Veefin is a comprehensive SCF technology provider, offering an end-to-end product stack that unifies various requirements into a single platform. Its solution comprises components such as customer onboarding, underwriting, and transaction management, which can be seamlessly integrated with the bank's core banking system. The system can leverage third party APIs for features like eKYC, client data retrieval, and OCR.”

“Veefin's low code workflow manager allows banks to customize workflows for various SCF products, ensuring flexibility and easy modifications to changing market and regulatory requirements at no additional spending for the financial institution. Veefin's recent partnership with the Public Sector Bank Alliance in India provides banks and non-banking financial corporations (NBFCs) streamlined access to SME customers across various platforms, enhancing efficiency and positioning Veefin as one of the industry leaders.”

Veefin’s Pioneering Role

Raja Debnath - Managing Director, Veefin Solutions said "Veefin was founded with a clear goal: to simplify and digitize Supply Chain Finance (SCF) for bankers in a world where access to finance for MSMEs is becoming increasingly difficult. We have revolutionized the industry with our world’s first End-to-End SCF stack and innovative SaaS pricing approach. Financial Institutions from large banks to smaller fintechs have all benefitted at large from this model. This has now enabled lenders of all sizes to be a part of the SCF ecosystem, thereby fostering the expansion of the SCF market worldwide. As a result, Veefin has emerged as a global industry leader."

Veefin has a global clientele of over 40 financial institutions globally that currently use their solution. Veefin’s end-to-end stack is reshaping the SCF landscape, providing unparalleled opportunities for banks to streamline their financial operations by bringing all the users on a single platform. The report highlights Veefin's commitment to reducing the access to finance gap for SMEs globally by enhancing liquidity, reducing risks, and improving supply chain resilience, marking a significant leap forward in the SCF industry.

Veefin Solutions Contact: