India’s Yes Bank draws on Zaggle to launch credit cards with spend management capabilities
Yes Bank, a full-service commercial bank based in Mumbai, India, is launching a corporate credit card with spend management features in partnership with Software-as-a-Service (SaaS) fintech Zaggle.
Yes Bank and Zaggle launch corporate credit card
The offering is linked with the fintech’s real-time spend analytics platform, Zaggle ZatiX, which enables businesses to complete transactions and manage expenditure with the ability to set spending limits and apply merchant category restrictions.
Providing insights into commercial overheads, the integration seeks to enable account holders to “uncover potential cost-saving opportunities, improve budgeting accuracy and optimally manage working capital”.
Rajan Pental, the bank’s executive director, describes the offering as “a compelling proposition that offers upfront savings on business spends”.
“The partnership with Zaggle resonates our effort at delivering solutions that supports the Government’s vision of facilitating ‘ease of doing business’ within the country,” he adds.
According to Kearney, B2B spending in India is expected to top $15 trillion by 2030, which not only makes corporate spend management capabilities more necessary, but places the partnership in a position to gain a considerable market share.
“The corporate travel and entertainment (T&E) space is ripe for disruption as businesses increasingly demand real-time analytics to better manage spends, an industry need that we believe remains unmet,” says Avinash Godkhindi, managing director and CEO of Zaggle.
The launch marks the latest development in the digitisation of the bank’s corporate services, following a similar partnership with the treasury tech solution provider IBSFintech in 2022 to instigate paperless communication channels.
