large scale image
LCP Image

Back to TSCFM News

Banks fintechs firms partners up to grow business

September 24, 2021

Banks fintechs firms partners up to grow business
A rising variety of small and mid-sized banks in India are partnering with fintech organizations to develop their attain and faucet new possibilities, saving on prices and time to ramp up their retail community.
While giant public sector banks are higher positioned with regards to branches, smaller personal lenders are taking this course to onboard new projects.
Generally, banks have depended on their local area of branches, especially in semi-metropolitan and rural regions.
However, the smartphone growth and ultra-low information have given banks an avenue to develop their business without building new branches.
“Actual branch extensions are an expensive issue and include long-term planning. The test with actual branches is that you would be working in a particular catchment area, and on the off chance that you fail to understand the situation as far as recognizing it, branch profitability might be hit,” referenced Parijat Garg, an impartial fintech skilled.

Garg referenced fintech partnerships also supply regional lenders the flexibility to achieve prospects all throughout the country. “Banks that are somewhat new or have limited branch presence are all the more aggressively taking this approach,” he referenced.

Important Links:

Recommended for you ...

Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services
Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services

February 12, 2024

Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices
Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices

February 12, 2024

Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices
Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices

February 12, 2024

Enquire Now
REQUEST A CALLBACK
Chat on WhatsApp