Niyo Solutions: Enabling Safer, Smarter and Hassel Free Banking Experience
According to EY fintech survey 2019, India is among the top fintech adopters globally with the adoption rate of 87% among the survey respondents. The rising demand for simple, convenient and secure products and services, coupled with low levels of affinity for traditional banking service providers, especially among younger, upwardly mobile consumer segments such as millennials and generation Z, has encouraged the fintech ecosystem in India to offer a wide suite of innovative products and services, and capture consumer mindshare, driving acceptance and usage.Niyo Solutions is India’s first and largest neo-bank operating across two major business verticals Niyo Bharat and Niyo Globaland entire range of card platforms like prepaid, debit card and credit card. The company aims at providing world class digital banking solutions to people by leveraging technology in different areas like payroll, benefits, travel, credit, insurance and investments. It operates in multiple business verticals including PAN India sales and distribution strength and brings full stack technology, product and operational capabilities to manage the entire customer lifecycle.
Catering Banking Services to the Global Citizen
Niyo Benefit is one stop solution for all tax saving avenues for corporate employees, with separate pockets for tax exempt categories such as food, fuel, travel (exclude travel allowance), mobile and flexi (for other spends). It allows corporate employees to seamlessly manage the tax exempt employee allowance and expenses claimed by employees, while providing a single stop solution for employees to enjoy financial savings through tax exempt allowance.
“We have highly qualified and experienced management team, who have worked in leading banks and financial institutions such as Chartered BANK, Kotak Mahindra Bank, ICICI Bank, American Express, Goldman Sachs, Mobiqwik; consulting firms such as EY and Deloitte, travel players
such as MakeMyTrip and Musafir,” says Vinay Bagri, CEO & Co-Founder, Niyo Solutions.
Nowadays more numbers of people are travelling to foreign countries with higher disposable income and much greater awareness and exposure. Thus, cross-border travel payment is undergoing a transformational change. Previously, travellers have always relied on forex currencies as cash or traveller’s cheque, which is very expensive, cumbersome and risky to carry. This is where Niyo Global Card, a one of its kind solution which has global acceptance at ATMs, merchant location (POS) and online/ecommerce transactions in more than 150 countries. It is a Rupee denominated card issued in partnership with DCB Bank and allows customers to transfer money on the go in Indian currency from his/her bank account into the Niyo Global Card using the mobile app through UPI or IMPS and transact seamlessly anywhere in the world.
“Our deep understanding of financial services and travel domain as well as technology leadership has helped us build an extensive range of capabilities to serve the entire customer life-cycle in a scalable and efficient manner. We are today India’s first and largest neo-bank and are confident of building a world class neo-bank which benchmarks itself with global standards but has an Indian hear and DNA,” says Vinay Bagri.
Nowadays more numbers of people are travelling to foreign countries with higher disposable income and much greater awareness and exposure. Thus, cross-border travel payment is undergoing a transformational change. Previously, travellers have always relied on forex currencies as cash or traveller’s cheque, which is very expensive, cumbersome and risky to carry. This is where Niyo Global Card, a one of its kind solution which has global acceptance at ATMs, merchant location (POS) and online/ecommerce transactions in more than 150 countries. It is a Rupee denominated card issued in partnership with DCB Bank and allows customers to transfer money on the go in Indian currency from his/her bank account into the Niyo Global Card using the mobile app through UPI or IMPS and transact seamlessly anywhere in the world.
Niyo Solution is also working on several projects on product innovation and business expansion in international markets across both the business verticals. It is building an entire SME banking and servicing suite which will cater to the banking as well as HR tech needs of the clients in the areas like payroll software, attendance module, SME lending, insurance, bank transfers to any other bank account.
Our deep understanding of financial services and travel domain as well as technology leadership has helped us build an extensive range of capabilities to serve the entire customer life-cycle in a scalable and efficient manner.
“Our deep understanding of financial services and travel domain as well as technology leadership has helped us build an extensive range of capabilities to serve the entire customer life-cycle in a scalable and efficient manner. We are today India’s first and largest neo-bank and are confident of building a world class neo-bank which benchmarks itself with global standards but has an Indian hear and DNA,” says Vinay Bagri.
