July 17: With as many as 410 branches across 14 states in the country, Fino Payments Bank started operations today.
According to a report quoting Rishi Gupta, MD & CEO, Fino Payments Bank, the company intends to make banking simple and convenient to millions of hardworking Indians through a mix of physical and digital platforms.
We will strategically leverage technology and partnerships to create a banking experience that is easy and everywhere for everyone, Gupta added.
Listing down the future plans for Fino Payments Bank, Gupta said, the bankwould acquire 3-4 million customers in the first year with the aim of increasing it to 50-million with a deposit base of Rs. 100-billion in five years.
“We plan to build a network of over 100,000 points and 1,000 plus branches. We aim to become the first profitable payments bank following a multi-product, multi-platform and partnership strategy that adds tremendous value to our customers,“ he added.
The launch was formally made by Chanda Kochhar, MD & CEO, ICICI Bank and D Rajkumar, CMD, Bharat Petroleum Corporation in the presence of Prof MK Chouhan, Chairman, Fino Payments Bank.