New Zealand technology company announces its largest opportunity to date with PSB Alliance, as the NZ–India Free Trade Agreement takes effect
AUCKLAND, 20 October 2026. New Zealand company Valocity has been named the exclusive digital infrastructure partner for property valuation, legal verification and Approved Project Finance across India’s 12 public sector banks. The five-year agreement is with PSB Alliance (Public Sector Banking Alliance).
Together, the PSB Alliance banks originate around 60% of India’s new home loans by value. In addition, more than 20 lenders already use Valocity in India. As a result, the partnership will extend the company’s reach to around 80% of India’s banks. Valocity was selected after a competitive tender, and this is the largest opportunity in the company’s history.
PSB Alliance partnership marked as the NZ–India Free Trade Agreement takes effect
The announcement is being marked at a Valocity-hosted event in Auckland, attended by Prime Minister Rt Hon Christopher Luxon and Minister for Trade and Investment Hon Todd McClay. The event falls on the day the New Zealand–India Free Trade Agreement enters into force.
Carmen Vicelich, Founder and Global CEO of Valocity, says the selection is a significant milestone for the company and its teams in New Zealand and India.
“This is the biggest opportunity in Valocity’s history and an important endorsement of the technology and expertise our teams have built.
“We have spent more than five years building our presence in India, understanding the market and working alongside local lenders and property professionals. This selection reflects that commitment.
“For borrowers, the value is practical: helping banks obtain the reliable property information they need to make timely, well-informed lending decisions.”
For a family buying a home, a lending decision can shape one of life’s biggest moments. By giving banks validated property information they can trust, Valocity can help them say yes sooner. As a result, the path to home ownership becomes smoother when it matters most. After all, for many families, their home is their most valuable asset and largest investment.
One platform for property lending checks across PSB Alliance banks
In practice, the platform will connect bank teams, valuers and legal partners. Specifically, it will manage three core processes: valuing a property, verifying its title and documents, and assessing new housing developments for lending through Approved Project Finance (APF).
Hosted in India, it will also provide a unique record for each property and an audit trail for decisions. Importantly, each bank’s data will remain separate. At the same time, anonymised, aggregated insights will support a broader view of property markets.
Overall, the PSB Alliance partnership is designed to make lending decisions faster and more consistent. In particular, this includes borrowers in smaller cities and towns, where reliable property information can be harder to obtain. However, qualified valuers and legal professionals will remain responsible for their assessments.
“Today, history was made twice. The Free Trade Agreement opens a new chapter between our two nations, and India’s public sector banks have trusted a New Zealand company to provide the digital infrastructure behind their property lending. For a company founded in Auckland, there is no greater honour than to serve a nation of 1.4 billion people. This partnership marks a new phase of growth and innovation for Valocity.”
Carmen Vicelich, Founder and Global CEO, Valocity
Built in New Zealand with a team in India
Valocity has worked in India for more than five years. Today, its operations cover around 13,000 postal PIN codes across all 28 states and eight union territories. In addition, the team delivers training in six Indian languages.
“Trade agreements open doors. Partnerships walk through them. I am proud that banking and technology are part of this story from day one… I congratulate the Valocity team, in New Zealand and in India, on this historic partnership. You bring proven experience from New Zealand, and a team in India that understands our market deeply.”
Sunil Mehta, Chairman, PSB Alliance, in a video message to the event
“This proven NZ infrastructure is now being built in India, for India. Our team will work alongside every member bank, and with thousands of valuers and legal partners across the country, to make digital valuation the standard for public sector lending.”
Sovan Mandal, CEO, Valocity India and MENA
Technology exports in a closer trade relationship
Vicelich says the announcement shows how New Zealand technology businesses can grow internationally through sustained investment and local partnerships.
“New Zealand businesses have expertise that can compete on the world stage. Our experience in India shows what is possible when we combine that expertise with local knowledge and a long-term commitment to the market.”
The Free Trade Agreement was signed in New Delhi on 27 April 2026. It immediately removes tariffs on 57% of New Zealand’s current goods exports to India, rising to 82% over time. In addition, Indian goods exports gain duty-free access to New Zealand, subject to the agreement’s rules.
It follows the Strategic Partnership agreed in July 2026. Notably, its Roadmap to 2030 sets an aspirational goal of doubling two-way trade to NZ$7 billion. It also encourages cooperation in digital transformation and emerging technologies.
About Valocity
Valocity provides digital technology for property decisions, connecting lenders, valuers, legal partners and property professionals. Founded in Auckland by Carmen Vicelich in 2014, it operates across New Zealand, Australia, India and the United Arab Emirates.
Its platform brings together property intelligence, valuation workflows, collateral risk management, legal verification and project finance processes. Climate and hazard information supports property and portfolio risk assessment.
About PSB Alliance
PSB Alliance is a company promoted by India’s 12 public sector banks to deliver shared technology and services to the banking sector. Its members are Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Indian Bank, Indian Overseas Bank, Punjab & Sind Bank, Punjab National Bank, State Bank of India, UCO Bank and Union Bank of India.
Media enquiries
New Zealand and global: Sara Pesic, Global Head of Marketing
[email protected] | +61 487 045 130
India: Sovan Mandal, CEO, Valocity India and MENA
[email protected]