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India’s Yes Bank draws on Zaggle to launch credit cards with spend management capabilities

Date:

Yes Bank and Zaggle are collaborating to launch a corporate credit card with spend management features in India, catering to the growing need for efficient corporate spend management in the country.

Facts

  • Yes Bank, based in Mumbai, India, is partnering with Software-as-a-Service (SaaS) fintech Zaggle to introduce a corporate credit card.
  • The card is integrated with Zaggle’s real-time spend analytics platform, Zaggle ZatiX, allowing businesses to perform transactions, set spending limits, and apply merchant category restrictions.
  • The integration aims to help account holders discover cost-saving opportunities, enhance budgeting accuracy, and optimize working capital management.
  • Rajan Pental, the bank’s executive director, views this offering as a way to provide upfront savings on business expenses.
  • The partnership aligns with the Indian Government’s goal of improving the ease of doing business in the country.
  • B2B spending in India is projected to exceed $15 trillion by 2030, making corporate spend management crucial and positioning this collaboration for significant market share.
  • Avinash Godkhindi, CEO of Zaggle, believes that the corporate travel and entertainment sector is ripe for disruption, especially with the increasing demand for real-time spend analytics.
  • This launch is part of Yes Bank’s ongoing efforts to digitize its corporate services, following a previous partnership with IBSFintech in 2022 for paperless communication channels.

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