● The partnership brings two innovative platforms, BaaS and iPaaS, together.
● Equips companies with no-code tools to build delightful journeys for fintech products and solutions connected with Decentro’s APIs.
● Beneficial for MSMEs and SMBs with no developer or tech teams but wish to integrate banking and fintech solutions for their customers.
Bangalore : Decentro, a banking API Integration platform for businesses, today announced joining hands with Quickwork as its iPaaS partner to enable fintech companies to build workflows on top of various API solutions developed by Decentro. Using Quickwork’s no-code platform in tandem with Decentro’s APIs, multiple user journeys can be built in just a few seconds. This ultimately reduces manual entry, automates the workflow, and reduces the errors for multiple use cases like KYC & Onboarding, Virtual Accounts for Collections, Money disbursement, and UPI Payments.
The integration of Decentro & Quickwork brings together two innovative platforms – BaaS and iPaaS. While Decentro’s BaaS offers the ability to link with multiple banking/financial institutions and government databases, Quickwork iPaaS complements it by offering instant connections to 1000+ apps ranging from business, consumer, artificial intelligence, business intelligence, messaging, ERPs, CRMs, and more domains. Any company that wants to build an end-to-end user journey in the banking & financial domain via Decentro’s APIs, can now easily do it on their own using the drag-and-drop, no-code user interface of Quickwork.
For detailed context, typically, a company needs at least 3-4 developers working on a single banking integration for 4-8 months to go live while spending thousands of dollars per month. However, this partnership enables a single-person company (without any tech skills or background) to launch and market a basic financial web application in a matter of 1-2 days, without spending any capital. This, in turn, promises to encourage innovation and speed of implementation for new ideas in the market.
On the announcement of the partnership, Rohit Taneja, Founder & CEO, Decentro, said, “At Decentro, we are committed to providing a smart, and unified API platform that powers banking and financial solutions in an extremely seamless manner, and we’re thrilled to have Quickwork as our first iPaaS partner. Decentro and Quickwork share the same vision of empowering startups, fintechs, and even legacy financial institutions to achieve the highest degree of automation in their daily activities and product workflows. With this partnership, any company that has a shortage of developer bandwidth or doesn’t want to spend time integrating APIs can directly use our solutions via Quickwork’s dashboard with just a few clicks!”
Dr. Milind R. Agarwal, CEO, Quickwork, said, “Quickwork aims to be the de-facto enterprise PaaS which powers all high-quality fintech startups and companies. Our integration with Decentro will help us achieve our mission to build any financial or banking workflow automation in minutes. Since our platform works in real-time, fintech companies can also publish APIs and manage conversations between customers with human agents, chatbots, and IoT devices easily.
The announcement comes on the heels of the government’s latest effort to digitize the MSME sector in India. Nitin Gadkari, Minister of Micro, Small, and Medium Enterprise, emphasized the need for digital solutions to empower the sector and urged tech leaders to provide guidance. In the past few years, the Indian government has pushed out several initiatives to strengthen the MSME sector in India.
The rapid digitization and advancements in analytics, artificial intelligence, and automation are changing the way businesses operate. A business will be able to have seamless customer registration, interact with APIs anytime, identify risk in real-time, and create single or bulk loan applications. It can also smoothen the process of accessing information for employees. In addition, businesses will also maintain and service users at a much lower cost than conventional support tools.