Making Fintech Great Again - Interview with Startups of the Year Nominee, Decentro

Hey Hackers,

Decentro has been nominated in HackerNoon's annual Startup of the Year awards in Singapore.

Please vote for us here: https://hackernoon.com/startups/asia/asia-singapore-singapore

Read more about us below to understand why we deserve your vote.

Meet Decentro

Your full-stack platform which allows users to select the desired modules, play in the sandbox and launch the product using APIs and SDKs in days and weeks.

Our offerings, ranging from KYC and Onboarding, Payments, Card issuance, and much more, have relentlessly empowered ~ 500 companies across FinTech and Banking space across India and Singapore. We have also created our unique brand value through a collaborative approach of enabling the fintech ecosystem from the ground up. Case in point, we have partnered with some top banks, such as Yes Bank and ICICI Bank in India, to enable seamless API connectivity and a swift money flow.

The simple plug-and-play APIs and SDKs allow the users to witness the potential of a frictionless flow of money and financial data in a simple format with the highest degree of automation.

The resolve remains the same.

Let’s Make Fintech Great Again!

How We're Disrupting/Improving the Banking and Payments Industry?

We are in an era where one-tap payments compete fiercely against one-click payments, making this space the poster child of innovation. Yet, in the larger scheme of things, the Banking system operates on a traditionally sluggish process. This obsolete banking integration system hampers a company’s ability to launch its product. This leaves room for innovators to redefine how banks and financial institutions launch their products. We at Decentro aspire to be one of those platforms built to be a bridge of efficiency. A bridge that simultaneously enables legacy institutions and businesses to operate in the ecosystem.

With Decentro, one can sign up as a company/developer. They can then select the desired financial modules, play in the sandbox, and launch the product or service with APIs and SDKs within a few weeks. The payoff? These companies can save significant time in banking integration and focus on faster go-to-market strategies. Over the past 12 months, our Annual Recurring Revenue has grown an astounding 4X since the summer of 2022. Our total number of customers has tripled, demonstrating the increasing demand for our innovative solutions. We wanted to be the enablers of the inevitable digital-first future. Two years in, our products continue to do that.

Standing Out from The Crowd

“Think in decades, and not in years.”

To quote our Founder and CEO Rohit Taneja, who has over 10 years of experience in the payments and banking ecosystem, has allowed a pandemic-incepted organization to stay ahead of the curve.

Until now, we at Decentro have been solving dedicated use cases. The need to solve for a complete user journey was the obvious next step that paved the way for the bifurcation and launch of full-stack payments and banking modules, namely, Fabric and Flow. We cater to the new age use cases and companies needing a relatively well-evolved, stitched stack suited to enable white label and embedded workflows for financial products rather than standard payment gateways in the market.

From identifying the need to be a robust, reliable, cost-effective banking infrastructure for our customers to graduating to full-stack solutions, the dynamic nature of our offerings makes us one of a kind.

Our Predictions/Thoughts on the Banking and Payments Industry in 2023

2022 was the year when regulators and customers alike witnessed the impact of open banking initiatives. The natural extension of the open banking service is bleeding into Open Finance. Open finance’s potential in terms of opening up data sharing for new cross-industry business models beyond just banking products and service is unsurmountable. This, combined with the potential of AI/ML, brings more “closed-loop” solutions powered by fast and intuitive data collection. So purely from a technological standpoint, these two behemoths will allow solutions operating in the banking and finance space to achieve a 360-degree view of their customer’s needs, providing them with contextually relevant information about discounts or personalized offers.

The common thread across the offerings this year would be stakeholders trying to keep up with the demands of a technology’s native customer base. In 2023, the ability to anticipate customer needs and provide great experiences will act as the differentiator for the players in the space.

What word defines the state of Banking and Payments in 2023?

2023 is the year of access and inclusion for banking and payments. Fintech companies have been consistently reshaping the banking and payments landscape by offering innovative solutions in areas such as digital wallets, peer-to-peer lending, AI-advisory services, and alternative payment methods. However, the focus now is to ensure these offerings are accessible beyond the unbanked segments.

Innovation is generally tethered to revolution till it breaks the 4th wall of accessibility.

Efforts to promote financial inclusion continue, focusing on expanding access to banking and payment services for underserved populations. Fintech organizations of tomorrow, like us, are leveraging technology to bring financial services to unbanked and underbanked individuals in developed and developing economies. Governments and financial institutions are investing in developing digital payment infrastructure, such as payment gateways, interoperable systems, and digital identity platforms. These initiatives aim to create a robust ecosystem that enables secure and convenient digital transactions for all individuals, including those in underserved areas.

Final Thoughts

With HackerNoon’s Startup of the Year awards, we have had the opportunity to witness the disruption all other nominees have been causing to the space.

Access to such an inspiring room not only pushes us to work harder but also instills a sense of pride in being part of a diverse and accomplished cohort.

It’s been only 3 years since our inception, but we can’t wait to embark on the next phase of our growth, with the vision remaining the same,

Making Fintech Great Again!