Decentro (YC S20) – APIs for Banking Integrations in India

Hola HackerNews!

Super stoked to share Decentro (http://bit.ly/decentro-hn) with all of you today.

Decentro is an easy-to-use API platform for banking integrations in India & Asia. We do the hard work of tying up with legacy financial institutions so that developers can integrate their desired APIs and launch.

Think of us like Plaid+Synapse for the Asian subcontinent where the regulatory complexity, financial intricacies, and local knowledge inhibit the foreign infrastructure players from operating.

This is my second fintech venture, and I started Decentro out of my own pain point. In 2015, we had launched a fintech venture called 'Mypoolin' in the domain of social payments, ran it for three years, and then sold it to a global payments company that eventually got acquired by PayU in 2019.

Throughout those five years across the organizations, we saw it first hand that integrations with banks and old-school institutions were extremely painful across all stages and categories. The average time span for API integrations with any bank ranges from 4 to 6 months or more depending on the type and complexity of the use case.

Our product roadmap is a function of the core-building blocks of any fintech company. First came KYC/KYB and digital onboarding, enabling companies to digitally verify the identity using 7 possible national IDs/documents of consumers or partner businesses. Immediately thereafter, we launched our 'Accounts' module with 2 partner banks in India, enabling any company to launch fully digital bank accounts (sitting on top of a common physical pool), collect the money via any possible method online into these accounts, fetch bank statements, automate reconciliations, and programmatically route money via any bank transfer channels into any account in the country.

Our first customer categories are SMB focused neo-banks and B2B marketplaces in the country that are looking to adopt banking APIs and digitize their money flow and customer lifecycle. Our customers have processed $3M API-based transactions on our platform over the last three months.

We just opened the beta APIs of business bank accounts. You can link multiple virtual accounts to your core business account, automate reconciliations, receive payments from your customers, and automate vendor/salary payouts instantly. No more payment-processor/gateway delays! Our pricing is straightforward and mostly on a per API/transaction basis.

I'd love to hear your thoughts on our proposition. Your unique insights while navigating the complex world of B2B, banking, and payments will help us solve the integrations pain point for good.

We are here to answer your questions here or on founders[at]decentro.tech



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andrey azimov by Andrey Azimov