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SmartBanking platform launched by SBM Bank India in partnership with Finin #SmartBanking
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SmartBanking platform launched by SBM Bank India in partnership with Finin

India Blooms News Service | @indiablooms | 02 Dec 2020, 09:53 pm

Kolkata/IBNS: SBM Bank India has launched a SmartBanking platform in partnership with Finin to offer hyper-personalised banking solutions.

According to the bank, access to affordable technology-led banking will play a pivotal role for the country’s banking sector to expand.

Neeraj Sinha, Head-Retail and Consumer Banking, SBM Bank (India), said, “In sync with our mission of taking banking to those who need it, and in a manner that they prefer, we are proud to partner with Finin to launch smart banking.”

Finin is a Bengaluru-based fintech company, founded in 2019 by Suman Gandham and Sudheer Maram.

According to the bank, Finin will offer a novel banking experience, through a mobile first, secured access and hyper personalised platform – to cater to new age customers.

Towards this, SBM Bank India issues a Savings Account that can be opened instantly and comes with a VISA powered Debit Card equipped with smart card management features.

Suman Gandham, ex Fintech VC and Founder & CEO, Finin, said, “India is not exactly underbanked, it is in fact overbanked but the infrastructure lacks hyper-personalisation. A hyper-personalised neobanking platform like ours is made with the purpose to bridge gaps using technology and help people develop a better relationship with money by simplifying antiquated banking services.”

The App is available on iOS Appstore and Play Store.

“Finin is a one-stop banking solution that allows users to link all their bank accounts in one place and help them track their transactions simultaneously making it a seamless banking experience. The start-up uses AI to analyse the spending of customers thereby generating reports that give insights on their spending and saving behaviour,” said Gandham.

SBM Bank (India) Limited is the first bank to receive universal banking license from the Reserve Bank of India to set up and operate as a Scheduled Commercial Bank under Wholly Owned Subsidiary (WOS) mode offering banking services in India.

SBM Bank India has a network of seven branches located in Mumbai, Delhi, Chennai, Bengaluru, Hyderabad, Ramachandrapuram and Palghar.