North-India based Shivalik Small Finance Bank has joined hands with fintech company Falcon for developing financial products like instant Digital FDs and savings accounts, both companies said in a joint statement.
The partnership will help develop a tech platform that outperforms legacy systems and enables the bank along with tech companies, the statement said.
“The next-gen platform, powered by Falcon, will minimize the cost and time required for product launches by the bank and its partners. The platform comes pre-equipped with no-code mobile and web apps, secure SDKs, and APIs,” the statement added.
Talking about the partnership with Shivalik Bank, Priyanka Kanwar, Falcon’s Co-Founder, and CEO, said: “Our partnership with Shivalik Small Finance Bank is a significant step in our shared journey towards shaping the future of finance. We are confident that banks like Shivalik will pave the path to India’s banking revolution and we’re excited to propel that growth. With plans to introduce multiple industry-first products.”
Anshul Swami, Managing Director of Shivalik Small Finance Bank said: “We have a strong ambition of becoming one of the most innovative digital-first banks in India. We strongly believe that the launch of our neo-banking stack, in association with Falcon, will help us build operational efficiencies, introduce innovative product lines with faster go-to-market time, and scale to the next level.”
