back Back

Jana Small Finance Bank to provide digital solutions to Co-operative banks

By Leandra Monteiro

August 26, 2021

Share

Jana, Jana Small Finance BankJana Small Finance Bank, a Bengaluru-based small finance bank, signed an MoU with HCBL Co-operative Bank, Lucknow and Mysore Merchants Co-operative Bank, Mysore to provide digital infrastructure and payments services to the respective banks under the bank sponsorship programme of RBI. This alliance will help customers of the co-operative banks enjoy digital transactions powered by Jana SFB.

HCBL co-operative bank in association with Jana Small Finance Bank, can now extend ATM, POS and e-commerce services to its customers. Also, this is for the first time that Jana Small Finance Bank has tied-up with a co-operative bank to provide IMPS services thus imparting seamless payment options to its customers.

Under the arrangement with Mysore Merchants Co-operative Bank, Jana SFB branded debit cards will be issued to their customers. Additionally, services like ATM, POS and e-commerce services are also extended to them. These associations will boost digital transactions enabling more rural customers to come under the gamut of financial inclusion in true sense. Jana Small Finance Bank’s digital capability will now be available to all its partner banks.

Speaking on the association, Ajay Kanwal, MD and CEO of Jana Small Finance Bank said, “It’s wonderful joining hands with HCBL Co-operative Bank and Mysore Merchants Co-operative Bank. Our endeavour is to build an ecosystem by providing smarter and simpler banking solutions for the underserved so that the benefits of digital banking can reach the masses. This partnership is yet another effort to grow our sponsor bank network to make banking products easily accessible to all.”

Commenting on the partnership, A.K Srivastava, CEO, HCBL co-operative bank said, “We are delighted to be associated with Jana Small Finance Bank to provide ‘Rupay Debit Card’ facility to our customers. We are also working towards plans to introduce IMPS and e-commerce transactions that can truly help cater to our customers’ needs. These services will bring in the convenience and hassle free money transfers for all our customers working in various segments.”

Previous Article

August 26, 2021

TrueLayer continues European expansion with new Headquarters in Dublin

Read More
Next Article

August 26, 2021

AffiniPay appoints Robert Alvarez to Executive Board

Read More








IBSi Daily News Analysis

UAE

February 27, 2024

Saudi Arabia’s FinTech market poised for exponential growth: vision 2030 sparks innovation surge

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Geidea strengthens operations in Saudi Arabia with key leadership appointments

Read More

Today

Aevi and Silverflow partner to support banks in Europe & North America

Read More

Today

Moomoo expands footprint in Malaysia with Investment Super App

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023