Fino Payments Banks Makes a Big Bang Entery into Indian Market

Fino Payments Bank announced the launch of its operations with 410 branches going live across 14 states.

The Bank was formally launched at an event by Chanda Kochhar, managing director & chief executive officer, ICICI Bank and D Rajkumar, chairman-cum-managing director, Bharat Petroleum Corporation Limited in presence of Prof M K Chouhan, chairman, Fino Payments Bank, in esteemed company of reputed professionals from the BFSI sector.

Speaking at the launch, Rishi Gupta, managing director and chief executive officer, Fino Payments Bank, said, "Payments bank license couldn’t have come at a more opportune time for us when the digital payments and banking ecosystem is in place. We intend to make banking simple and convenient to millions of hardworking Indians through a mix of physical and digital platforms. As ingrained in our DNA, we will strategically leverage technology and partnerships to create a banking experience that is easy and everywhere for everyone."

Ms Kochhar said, "We, at the ICICI Group, have always believed in creating new institutions and platforms -- from credit rating agencies to exchanges -- that are equipped to serve the needs of our growing economy. We have always been strong believers in utilising the power of technology and innovation to transform the way business is done and create new opportunities and goals that were hitherto unheard of. In line with this, the idea of Fino sprouted in ICICI Bank with the objective of addressing the gap in the banking system in terms of serving unversed individuals."

Related articles across the web

• Banks need to get serious about fraud
• Access Bank Group/UNICEF initiative