Fino Paytech, one of the biggest business correspondent players in the country, today said it has applied for payment bank licence.
"We are already working in this space with a fair understanding of customer requirements and the expertise of servicing them using technology," Fino Paytech Chief Operating Officer and Executive Director Rishi Gupta said in a statement.
The nine-year old company has served over 80 million people. It provides access to banking services in remote rural locations.
"Given this background, we feel payment bank is a natural progression for us," Gupta added.
The announcement comes a day after Kotak Mahindra Bank tied up with Bharti Airtel for its payments bank, while SKS Microfinance announced that it will be applying for a small finance bank licence.
The final date for applications for both the new banks is February 2.
