The Man behind Decentro
Rohit Taneja, the founder of Decentro was born and brought up in the quaint town of Faridabad. Rohit completed his bachelor’s in electrical engineering from IIT Delhi. Soon after completing the studies, Rohit started his corporate journey working with companies like Sony and has traveled across more than 30 countries.
What is Decentro?
Decentro is an automated plug and play API enabled platform for fintech companies. The company’s primary market is APAC, where the company provides its product as an intuitive dashboard for them to use to connect with the underlying financial infrastructure.
With Decentro’s platform, there is no need to spend multiple man-months integrating with broken and legacy of APIs of core banking.
Check out the website for Decentro here.
Idea and Inspiration behind Starting Decentro
Rohit believes-
“Average minds discuss events, Small minds discuss people, and Great minds discuss ideas.”
The idea of starting Decentro was born both from both personal points as well as from the significant hurdles that Rohit saw across the Fin-tech Industry.
Rohit observed that it takes a long time to get a stable production setup, which is a common challenge for all Neo-banks, Fin-techs, and Insur-techs who need to interact with the core banking system.
On observing this, Rohit believed that there is a prominent need for an automated, Smart, and unified platform that provides both standard and custom finance-related integrations in a plug & play manner.
Check out the website for Decentro here.
Challenges faced in the outset of Decentro
Rohit faced a lot of challenges in the beginning as the process of integrating with banks is tough both from a technical as well as managerial point of view. On the technical front, Rohit felt that the API of the organizations is outmoded with poor documentation and improper credential handling.
Rohit faced challenges integrating with banks, and fin-techs felt like they are in a constant temple run coordinating with the departments within the bank for making any change.
Decentro’s upcoming partnerships
The company plans to have Yes Bank and RBL Bank initially in India, and for APAC in general, Decentro plans on adding DBS Bank and HSBC Bank as key partners.
The company plans to work closely with the Banks to leverage their APIs to create a plug & play layer on top of it, taking the long pre-approvals in advance and simplifying the ops as well as adding a vital layer of automation at the backend.
Hitting the First Milestone
The company’s first milestone was starting their first services style POC with an insur-tech company, sustaining the team in a bootstrapped manner, with a profitable return, gave Rohit a decent level of confidence.
Growth and Vision of Decentro
Rohit says that the aspect of the company is to maintain a developer and fin-tech friendly platform which would help the company to up-sell and cross-sell more modules over time helping the company to maintain a highly defensible moat, considering the flow of information, existing tech integrations for fin-techs and consistent updates as well as support available at 100X the speed and quality of the legacy players.
