Good news for startups, fintech firms, merchants! This is what DCB Bank has done

In a big move that will help startups, fintech firms, merchants, enterprises and developers, DCB Bank has launched a platform dedicated to serve their needs. DCB Bank has announced the launch of its Open Banking Platform to create a collaborative ecosystem with enterprises, fintechs, startups, app developers. Over 20 startups, fintechs, merchants, enterprises and developers will partner DCB Bank for access to its Open Banking Platform APIs as well as collaboration on innovation and customer-centric products, the bank said.

The Open Banking Platform APIs will provide seamless integration of banking services by improving the existing banking technology infrastructure. DCB Bank in a statement said that this platform will help meet the growing demand for innovative solutions from new-age customers.

DCB Bank runs a global innovation programme — DCB Bank Innovation Carnival — wherein it nurtures a strong relationship with the fintech and startup ecosystem. The Open Banking Platform will further strengthen this ecosystem and allow fintechs and startups to test their innovations quickly and efficiently, the bank said.

Shilpa Bhatia, founder of The Clothing Rental, said, “India will soon be a cashless economy and such initiatives will advance the customer service delivery." Also with banking now more advanced the process can be easier and advanced, she said.

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DCB Bank Managing Director and CEO Murali Natrajan said, “Open Banking Platform is the way forward for banking in the digital and e-service era. We are delighted to offer this innovative ecosystem with the help of  fintechs and startups, enabling us to service our customers in new and better ways. We will move cautiously at first and expand the Platform as we gain experience.”

 R. Venkattesh, President, DCB Bank, said, “Our Open Banking Platform will help us improve our products and services and also reach out to new customer segments. We are happy to partner fintechs, startups, merchants and other enterprises, which are helping us bring a new perspective to banking.”