In the ever-evolving world of financial technology, seamless digital solutions are revolutionizing the way businesses and individuals interact with banking and payments. At the forefront of this transformation is S Anand, Founder & CEO of PaySprint, a pioneering fintech venture that is redefining API-driven banking, verification, and financial services.
With a vision to bridge the financial gap in underserved regions, Anand has built PaySprint into a powerhouse of innovation, offering solutions that simplify transactions, enhance security, and drive financial inclusion. From SprintNXT and SprintVerify to SprintOPN and SprintEXcrow, PaySprint’s robust API stack is empowering businesses to scale effortlessly while ensuring compliance and security.
In this exclusive interview, S Anand shares his insights on the future of fintech, the role of APIs in shaping the industry, and how PaySprint is leading the charge toward a more connected, efficient, and inclusive financial ecosystem.
1. What inspired you to found PaySprint, and how has your vision for the fintech industry evolved over the years?
The inspiration behind co-founding PaySprint was fueled by a passionate commitment to bridge the technological and financial divide in underserved regions, particularly rural India. We recognized a profound need for inclusive banking infrastructure capable of empowering businesses of all sizes. Our vision was to craft seamless, B2B API-driven solutions that would transform the landscape of payments, banking, and verification. Over the years, this vision has evolved beyond merely simplifying transactions; we are dedicated to cultivating a comprehensive digital banking ecosystem that harmoniously combines connected banking API platforms with stringent regulatory compliance. This initiative aims to make financial services not only more accessible and scalable but also inherently secure, ultimately paving the way for a brighter economic future in communities that need it the most.
2. PaySprint’s suite of products is quite diverse. Could you tell us about the unique value each product brings to the market?
At PaySprint, we’re pleased to introduce our all-in-one B2B API Stack, crafted to simplify financial operations for businesses of all sizes. Each product within our suite brings a distinct value to the table, empowering you to optimize your financial processes effortlessly. Discover a world where managing finances becomes not just simpler, but smarter!
- SprintNXT: A pioneering business banking switch that facilitates collections, payouts, and multi-account management, empowering businesses with automated financial operations.
- SprintVerify: A robust identity and document verification suite that enhances security, mitigates fraud, and ensures regulatory compliance through AI-powered identity checks.
- SprintOPN: A trusted digital banking solution providing Open APIs for seamless integrations, enabling businesses to leverage banking infrastructure without the complexities of traditional systems.
- SprintEXcrow: A secure and transparent escrow solution that facilitates trusted transactions by incorporating a trustee layer for added security and accountability.
Each of these solutions is designed to eliminate operational inefficiencies, reduce costs, and enable businesses to scale effortlessly in an increasingly digital world.
3. SprintOPN, SprintVerify, and SprintNXT are key offerings from PaySprint. How do these solutions address the gaps in the fintech space, and what sets them apart?
The rate at which the fintech landscape is evolving is neverending, yet many businesses still face significant challenges in financial management, verification, and compliance. PaySprint’s key offerings address these pain points:
- SprintOPN: Solves the challenge of fragmented banking systems by offering an Open Banking API framework that integrates seamlessly into existing infrastructures, making financial operations more efficient and scalable.
- SprintVerify: Addresses the growing concerns around fraud and identity theft by offering an AI-powered verification suite with 120+ APIs that ensure seamless and secure onboarding processes for businesses.
- SprintNXT: Fills the gap in B2B business banking by providing intelligent solutions for collections, payouts, and account management, empowering businesses with real-time financial control and automation.
What sets these solutions apart is their industry-agnostic approach, plug-and-play integrations, and focus on automation and compliance. These enable businesses to operate with agility and confidence.
4. With financial inclusion being a major goal for PaySprint, how do you ensure that your solutions reach underserved areas and businesses?
At PaySprint, financial inclusion is a cornerstone to a brighter financial future—it’s at the heart of what we do. Our solutions are designed to empower MSMEs, small businesses, and individuals in underserved regions by providing seamless access to digital banking and payments. We’ve built partnerships with NBFCs, microfinance institutions, and rural fintech players to ensure our APIs power last-mile transactions.
With our AEPS (Aadhaar Enabled Payment System) API, over 500,000 rural banking correspondents facilitate cash withdrawals and deposits for those without easy access to traditional banks. Our payout solutions ensure that even businesses in Tier 3 and Tier 4 cities can process vendor payments effortlessly. Through collaborations with digital lenders, we’re helping small businesses build credit histories, ultimately bringing more individuals into the formal financial ecosystem.
5. PaySprint’s No-Code Document Verification solution is particularly interesting. How has this innovation streamlined the process for businesses and financial institutions?
Document verification is often a bottleneck in onboarding, causing delays and compliance challenges. Our No-Code Document Verification solution eliminates the need for businesses to spend months integrating complex verification workflows. With just a few clicks, businesses can verify Aadhaar, PAN, GST, and other key documents in real time.
We’ve seen a 40% reduction in onboarding time for our partners, with fraud detection rates improving by 35% through AI-powered validation checks. This solution is particularly beneficial for fintech startups, lenders, and even large enterprises looking to streamline KYC without investing in heavy tech development.
S Anand, Founder & CEO of PaySprint
6. As a leader in the API space, how do you envision the future of APIs in the fintech ecosystem?
APIs are the backbone of modern fintech, and their role will only grow stronger. The future is all about embedded finance—where financial services integrate seamlessly into everyday platforms. Imagine applying for a loan directly within an e-commerce checkout or making instant bill payments from a social media app.
We foresee a massive shift towards API aggregation, where businesses prefer one unified API stack that covers everything from payments to compliance. Open banking will further accelerate innovation, with APIs enabling businesses to access real-time financial data securely. PaySprint is actively investing in API-led innovations that bridge business banking, lending, and compliance to make finance more accessible and efficient.
7. PaySprint has been recognized with awards like the “Best FinTech Startup.” What do these accolades mean to you, and how do they reflect your commitment to the fintech space?
These accolades are a testament to our mission of democratizing financial services. Being recognized as the “Best FinTech Startup” isn’t just about technology—it’s about impact. In the last year alone, we’ve processed transactions worth over $5 billion, enabled over 20 million digital banking transactions, and helped thousands of businesses digitize their financial operations.
Awards reinforce our belief that we’re solving real-world problems and pushing the boundaries of what’s possible in fintech. They motivate us to innovate faster, collaborate better, and stay ahead in an ever-evolving financial landscape.
8. Can you share how PaySprint’s flexible platform, which allows integration with any bank, helps businesses navigate the complexities of financial services?
One of the biggest pain points businesses face is being locked into a single banking partner with a rigid infrastructure. Our multi-bank API architecture gives businesses complete flexibility, allowing them to integrate with any bank of their choice for collections, payouts, and other financial operations.
For example, businesses using our payout API can dynamically route transactions through multiple banking partners, ensuring lower transaction costs and higher success rates. This not only reduces dependency on a single bank but also enhances financial resilience.
Moreover, our customers benefit from intelligent banking, where transactions are auto-routed based on real-time network availability, ensuring 99.9% uptime and seamless financial operations.
9. Looking ahead to 2025, what trends do you foresee in fintech and regulatory tech, and how is PaySprint positioning itself to stay ahead of the curve?
2025 will be a transformative year for fintech, driven by three key trends:
- Embedded Finance & API-Led Innovation: Businesses will integrate financial services directly into their workflows, making APIs more critical than ever. PaySprint is already working on B2 API stacks that bring banking, lending, and compliance under one roof.
- RegTech & Compliance Automation: With regulatory frameworks becoming more complex, automated compliance solutions will be in high demand. Our AI-driven compliance APIs will help businesses navigate evolving KYC, AML, and data protection regulations effortlessly.
By staying ahead of these trends, PaySprint is committed to providing businesses with future-ready financial solutions.
10. What’s next for PaySprint? Are there any new product launches or initiatives we can expect to see shortly?
Innovation is at the core of PaySprint, and we have some exciting launches lined up. Our upcoming SprintNXT Marketplace will redefine how businesses access financial services—offering everything in a single unified platform.
We’re also expanding our AI-driven fraud detection engine, which has already reduced fraud rates by 30% across our existing solutions. Additionally, we’ve recently launched SprintEXcrow, enabling businesses to make transactions with minimal friction.
Our goal remains clear: to simplify financial operations, enhance security, and bring next-generation fintech solutions to businesses of all sizes. Stay tuned—2025 is going to be an exciting year for PaySprint!
Image caption: SprintEXcrow
