Bank of Baroda partners with 7 Fintech companies
Running up to its 109th Foundation Day, this a first of its kind initiative for a public sector bank to partner with companies operating across diverse areas of SME Financing, Algorithmic Lending, Bill Discounting, Retail Lending and Wealth Management, on a single day.
The partnerships would enable the Bank to launch new products, acquire new customers, and serve the existing customers better.
Speaking on this occasion P S Jayakumar (Managing Director & CEO), Bank of Baroda, said, “Our industry is going through a transformational phase, driven by progressive regulation, enhanced competition, advancements in technology and increasing smartphone penetration. As a leading Indian bank, we are committed to driving industry change by investing in internal resources, but also by partnering with determined, young Fintech companies making it a win-win proposition for all. These tie-ups would help in expanding our business faster and reach out and support the customers in a better way.”
Speaking on this occasion B B Joshi (Executive Director), Bank of Baroda, said, “We are very excited to partner with 7 Fintech companies. These partnerships will open windows for value additions in terms of better due diligence, better marketing opportunities and speedier service delivery. Embracing new technology will create a solid foundation that will help us charter into new territories and offer innovative products."
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