Fino targets SMEs, workers with doorstep banking

Mumbai: As part of its expansion strategy into the mass market, Fino Payments Bank (FPB) will empower its banking correspondents with a device to offer doorstep banking services ranging from withdrawal/deposit of money to purchase of financial products.

The concept, “bank-in-a-box”, though not new, has become an important strategy for banks, especially payments banks, to tap the customers in rural areas, where there are not enough bank branches and where people still need hand-holding to even carry out basic banking services.

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