Bangalore, July 2020: Bangalore-based fintech company Zeta today announced its expansion into South East Asian markets. The company has launched its technology platform-as-a-service in The Philippines and Vietnam with Sodexo being its first client in these countries.
Zeta’s platform will power Sodexo’s employee benefits and rewards programs enabling it to launch digital and customizable solutions for corporates and its employees in these respective countries.
Speaking on the international debut, Bhavin Turakhia, Co-founder & CEO- Zeta said “This is a huge milestone for us, and we are extremely excited. After building our benefits solution in India, we realize there is huge potential for our platform in markets outside India as well. We already have a strong relationship with Sodexo, and we are happy to provide our services to Sodexo in other countries as well. Vietnam and The Philippines are the first Sodexo markets to go live on the Zeta platform.”
With this expansion, Zeta has become one of the first Indian fintech companies to launch its business in the ASEAN region.
In India, Zeta has a minority stake in the joint entity with Sodexo BRS India to sell multi-benefit solutions to corporates. With 15000 clients and 2 million users on its platform, Zeta today is one of the fastest growing fintech companies in India. It recently forayed into the banking sector and launched 3 new products called Tachyon, Fusion, and Cipher. These are full-stack, cloud-native, mobile-first banking products that will enable both, legacy banks, and new-age fintech institutions, to launch modern retail and corporate fintech products.
Nikhil Mangal, Vice President, Global Benefits Business- Zeta, also added, ”We have extremely ambitious plans to scale Zeta across the globe. Our tech platform has already brought about a revolutionary change in the corporate payments space in India and we are excited to showcase it to the world. By 2025, digital payments in South East Asia will exceed $1 trillion in gross transaction value and the digital financial services will generate annual revenue of US$38 billion. This presents a huge opportunity for us to grow our business and to demonstrate our technological capabilities.”
Zeta® is in the business of providing a full-stack, cloud-native, API first neo-banking platform including a digital core and a payment engine for issuance of credit, debit and prepaid products that enable legacy banks and new-age fintech institutions to launch modern retail and corporate fintech products. Co-founded by Bhavin Turakhia (CEO) and Ramki Gaddipati (CTO), Zeta currently provides its platform and products to BFSI issuers in India, Asia, and LATAM. Zeta’s products are used by banks like RBL Bank, IDFC First Bank and Kotak Mahindra Bank, 14000 corporates and over 2 million users. Zeta is a SOC 2, ISO 27001, ISO 9008, PCI DSS certified company. Zeta has over 500 employees and clocks over 1 million transactions per day.