Niyo Soonicorn

Niyo Global offers zero percent forex markup on international card spending for outbound Indian travellers.

Niyo provides digital savings accounts and banking services in partnership with banks, layering technology over existing banking infrastructure.

Niyo was created to help salaried employees increase take-home pay by claiming tax-saving allowances on the CTC disbursed by employers.

A feature that rounds up spending and invests the difference, part of Niyo's wealth-management offering.

Initial focus on salaried and blue-collar workers, helping them claim tax-saving allowances and manage payroll benefits via corporate tie-ups.

Niyo Global targets Indian travellers going abroad, offering zero forex markup cards for cross-border spending.

Niyo Bharat targets people earning less than Rs 20,000/month working at small and medium enterprises, aiming to open accounts for employees of small enterprises.

Niyo Wealth, built on the acquired Goalwise platform, manages customer investments through a self-driving, goal-based system that handles fund selection, portfolio rebalancing and target-tracking automatically -- an automated-services relationship rather than one needing constant manual input.

Niyo Global cardholders can reach round-the-clock phone and email support via partner bank SBM Bank India, layering personal assistance on top of the self-service app experience.

Co-founder Virender Bisht frames building customer trust -- since customers are trusting Niyo with their money -- as the single most important factor in running the fintech, shaping a high-trust rather than purely transactional relationship with users.

Niyo's core product is delivered through its mobile app for account management, card control, and wealth features.

Niyo distributes payroll and savings accounts through corporate partnerships, working with HR teams at client companies to onboard salaried employees.

Digital savings accounts and cards are distributed jointly with partner banks such as DCB Bank and SBM Bank India.

Niyo's core activity is building modern, app-based banking experiences and features on top of the infrastructure of the banks it partners with, rather than operating its own licensed bank.

Since acquiring Goalwise, Niyo runs a wealth vertical offering a zero-commission mutual fund product and, per the deal announcement, plans to add international and domestic stock investing, robo-advisory and auto-invest products.

Niyo built out a lending activity, planning to originate loans in the range of ₹70,000 (about $930) to customers as it broadened beyond savings, cards and wealth products.

A core ongoing activity for Niyo Global is processing cross-border card payments and addressing the financial needs of Indians travelling abroad, an area co-founder Virender Bisht says the company has focused on for several years.

Niyo itself does not hold a banking license; it depends on partnerships with RBI-regulated banks to legally issue accounts and cards, making access to a regulated partner's license a core resource for its business model.

Niyo's factsheet lists roughly $179 million in total funding raised since its 2015 founding, the capital resource underpinning its banking, forex and wealth product build-out.

Niyo's factsheet lists an estimated 450-500 employees, the human-capital resource running product, engineering, compliance and operations across its banking, forex and wealth verticals.

Niyo's technology platform was processing more than $3 billion of transactions on an annualized basis as of its 2022 Series C raise -- the core infrastructure resource behind its banking, card and forex products.

The DCB Niyo Savings Account is offered by DCB Bank Ltd as an interest-earning savings account with a DCB Niyo Debit Card carrying zero forex mark-up.

The Niyo Global Card is issued in association with SBM Bank (India) as a zero forex mark-up VISA debit card for travellers.

Niyo partnered with YES Bank to offer salary accounts and payroll cards, including the YES BANK NiYO Benefits Card.

Niyo planned to launch lending products, including loans of about ₹70,000 ($930), the month following its Series C announcement.

Niyo offers wealth-management products including mutual funds and domestic equities investments, run as the Niyo Wealth vertical following its acquisition of Goalwise.