Karur Vyasa Bank partnered with Unanu Technologies

Published on February 16, 2022
Current Context: The Karur Vysya Bank has partnered with UNANU Technologies which is based in Chennai.
Karur Vyasa Bank partnered with Unanu Technologies
  • They have partnered for digital freight finance to fund transport contractors.
  • They will use end-to-end logistics technology platform for the purpose of partnership.
  • The UNANU has developed Freight Financing System.
  • They will use the ‘U-Turbo – a marketplace’ module.
  • Using the module, users will be able to onboard logistics companies and shippers to the Freight Financing program.
  • It allows picking up the material from the shipper until it reaches the destination.
  • Also, the tracking of the truck is possible using software and hardware.
  • The invoices can be generated in a seamless manner by capturing the digital freight finance system.
  • Due to these features, the bank will be able to fund and generate mandatory documents that are available in the system.
  • Thus, KVB has become the first bank to launch digital freight financing via the marketplace in the banking domain.
  • Static Part: 
    • HQ of Karur Vysya Bank (KVB): Karur, Tamil Nadu
    • Tagline of KVB: Smart way to bank

Question: 

Q.1 Which bank partnered with UNANU Technologies for digital freight finance to fund transport contractors?
a. City Union Bank
b. Karur Vysya Bank
c. Lakshmi Vilas Bank
d. Indian Bank

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