openPR Logo
Press release

Tide and RBL Bank collaborate to serve the Banking Needs of Indian SMEs

03-31-2021 12:51 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: PRHUB IMC PVT LTD

/ PR Agency: PRHUB
Tide and RBL Bank collaborate to serve the Banking Needs of Indian

Tide, the UK’s leading business banking fintech, has tied up with RBL Bank to provide bank account infrastructure for Tide’s India platform, focused on the SME segment. This collaboration will enable Tide to bring its platform to the Indian market with a full-fledged launch. With one in 20 SMEs in the UK (equivalent to over 5% market share) using Tide to manage their business banking and administration, it has over 320,000 SME members.
Under the tie-up, Tide members – small and medium-sized enterprises – have an option to open current and savings accounts at RBL Bank through Tide’s platform. Through RBL payment APIs Tide members will be able to make seamless transactions from Tide’s platform.
Launched in 2017, Tide has a long-term ambition to be a leading player in markets accounting for 25% of global SMEs. RBL Bank’s geographical presence across the country, superior digital banking services, robust product portfolio in the SME space and an agile technical stack will allow Tide to quickly scale up its business in India. Apart from supporting the organised SME sector, Tide will also focus on serving the unregistered and unorganised sector, helping bring these SMEs into the mainstream. Tide plans to acquire 25,000 members in the next financial year and scale up to two million customers in the next five years.
Surinder Chawla, Head – Branch Banking, RBL Bank said, "We are excited about this strategic tie-up with Tide, that shares our mission of reaching out to the underserved segment. RBL Bank has agile technological capabilities and compelling customer offerings to help Tide build a strong foundation in the country and scale up its business. Together, we are passionate about delivering innovative and integrated services that will improve the overall banking experience for the SME segment."
Commenting on the partnership, Dr. Oliver Prill, Tide CEO said, “We could not have a better banking partner than RBL Bank as we embark on the next stage of Tide’s journey, building a business financial platform to serve SMEs in the Indian market. RBL Bank offers industry leading banking, payments and security technology, giving Tide the foundations that will enable us to build the best possible service to help SME owners save time and money. With this partnership, we are ready to begin initial testing of Tide India, before entering into similar partnerships with other leading fintech providers to build our platform during the course of 2021”

No.22,Samson Arcade,Andree Road,Shanthinagar,Bangalore-560027

About Tide
Founded in 2015 and launched in 2017, London-based Tide is now the leading business financial platform in the UK. Tide helps MSMEs save time (and money) in the running of their businesses by not only offering business accounts and related banking services, but also a comprehensive set of highly usable administrative solutions. Tide has over 320,000 SME members in the UK (5% market share). Tide has raised over £100 million in investment from Anthemis, Augmentum, Creandum, Goodwater, Jigsaw, Latitude, LocalGlobe, Passion Capital, SpeedInvest and The SBI Group. It employs 500+ professionals worldwide, including over 150 in its Hyderabad technology centre, is LinkedIn’s top 10 hottest UK companies to work for and among the Sunday Times Fast Track Disruptors to Watch. Tide has a long-term ambition to operate in markets accounting for 25% of global SMEs. More information can be had from www.tide.co.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Tide and RBL Bank collaborate to serve the Banking Needs of Indian SMEs here

News-ID: 2264104 • Views:

More Releases from PRHUB IMC PVT LTD

Laundry redefined: SuperBottoms Super Laundry Sheets launched in India
Laundry redefined: SuperBottoms Super Laundry Sheets launched in India
SuperBottoms, India's no. 1 sustainable baby care brand, is driving innovation in the country by pioneering the creation of the new segment within the laundry category, with the introduction of a revolutionary laundry detergent ‘Super Laundry Sheets’. These detergent sheets are specifically designed for babies and kids’ clothes and cloth diapers, and contain no toxic chemicals. It's also suitable for people with sensitive skin and those who wash their clothes
UNIFORM JUNCTION TO INVEST OVER USD 1 MILLION IN COLLABORATING WITH WORLD LEADING EDTECH COMPANIES, AIMS TO DISRUPT SCHOOL-TECH IN INDIA
UNIFORM JUNCTION TO INVEST OVER USD 1 MILLION IN COLLABORATING WITH WORLD LEADIN …
Uniform Junction, India’s first one stop integrated supply chain platform for K-12 schools, a part of the Arvind Mafatlal group, today announced its partnership with Israel’s x10ed, a leading and cutting edge learning analytics solution provider. The association will enable Uniform Junction bring x10ed’s best in class data science methodologies empowering schools map the content to a set of abstract learning outcomes such as cognitive skills, social skills, creativity and
Ganesh Natarajan-led 5F World invests an undisclosed amount in InnoServ; joins i …
InnoServ Group, a fast growing integrated digital acceleration firm serving media, corporate and academia, today announced that it has received an undisclosed investment from Dr. Ganesh Natarajan led 5F World, a platform for Digital Start-ups, Skills, and Social Ventures in India. He also would be joining its advisory board which already has stalwarts like Gopalakrishnan Ramachandran. As part of its growth strategy, company aims to strengthen its capabilities across digital
Microchip Adds 64 Mbit Parallel SuperFlash® Memory to its Family of Radiation-T …
New Delhi, December 21, 2020 — To reduce the time, cost and risk of developing spaceflight-qualified systems, designers may start with Commercial-Off-The-Shelf (COTS) devices that can later be replaced by their space-qualified, radiation-tolerant equivalent parts available in plastic or ceramic packages featuring the same pinout distribution. Microchip Technology Inc. (Nasdaq: MCHP) today announced a radiation-tolerant, 64 Megabit (Mbit) parallel-interface SuperFlash memory device with unrivaled Total Ionizing Dose (TID) tolerance

All 5 Releases


More Releases for Tide

Catheters Market Growth Prospect: Is The Tide Turning?
Allied Market Research added new research on Global Catheters Market- Global Opportunity Analysis and Industry Forecast, 2022-2030. The Catheters market explores comprehensive study on various segments like size, share, development, innovation, sales and overall growth of major players. The research is based on primary and secondary data sources and it consists both qualitative and quantitative detailing. Some of the key players involved in the study are Abbott Laboratories, Becton Dickinson
Plastics Market Growth Prospect: Is the tide Turning?
The latest released study on Global Plastics Market aims to delivers detailed qualitative and statistical insights covering complete value chain from upstream to downstream. Lot many Chinese companies have been able to establish vast scales of operations, conquering domestic Plastics markets and making inroads into global distribution channels. Some of the companies like Great Foundation Plastic Manufacturing Factory, Popular Plastic Industry Group Co., Ltd., New Super Industrial Co., Ltd, Cherry
Telecommunications Infrastructure Market Growth Prospect: Is the tide Turning?
HTF MI Analyst have added a new research study on Title COVID-19 Impact on Global Telecommunications Infrastructure Market Insights, Forecast to 2026 with detailed information of Product Types [ & Competitive Landscape and Telecommunications Infrastructure Market Share Analysis], Applications [Rooftop & Ground-based] & Key Players Such as China Tower Corporation, American Tower Corporation, MER, SBA Communications, Crown Castle, Valmont Industries, Aster Private Limited & Helios Towers Africa etc. The Study
Renewable Energy Market Growth Prospect: Is the tide Turning?
Global Renewable Energy Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread) is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support. The study provides information on market trends and development, drivers, capacities, technologies, and on the changing investment structure of the Global Renewable Energy
Travel Services Market Growth Prospect: Is the tide Turning?
HTF MI recently added Global Travel Services Market Study that gives deep analysis of current scenario of the Market size, demand, growth, trends, and forecast. Revenue for Travel Services Market has grown substantially over the five years to 2019 as a result of strengthening macroeconomic conditions and healthier demand, however with current economic slowdown and Face-off with COVID-19 Industry Players are seeing Big Impact in operations and identifying ways to
8K Technology Market Growth Prospect: Is the tide Turning?
Latest released research study on 8K Technology Market delivers volume and values at regional and company levels considering slowdown due to COVID across the globe. From a global perspective, the report analyzes historical data and future prospects to represent the total Global 8K Technology Market size broken down by various segments (type and application) and by highest potential and emerging countries. Some of theplayers profiled are Samsung Electronics, LG Electronics,