Interview: S Anand, CEO and Founder of PaySprint

An interview with S Anand, CEO and Founder of PaySprint, Unveils Next-Gen Solutions Redefining Fintech Landscape

Welcome to our interview with S Anand, CEO and Founder of PaySprint, Unveils Next-Gen Solutions Redefining Fintech Landscape.

An industry pioneer, Anand is revolutionizing the fintech landscape with next-gen solutions. With a blend of visionary leadership and technological expertise, PaySprint is reshaping the way we think about financial transactions.

PaySprint has been instrumental in providing cutting-edge API solutions in the financial and verification spaces. Could you elaborate on the key features and functionalities of SprintVerify’s CANDY platform and how it is transforming identity verification processes for businesses?

S Anand: Ans- As users of FinTech, make way for a visionary upstart as it makes its debut in PR; SprintVerify’s CANDY.

The IDaaS platform ascends as a transformative force that was born to transform the B2B industry with its AI-driven solutions that are revamping the way verification procedures are performed. And if that is not enough to pique your interest, wait until you unveil its features that revolutionize identity verification for businesses.

With its game-changing features, CANDY is a perfect solution for businesses that want to alleviate any delays in the identity or document verification process and bolster security across industries. From banking and HRM to E-commerce and Logistics, CANDY’s unparalleled service is all a business needs to stay ahead of the curve.  Starring CANDY’s unique Selling Proposition, which is as follows-

Candy Identity Unveils Cutting-Edge AI-Driven Identity as a Service Solution

1. No code identity gateway– CANDY as a no-code platform ensures a user-friendly interface with no coding hassle.

2.  Instant 100+ Identity Checks at Your Fingertips– Conduct over 100+ identity checks effortlessly with just a few taps.

3.  Customized Workflows-CANDY promotes customized workflows, catering to your business needs

4. Ensures all your compliance needs-CANDY ensures that all your business compliance needs are met seamlessly

Moreover, CANDY comes across as your comprehensive workflow creator, by automating repetitive tasks and freeing up valuable time and resources. For instance, in the Banking industry, it expedites account opening processes by swiftly verifying customer identities.

Whereas in HRM, CANDY facilitates efficient employee onboarding by automating document verification with its lightning-fast technology.

Guess What, the platform’s personalised journey features tailor experience for partners and users based on their unique preferences and behaviours. Such is what fosters trust and loyalty, which is crucial for business success in today’s competitive landscape.

Overall, SprintVerify’s CANDY platform stands as a beacon of trust and efficiency, providing accurate, reliable and seamless identity solutions that empower businesses to thrive in the digital age.

With the launch of SprintNXT, PaySprint aims to streamline business banking operations. How does SprintNXT differentiate itself from traditional banking solutions, and what advantages does it offer to SMEs and startups in the regional market?

S Anand: Imagine helping your network open an account online with ease, detecting fraud in advance, and processing payments in real-time. This is where we grew our monumental force in the lapse of PaySprint, called SprintNXT. A business banking solution designed specifically for SMEs/MSMEs in India.

An innovative force that is designed to simplify the financial operations of businesses and provide a unique set of features, that would make managing finances a breeze, especially for businesses who dream to streamline their banking process and empower security measures. Don’t just take our word for it, but see for yourself, until you believe in the solutions that it holds.

SprintNXT is an evolutionary platform, which provides seamless digital experience tailored to MSMEs. With intuitive tools and advanced security measures, SprintNXT empowers businesses to manage their finances effortlessly and securely, setting the stage for success in today’s competitive market.

With that, our technology should be an enabler and not a barrier, and we are committed to bridging the gap between traditional banking and the digital realm.

Features of SprintNXT

As individuals utilising banking services, we understand that the process can often be painstaking. This is precisely where our roles come into play, as we strive to simplify this experience. Through our extensive range of services, we provide a diverse array of solutions, primarily encompassing-

1. Multi-account management

SprintNXT serves you convenience on a silver platter and grants you the flexibility to merge your current accounts in one platform, simplifying the monitoring of finances. Accordingly, it even provides a seamless process for creating new current accounts.

2. Implementing Virtual Accounts

The introduction to Virtual accounts provides an innovative solution to enhance security measures by segregating the primary account from vendor to supplier payments. This somehow facilitates seamless tracking of transactions and enables effective monitoring of cash flow.

3. Collection of Payments through UPI

SprintNXT prioritises convenient payment collection from one’s network such as vendors, business partners, and franchisees via UPI, while boasting faster integration and improved cash flow.

4. Comprehensive analytical dashboard

SprintNXT offers an all-inclusive analytical dashboard that offers immediate and valuable insights into your financial operations, helping you make informed and data-driven financial choices.

All-in-all SprintNXT encompasses a range of inclusive solutions tailored specifically to meet your banking requirements, ultimately streamlining your financial journey and fostering confidence to mobilise your resources, and swiftly take decisive action.

We are not the only one, but the one engaged in shaping the API infrastructure.  We go beyond mere words, as our commitment lies in the execution of services for our customers. And just like that, we don’t watch the financial tides; we make waves of change.

Unlocking Advantages: How SprintNXT Empowers Growth for MSMEs:

Additionally, SprintNXT is Breaking new ground in FinTech, as it serves as an amalgamation of convenience, security and innovation providing a harmonious banking experience that businesses had never seen before.

Our services provide effective management of funds and convenient accessibility to funds, which is crucial for the growth of SMEs/MSMEs that contribute to 33% of India’s GDP. Our team is focused on creating innovative solutions that cater to the needs of our customers, and we are continuously striving to improve the user experience and make our financial services accessible to everyone. Choose us for a hassle-free financial experience.

1. Efficient Fund Management

SprintNXT even offers SMEs/MSMEs effective management of funds, assisting them to streamline their financial operations. It empowers businesses to make informed decisions while contributing to their success and growth.

2. Convenient Accessibility to Funds

SprintNXT ensures convenient accessibility to funds, addressing a critical need for SMEs/MSMEs. With features, such as easy online account opening and real-time payment processing, businesses can access funds swiftly whenever they need them, to facilitate smoother cash flow management and facilitating business operations without delays.

3. Enhanced Security Posture

It is by prioritising security, that SprintMXT encourages businesses to strengthen their security posture. advanced with fraud detection and secure transaction processing, SprintNXT helps safeguard business finances and protect against potential threats.

In the rapidly evolving fintech landscape, security and compliance are paramount concerns. How does PaySprint ensure that its API solutions, such as SprintVerify and SprintNXT, adhere to the highest standards of security and regulatory compliance?

S Anand: Today, as we drive fintech forward, security and compliance come across as the paramount concerns. At PaySprint, we prioritise the highest standards of security and regulatory compliance across all our API solutions, including SprintVerify & SprintNXT.

1. Rigorous Security Measures

Our API solutions and the data they handle are protected by rigorous security measures. Our approach includes a combination of encryption protocols, and secure authentication methods to prevent unauthorised access and data breaches. We take every precaution to ensure the safety and security of our client’s data.

2. Continuous Monitoring and Improvement

We continuously monitor and enhance our security measures to adapt to evolving threats and regulatory requirements. This proactive approach enables us to stay ahead of the potential risks and maintain the integrity and security of our API solutions.

3. Regular security Audits

We conduct regular security audits and assessments to identify and address any potential data scandals. This is where our team of security experts stay vigilant to address incoming security risks while implementing updates promptly.

4. Transparency and Accountability

We prioritise transparency and accountability in our security practices. Our clients and partners can trust that their data remains safeguarded with utmost care and that we are dedicated to maintaining the utmost levels of security and compliance.

Therefore, at PaySprint Security and compliance are foundational principles embedded in our API solutions. No wonder, we remain steadfast in our commitment to protecting the integrity and confidentiality of data, endorsing a secure environment for all the stakeholders involved.

PaySprint’s partnership with InstaBill for integrating UPI Collection API into their billing software is a significant development. Can you share more insights into how this collaboration simplifies payment collection processes for businesses and enhances the overall customer experience?

S Anand: Get ready to witness the FinTech solution of a lifetime as we unveil our game-changing collaboration that is set to revolutionize the payment collection processes for businesses.

PaySprint being the leading provider of cutting-edge payment solutions has partnered with InstaBill, the premier SaaS GST billing software, to introduce the groundbreaking UPI Collection API. 

This strategic integration is yet to redefine the way businesses collect payments while enhancing overall customer experience.

InstaBill’s robust billing software already automates the invoicing process with precision. On top of this, with the seamless integration of PaySprint’s UPI Collection API, businesses can undertake their payment collection to unprecedented levels of efficiency.

This integration enables InstaBill to generate dynamic QR codes tailored to each invoice, directly by PaySprint. Guess what, these QR codes are ingeniously embedded within the invoices, simplifying the payment process for customers. It is just with a simple click or scan, that the customers are redirected to their payment pages of UPI apps, ensuring a frictionless payment experience.

Our partnership with InstaBill marks a significant milestone in the evolution of payment collection at PaySprint. Well, it is with seamless integration of our UPI Collectin API into InstaBill’s billing software, that we are empowering businesses to streamline their invoicing and payment collection processes like never before.

Now, bid farewell to the complexities of traditional payment processes and embrace the concept of effortless transactions today.

Financial inclusion remains a pressing issue, especially in remote areas. How does PaySprint leverage its technology solutions to promote financial inclusion and accessibility, particularly in regions like Gujarat?

S Anand: PaySprint was conceived as a revolutionary force, aiming to inspire, simplify and provide solutions to ease the complexities of traditional banking. Instead of exposing our targeted audiences to the challenges of navigating intricate banking systems, our company introduced a financial revolution through user-friendly technological solutions. The comprehensive API Suite includes-

1. SprintNXT, a one-of-a-kind business banking solution, simplifies banking and financial operations, improving security.
2. SprintVerify is a top-notch verification platform undertaking seamless ID Checks and document verification with paperless onboarding and minimal documentation.
3. SprintOPN-  A comprehensive collection of APIs tailored for banking, finance, and payment.

With our innovative solutions, we extend our banking services to unexplored territories, helping to improve the lives of individuals, who have been previously underserved and untouched territories in Gujarat and Beyond.

Our services serve as an oasis to those, who struggle with the development. At PaySprint,  we aim to revolutionize the banking industry and offer secure infrastructure, which helps businesses reach their full potential. Because, technology should not be a barrier, but an enabler. Therefore, we are committed to serving the gap between traditional banking and the digital world.

.Our APIs have significantly impacted our customers, offering benefits such as:

1. Convenience & Accessibility: Providing convenient banking services, especially for those unable to access physical branches.

2. Financial Inclusion: Endorsing financial inclusion by facilitating easy depositing of cash into bank accounts for individuals in rural and remote areas.

3. Ensuring Security: Acting as a shield to prevent fraud and ensure the safety of financial activities.

Recognizing the challenges companies face in navigating the evolving financial landscape, PaySprint provides the tools needed for success. It is not just a platform; it is a catalyst for growth and innovation.

As a visionary leader in the fintech industry, what are your thoughts on the future of digital payments and banking in India, and how does PaySprint plan to stay ahead of the curve in terms of innovation and market adaptation?

S Anand: In my belief, the future of digital payments and banking in India is incredibly promising, marked by rapid technological advancements and a transition towards cashless transactions. We envision a landscape where convenience, security, and accessibility are paramount, driving widespread adoption of digital financial services across all segments of society.

To stay ahead of the curve, PaySprint remains committed to continuous innovation and adaptation. Our agile development approach allows us to respond to evolving market trends and consumer preferences.

Moreover, our strategic partnerships with leading financial institutions and regulatory bodies enable us to navigate the regulatory landscape effectively, fostering a conducive environment for innovation and growth.

Well, it is by embracing emerging technologies, we aim to enhance the security, efficiency and personalisation of our services, thereby providing unparalleled value to our customers and maintaining our position as a pioneer in the fintech space.

With the increasing adoption of AI-driven technologies in fintech, how does PaySprint incorporate artificial intelligence and machine learning algorithms into its products to deliver more efficient and personalized solutions for its clients?

S Anand: At PaySprint, we recognise the transformative potential of artificial intelligence and machine learning in revolutionizing the fintech landscape. We integrate these advanced technologies into our products to drive efficiency, enhance security and deliver personalised experiences for our clients.

One of the key applications of AI and machine learning in our platform is fraud detection and prevention. By analysing vast amounts of transactional data in real-time, our algorithms can identify suspicious patterns and behaviours, enabling us to proactively mitigate fraud risks and safeguard client’s assets

Furthermore, our AI-powered analytics tools enable financial institutions to gain actionable insights into customer behaviour and market trends, empowering them to make data-driven decisions and optimise their operations for greater efficiency and profitability.

Overall, our commitment to leveraging AI and machine learning technologies underscores our dedication to innovation and excellence, ensuring that we continue to deliver cutting-edge solutions that meet the evolving needs of our clients in the dynamic fintech landscape.

During a recent event at LLM University, S. Anand represented PaySprint as one of the pioneers in the fintech industry. Anand’s presentation showcased the power of innovative API solutions and how they are transforming the finance, banking, and verification sectors.

The event highlighted the importance of these cutting-edge technologies in driving industry growth and streamlining business operations. Anand’s insights into the future of fintech were well-received by attendees, who left with a deeper understanding of the transformative potential of API solutions in the financial realm.

Our discussion with S Anand has illuminated the transformative power of innovation in fintech. Through PaySprint’s cutting-edge solutions, Anand is driving forward a new era of financial technology, setting a benchmark for the industry and inspiring others to push the boundaries of what’s possible in fintech innovation.

Read more Success stories of Indian entrepreneurs, Women Entrepreneurs & startups stories at SugerMint. Follow us on Twitter, Instagram, Facebook, LinkedIn