NE NEWS SERVICE
MUMBAI, DEC 14
Fable Fintech, a leading global banking infrastructure SaaS company on Tuesday announced the launch of API Hub – a plug and play platform for open banking adoption. The Fable API Hub would facilitate banks to improve onboarding and integration experience for its large and medium corporate banking customers, ERP systems, aggregators and pay-out partners for cross border, FX and trade transactions. Besides, this easy to deploy system offers complaint, frictionless, inclusive and customized features agnostic to the client’s end’s technology stack, says a senior official of the company.
Commenting on the launch, Naushad Contractor, Founder & CEO, Fable Fintech, said, “In line with creating a scalable, customizable and efficient open banking ecosystem, we are proud to announce the launch of our API Hub. The solution is designed for banks to offer an independent platform to its corporate banking clients and their ERP systems. At the same time, Fable ABI Hub also empowers corporates to collaborate with diverse fintechs offering high degree of flexibility and security. Given our deep-rooted sector understanding, coupled with diverse technical expertise, we have developed a library of APIs to empower our clients, better adapt and integrate with the dynamic banking needs across cross border payments, FX and trade transactions. In time, we will continue adding newer APIs to build a system-agnostic gateway to new-age open banking.”
The company recently raised Series-A funding from marquee investors, including Pentathlon Ventures, stock market investors Ashish Kacholia & Lashit Sanghvi and former Wall street banker Sumeet Kanwar, and participation existing investors PayTM & Infibeam Avenues.
Fable has processed around 8 mn transactions aggregating to an estimated USD 14 bn. Fable’s platforms offer bank-grade security, compliance and technology compatibility to facilitate faster go-to-market. The company embraces partnerships with other remittance & network companies like Swift, Mastercard, Visa, Ripple, and Western Union.
