Streamlining Operations: A Closer Look at India’s Leading BaaS Providers

If you want to offer your customers banking products and services, Banking-as-a-Service (BaaS) is an ideal option. Using the infrastructure and data of banks through Application Programming Interfaces (APIs), you can simplify your backend operations and offer various financial solutions. There are many BaaS providers in India, each with unique features and pricing. 

However, comparing and selecting the right provider for your business is important to ensure compliance, security, scalability, and customer satisfaction. As you implement BaaS in your organisation, it is important to follow set guidelines to maximise its potential effectiveness. Overall, this technology has the potential to revolutionise the financial industry, and the possibilities are endless.

Top BaaS Providers in India

BaaS is transforming the Indian financial sector by enabling more collaboration, competition and inclusion in the digital economy. The technology has many advantages for customers and providers, such as lower costs, faster transactions, wider reach and more choices. BaaS is the future of banking in India, so implement it to reach your maximum business potential.

Below mentioned are some of the top BaaS providers in India that you can approach to boost your business operations:


Wibmo is an online payment solution company that provides BaaS solutions to financial institutions in India and globally. Its BankEzy platform is a comprehensive solution that covers a wide range of financial services, including Mobile First Banking, One-Step Payments, Hyper-Personalization and Open Banking. 

The cloud-native platform is API-ready and can be easily integrated into existing systems, enabling banks and fintech to quickly launch their products, reduce costs, and acquire new customers. 

Wibmo provides advanced fraud and risk management, unmatched user authentication and two decades of distinguished industry expertise in revolutionising finance. Its solutions are scalable and ensure competitive advantage for businesses of any size.


Yes Bank has gained a reputation as a leading provider of Banking-as-a-Service (BaaS) in India, launching it in 2013. The bank has partnered with Falcon, a Banking-as-a-Service startup, to expand into the embedded finance market. With Falcon’s expertise in BaaS and Yes Bank’s reputation as a leading provider of financial services, the collaboration is expected to offer innovative solutions for various industries. 

By offering embedded finance solutions for non-financial sectors, they aim to provide a seamless experience for customers and businesses alike. This move aligns with the growing trend of embedding financial services within other industries, gaining significant traction in recent years.


Samunnati, a Chennai-based startup, is dedicated to assisting smallholder farmers and agri-businesses to find financing solutions and market linkages. As one of India’s innovative BaaS platforms, the company allows non-banking businesses to provide banking services such as loans and payment services. 

Samunnati offers a variety of loans, including working capital loans, short-term loans of less than a year, and long-term five-year loans, to help farmers and agri-businesses purchase agricultural machinery or infrastructure. The company operates in 19 states throughout India and is committed to establishing a sustainable ecosystem for the agri value chain.


Niyo, a well-known FinTech platform in India, was founded in 2015. The platform collaborates with banks to create innovative solutions that make digital banking more accessible and attractive to users. 

Niyo offers services that cater to different customer needs, such as global travel, wealth management, salary accounts, and banking for millennials. By leveraging technology, Niyo simplifies finance and provides customers with features like zero forex markup, real-time notifications, instant money transfers, personalised investment advice, and goal-based savings. 

Niyo partners with DCB Bank, IDFC First Bank, and Equitas Small Finance Bank to provide its services and aims to create a full-stack digital banking platform that serves customers from blue-collar workers to high-net-worth individuals.


Zolve, a startup that offers banking services to workers who want to move to the USA from India, was founded in 2020 to help migrants overcome financial challenges when they move across borders for work or education. 

The platform allows immigrants to access bank accounts, high-limit credit cards, and debit cards based on their home country’s credit score while still in their home countries. In addition, Zolve offers zero-fee money transfers, global health insurance, and tax filing services. 

Zolve partners with banks and financial institutions in India and the US to offer its services. They aim to create a global financial passport enabling seamless cross-border banking for anyone. The platform has over 50,000 customers on its waitlist and has raised $15 million in seed funding.


Banking-as-a-Service is a powerful tool for businesses looking to provide financial services and products to their customers. With the ability to simplify backend operations and offer a wide range of solutions, BaaS providers in India offer a variety of features and pricing models. 

However, choosing the right provider for your business is essential to ensure compliance, security, scalability, and customer satisfaction. Following established guidelines and integrating BaaS into your organisation can maximise its potential effectiveness and revolutionise the financial industry. The possibilities are exciting, and with the right approach, BaaS can be a game-changer for your business.

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