SBM Bank(India) collaborates with EnKash to empower aspiring business owners through technology
Mumbai, February 11, 2020: SBM Bank (India) today announced the launch of the state-of-the-art Corporate Credit and Expense Management Solution, in partnership with EnKash – a leading fintech in the country.
This product shall enable Easy to Access, Customised and Affordable Expense Management solutions catering to diverse segments within SMBs, MSMEs and Start-ups. It is designed to manage day-to-day expenses of corporates including travel bookings, food, fuel, entertainment, bill payments, vendor payments, GST payments and other activities. Each Freedom Corporate Credit Card comes with a complimentary first-of-its-kind WhatsApp based expense management tool, which is designed to make the process frictionless with features such as on-the-go control and real-time visibility of transactions, to name a few.
Commenting on the launch, Mr Neeraj Sinha, Head, Consumer & Retail Banking, SBM Bank (India) said, "With this partnership, we further re-affirm our commitment towards Collaborative Banking. We believe that through the alliance with like-minded companies, having excelled in technology and innovative solutions, we can together solve our Customer’s business challenges. We endeavour to provide solutions to the yet underserved segment comprising of millions of MSMEs and SMBs. Through our partnership with EnKash, we are taking a first but an important step towards democratising a premium banking experience for the aspirational and growing customer segment."
Naveen Bindal, Co-Founder, EnKash, said, "SBM Bank (India) and EnKash partnership is a great example of how banks and Fintechs can partner to bring the right products to market and innovate faster. With EnKash's deep understanding of cards domain, modern technology and SBM's customer trust, we believe this partnership will be a great success."
The Freedom Card introduced by EnKash last year saw an overwhelming response within a few months of launch. Presently more than 50K businesses are using EnKash for business expenses without having to block their personal credit lines. With the launch of this new card which has been developed with specific features to cater to businesses of different size and sectors., EnKash aims to make corporate payments completely digital, real-time and completely hassle-free. Further to this, EnKash is also introducing an industry-first tech-innovation to safeguard companies from fraudulent transactions, by allowing them to track, control or restrict transactions as per the requirements.