Digital Seller Financing
Collaboration with Amazon to offer collateral-free working capital loan to over 2 Lac sellers on the latter's platform.
Alternate Data Based Underwriting
Tie-up with CreditMantri for technology that helps Bank to draw data of our SME merchants and assess the customers on the strength of personal and business data points. Also helpful in offering low ticket credit products to first time borrowers and gradually capture other business requirements from them.
Bank of Baroda partnered with UBER, to finance individuals desirous of owning a vehicle and attaching it to UBER's platform. This initiative is promoting "Start up India" Scheme by plummeting entry barrier to financing and fostering drivers to become entrepreneurs.
GST Enabled Accounting Solution
Tie-up arrangement with Versify to offer their ready built GST enabled accounting software as 3rd party product to our customers on monthly subscription basis.
Bank of Baroda has partnered with SIDBI for mentoring and supporting the MSE ecosystem. A bankability kit is designed enabling MSEs to evolve as bankable entities. This kit features different themes ‘Know Enterprising Self ’, ‘Know your Banker’ and ‘Know Banking’. The kit helps to look beyond financial literacy of aspirant entrepreneurial India to Bankability literacy. Download the entire Bankability Kit
MoU with SIDBI
Bank of Baroda signed a MoU with SIDBI with the objective of working together to strengthen credit delivery system and facilitate smooth flow of credit to the MSMEs and Startups in a hassle-free manner and thereby becoming preferred partner for various initiatives of SIDBI to support the MSMEs.
Collaboration with Probe42 to obtain information on listed/un-listed companies from a number of sources, including the ROC, defaulter's lists, public filing, etc. available on demand for lending and gaining new business.
TReDS: Online Discounting Platform
Bank of Baroda has on boarded all 3 RBI approved Trade Receivables Discounting System (TReDS) platforms i.e. A.TREDS, RXIL, MYNDSOL thereby becoming the first Bank to support this novel Fintech initiative. This online platform enables discounting of invoices of MSME sellers through a bidding process to ensure prompt realisation of receivables.