Shivalik Small Finance Bank

Managing Director & CEO

Mr. Anshul Swami

Sector

Fintech

Region

India

Fund

SMBC ARF
A brief look at

The Shivalik Small Finance Bank Journey

Shivalik Small Finance Bank began its journey in 1998 and holds the distinction of being the first Urban Co-operative Bank (UCB) in India to transition into a Small Finance Bank (SFB). With over 25 years of banking experience, Shivalik combines deep-rooted expertise in retail deposit mobilization with a forward-looking, technology-first mindset. Operating across 10 Indian states through 175+ branches and serving more than 800,000 customers, the bank is focused on providing financial access to underserved MSMEs and Bharat’s retail consumers, including women entrepreneurs and small business owners.

2018-2021

2021-2022

2022-2023

2023-2024

-Sets up centralised account opening and loan appraisal function
-Launches Account opening through m-ATMs
-Implements e-KYC authentication
-Goes Live on IMPS and UPI
-Tie-up with Bill Desk and BBPS (Bharat Bill Payment System) -Receives in-principle approval from RBI to transition to a Small Finance Bank (SFB) -Goes live on Finacle Core Banking Solutions (CBS) platform and mobile and Internet banking digital suite by Infosys

-Becomes the first small finance bank in the country to transition from a UCB
-Completes maiden equity raise from global venture capital firms – Accel and Quona
-Receives the Finacle award for initiative “Technology led transition to a Small Finance Bank”
-Launches Tax Saver Fixed Deposits
-Introduces ESOP policy for employees
-Achieves Great Place to Work certification

-Unique customer base crosses 6+ lakh customers
-Enters state of Uttarakhand
-Expands number of branches to 129 – 4 states; 59 districts
-Launches QR-based Integrated Merchant Business Solution and 3-in-1 account in partnership with IIFL Securities
-Introduces UPI registration through Aadhaar and income tax payment for individual customers

-Launched fully Digital Fixed Deposit for existing and new customers
-Introduced V-KYC
-Launched WhatsApp Banking
-Launched SDK-based customer onboarding
-Automation of regulatory reporting
-Launched Mobile Banking App 2.0 (SmHiFi)
-Opened 98.5% Savings Account digitally
-Financed over 1,500 EVs
-Provided financing access to 1,200+ individual farmers
-84% increase in women hiring since SFB go-live

At Shivalik, we are building a strong digital foundation to serve the MSME and retail customers across Bharat. Our growth plans have banking-as-a-service as a key pillar - powering a range of use-cases through innovative products and easy partner integrations. We believe that our technology stack, depth of banking knowledge, and commitment to partners will continue to allow us to deliver scalable solutions that resonate with our core audience.

Mr. Anshul Swami

Managing Director & CEO

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