Fino Payments Bank strengthens digital offerings with mobile banking

• Targets mobile internet users, with usage in rural India growing at 26% Y-on-Y
• Mobile banking app allows seamless access to wallet and bank account with single login
• Brings the benefit of digital banking to millions of under banked people

20 Sep 2017, Mumbai: In India’s digital adoption journey, Fino Payments Bank is quietly developing an ecosystem to bridge the divide between India and Bharat. Following the start of bank operations in July 2017 with 410 branches and 25000 access points, Fino Payments Bank today launched BPay, a mobile banking app to bring convenient banking closer to millions of under banked people.
   

It may be noted that Fino launched BPay wallet in December 2016. The upgraded BPay app, available on Android, is now much more than just a wallet. The mobile banking app enables simple, paperless and convenient banking that allows customers to make bill payments, recharges, fund transfers and buy insurance either through wallet or bank account.

An interesting feature of the mobile app is that it allows customers to seamlessly access wallet as well as savings account, with a single login and interface.

Announcing the launch of the mobile banking app, Mr. Rishi Gupta, MD & CEO, Fino Payments Bank said, “Over a decade ago we pioneered digital banking in rural India through biometric solutions. Going forward we believe rural India or Bharat, where mobile internet usage is growing at 26% year-on-year, will drive mobile banking adoption. BPay app will play a critical role in our endeavour to bring banking closer to 50 million customers in 5 years, largely driven by tech savvy rural youth.”

“BPay is an extension of our phygital strategy, wherein customers have the options to choose the medium of engagement with us. They can come to our branches, banking points, get doorstep banking or simply do mobile banking by downloading BPay app,” added Mr. Gupta.  

In addition to single login access that allows anytime, anywhere payments and banking, people can even open Fino bank account from BPay mobile app without the need to step inside a branch or calling a representative. Going forward, Fino Payments Bank plans to add more customer centric offerings and services to the mobile banking app.

About Fino Payments Bank

Fino Payments Bank takes forward the parent company’s (Fino Paytech) legacy in ensuring banking for all through a nationwide digitally enabled distribution network of around 400 branches and over 25000 banking points. These access points provide utmost convenience and unmatched paperless banking experience right from eKYC-based accounting opening to allowing customers do banking/ payments transactions anywhere, anytime and through any platform – digital/mobile or physical touch points. A revolutionary experience for the huge masses across India!