Applicant name: Fable
Applicant type: Private Company
Headquarter City: Mumbai
Headquarter Country: India
Innovation Name: Full stack cross border payment infrastructure for banks and MSBs
Innovation Type: Product
Category: Partner of the Year
Status of Innovation: In-market
Innovation Active Since: 10/02/2017
Innovation Description. One-stop shop for banks and other business entities with a host of modules, which enables them to launch their own remittance service with minimal capital expenditure and time to market.
How do you describe the flexibility of your tool to customize to connect with other partners? The system is highly adaptable in terms of integrating with third-party platforms and boasts a vast array of customizable tools numbering in the hundreds.
Why should companies choose you versus your competition? Fable empowers partners and customers to enhance their competitive edge and deliver top-notch services to their clients and customers.
Name your best performance.
- Enabling receiving side banks to command their rightful place in the value chain in what was hitherto a domain dominated by the sending side banks.
- Creating the world’s best SWIFT processing platform with complete automation.
- Deploying the world’s best FX and treasury support platform.
What can you do better in terms of partnership? At Fable, we view the partnership as an evolving concept that requires ongoing effort. Whether it’s achieving technical integration, driving innovation in a specific domain, or deepening the partnership in other ways, we are constantly striving to improve in all areas. We understand that to earn a partner’s loyalty and commitment, we must add real value that inspires them to reciprocate and go above and beyond for us.
What was the inspiration for this innovation? Unavailability of ready-to-use applications and a dedicated team with domain knowledge.
Who can benefit from your innovation most? Banks, as they can reduce their operational costs for doing remittance business hence making remittance cheaper for their customers.
What are you most proud of about your innovation? Top private 9 out of 10 banks in India, which is the biggest remittance receiving country in world, use Fable’s technology.
Why do you think you should win this category? The sheer width of possibilities that are presented to the client by the Fable platform without too much technology involvement is something that has never been seen before. The significant reduction in time-to-market is the cornerstone to both innovations as well as reacting to competition. The fact that Fable enables this without any compromise on regulation or compliance is the huge differentiating.
Full Name: Naushad Contractor
Full Name: Parvez Quraishi
Full Name: Alok Mahapatra
Full Name: Nihar Jain