LeRemitt launches its Cross-Border Platform for MSMEs in Partnership with YES BANK

Mumbai, January xx, 2024: LeRemitt, in partnership with YES BANK, has developed a user-friendly platform that enables MSME players to easily conduct international transactions in key currencies such as USD, EURO, GBP, and CAD. This innovative solution simplifies cross-border payments, making global business more accessible for small and medium-sized enterprises.

The platform is specifically designed to meet the distinctive needs of MSMEs engaged in global trade. This launch marks a significant stride in revolutionising cross-border financial services, offering MSMEs unparalleled transparency, efficiency, and cost benefits.

Key Features of the LeRemitt Platform:

Multi-currency support: Facilitates transactions in USD, EURO, GBP, and CAD, providing businesses with flexibility in international trade.

Enhanced efficiency and transparency: Utilising advanced technology, the platform simplifies the international payment process, reducing complexities and ensuring transparency at every step.

Cost advantage: MSMEs gain from transparent exchange rates and competitive transaction costs, thereby enhancing overall cost efficiency in cross-border transactions.

Personalised support: LeRemitt is dedicated to offering tailored assistance and guidance to its MSME clients throughout their international transactions.

Operating under the RBI-regulated Online Payment Gateway Service Provider (OPGSP) framework, LeRemitt assures compliance with regulatory standards and best practices. Founded in 2022 and backed by renowned venture capital firms like Axilor and Capital A, the company stands as a credible and committed player in the Fintech space.

Ms. Sheetal Jain, Co-founder & CEO of LeRemitt, shared her views on the launch, stating, "We are excited to introduce our cross-border platform in partnership with YES BANK. This collaboration highlights our dedication to empowering MSMEs by providing a seamless, efficient, and cost-effective international payments solution. With our strong regulatory framework and support from distinguished investors, we are poised to make a significant impact on international trade in the future."

Mr. Ajay Rajan, Country Head, Government, Multinational & International Business, Transaction Banking & Knowledge Units, YES BANK, said in a statement, “YES Bank has always been at the forefront in deploying cutting-edge technology and this product offering in partnership with LeRemitt is another testament to the bank’s success by redefining the landscape of international trade. The product offers expedited & cost-effective transaction processing and contributes towards government’s aim of boosting the MSME sector and transforming India into a global export powerhouse.”      

LeRemitt aims to expand its services, addressing various facets of international trade and reinforcing its role as a comprehensive solution provider for globally-engaged MSMEs.

About YES BANK

YES BANK, a full-service commercial bank, offers a broad spectrum of products, services, and digital solutions for retail, MSME, and corporate clients. Operating investment banking, merchant banking, and brokerage businesses through its subsidiary YES SECURITIES, the bank is headquartered in Mumbai, with a Pan-India presence including an IBU at GIFT City and a Representative Office in Abu Dhabi.

For more information, visit http://www.yesbank.in/

Follow YES BANK on Twitter @YESBANK