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Fino Payments Bank launches digital stack

Fino Payments Bank Fino Payments Bank has launched a digital services suite with the intention of helping the bank expand its footprint in the digital banking and payments space. The digital stack will facilitate extension of the bank’s digital efforts and help it provide simple and convenient banking to its customers. The bank had launched an app BPay in September 2017, which will be the key driver for digital transition of customers from assisted to self-service mode. The app will make smartphones the new banking points, allowing customers to make bill payments, recharges, fund transfers, buy insurance, put up gold loan requests and many more savings and investment related services that would be added over period of time. In addition to BPay, the bank is also introducing as part of the stack UPI BHIM app, net banking, a Digi Savings Account with facilities for online account opening with only Aadhaar number and PAN card and FasTag to make digital payments at national highway toll plazas. Rishi Gupta, MD and CEO of the bank, said the changing landscape is opening up digital banking opportunities outside of metros, including from tier III to tier VI places and the bank is working with NPCI to offer the convenience of UPI to customers on the BPay mobile banking app. The other digital initiatives proposed are customer centric as they simplify banking and payments, enable transition to self-service mode and help create wealth, he added.

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