“Our role at Visa gave us a global perspective in terms of what is working in the markets and you are also able to relate to the local businesses that are running around you. As founders we realised that while everyone wants to have a share in the digital pie, it was difficult to convince both the banks and businesses to jump on an entirely new digital strategy,” echo the founders who call it as lego banking platform.

“The pieces to assemble remained the same; it’s how you assemble made the difference,” says Madhusudanan. So, they fit pieces of different bits of banking together, yet delivering an entirely different solution every time, in line with the needs of the banks and businesses together. They have expanded their footprint across Asia with operations spanning from New Zealand in the east to Egypt in West Asia. “We aim to reach 500 fintech companies in the coming year covering 15 different countries.”

“In the business we are in, we face competition from global players, while we don’t have direct competition, in many ways we compete with banks or other technology companies,” says Muthukumar.

The business they are in is relatively a new segment globally. Fintech and Neo-bank are a large market with various Neo-Banking and Fintech solutions that can be explored. “We can and cannot at the same time compare our solution with other companies even though they belong to the same industry,” says Prabhu.

“When we partnered with YAP, we experienced great synergies which enabled us to cooperate, co-create and launch many products as well as solutions in a very short time. Our wavelength matched and hence we could collaborate effectively,” observes Ritesh Pai, chief digital officer, YES Bank.

“Before partnering with YAP we have evaluated quite a few other options and we found that YAP was the most unique and professional. It has helped us tremendously and has supported us to a very large extent; YAP is perfect for us to work with.” says Pei-Fu Hsieh, co-founder, Karbon Card.

In 2019, YAP expanded to the UAE and the Philippines. And this year, it launched in Nepal, Singapore, Australia, and New Zealand. It has partnerships with nine banks in these countries, however 95 per cent of business comes from India. “These expansions were aimed to spread YAPs wings and make sure that they are present at a time when business platforms need something that they offer,” sums up Madhusudanan who expects International markets to contribute meaningfully to the bottomline. “We expect about 20 per cent of revenues coming from international operations this year, likely to grow to over 50 per cent in three years.”