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Veefin Solutions announced that four major public sector banks — Bank of Baroda, Central Bank of India, Indian Overseas Bank, and UCO Bank — have signed up for PSBXchange, described as the world's largest unified Supply Chain Finance (SCF) platform, developed by PSB Alliance and powered by Veefin's technology. The platform aims to transform MSME financing in India by connecting fintechs, B2B marketplaces, accounting service providers, and data providers with the core banking systems of multiple lenders. Veefin positions this as a common technology bridge for banks and NBFCs to source and provide supply chain finance and small business loans. The company did not disclose deal values, revenue impact, or timelines in this update.
This is a strong credibility win for Veefin, onboarding four large PSU banks onto its platform, which could translate into meaningful recurring revenue as SCF volumes scale. However, without disclosed financial terms, the near-term stock impact may be sentiment-driven rather than earnings-driven.