Business Update- State Bank of India (SBI) has signed up for the world''s largesr SCF platform through PSBXchange, powered by Veefin
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Veefin Solutions has announced that State Bank of India has signed up for PSBXchange, described as the world's largest unified Supply Chain Finance (SCF) platform. PSBXchange is a PSB Alliance initiative developed and powered by Veefin's technology. The platform aims to become a common technology bridge connecting banks, NBFCs, fintechs, B2B marketplaces, and accounting service providers with core banking systems to enable MSME financing. This is positioned as a global-first unified platform for supply chain finance and small business loans in India.
Positive for Veefin shareholders — onboarding India's largest bank (SBI) to a platform powered by Veefin's technology is a significant validation and a major business win that could drive future revenue and platform adoption, though no specific financial numbers were disclosed.