Fino Paytech ties up with NABARD for rural bank digitisation

Payments technology company, Fino Paytech, which will make its debut very soon, has already collaborated with NABARD to facilitate the rural bank digitisation drive in the states of Haryana, MP, Bihar, Gujarat and Maharashtra.

Apr 18, 2017 03:04 IST India Infoline News Service

Payments technology company, Fino Paytech, which will make its debut very soon, has already collaborated with NABARD to facilitate the rural bank digitisation drive in the states of Haryana, MP, Bihar, Gujarat and Maharashtra. 
 
The company plans to use technology to improve banking penetration and customer service.

It also plans to provide over 5000 Aadhaar enabled micro ATMs and financial inclusion gateway services to district central cooperative (DCC) banks and Primary Agricultural Credit Societies (PACS) across these states, as mentioned on a national news portal.
 
Almost 90% of the population having enrolled under Aadhaar, it would be easy to identify rural banking customers and facilitate faster transactions.
 
Other payments banks are also trying to utilise the large Aadhaar coverage to help rural people with Aadhaar enabled micro ATMs, which in turn will facilitate eKYC and instant banking, observed a market analyst.

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