Infibeam Avenues Ltd., an AI-powered listed fintech company and provider of innovative payment solutions, announced a strategic partnership between its flagship payment brand, CCAvenue, and Shivalik Small Finance Bank.
Under the agreement, CCAvenue will integrate Shivalik Small Finance Bank's internet banking option into its comprehensive payment platform. Merchants using CCAvenue's services will soon have access to a vast customer base from Shivalik Small Finance Bank, thereby significantly augmenting their business potential.
The partnership benefits not only merchants but also Shivalik Small Finance Bank's account holders. With this integration, account holders will be able to make seamless payments on numerous websites powered by CCAvenue, as per a company statement.
Shivalik Small Finance Bank facilitates banking solutions for retail and MSME customer segments. Founded in 1998, Shivalik became the first small finance bank in India to transition from an urban cooperative bank.
The bank says that it has over 6 lakh loyal customers and a presence across 164+ customer touchpoints spanning states such as Uttar Pradesh, Uttarakhand, Madhya Pradesh, the National Capital Region (NCR), Telangana, and Haryana. Shivalik continues to lead the way in digital banking innovation. It is also the first small finance bank in India to have transitioned from an urban cooperative bank. The bank is technology-focused and powered by Infosys Finacle Core Banking and Digital Banking Suite.
"The digital transformation and progress in India’s banking sector are epitomised by banks like Shivalik Bank, which has recently unveiled its Next-Gen Fintech Platform. CCAvenue’s partnership with Shivalik Bank is anticipated to provide lucrative opportunities for lakhs of online entities in India for accelerating their business growth,” said Mr. T. Nandakumar Menon, Sr. Vice President, Alliances and Operations, Infibeam Avenues Ltd.
