Fino Payments Bank unveils digital savings account

Fino Payments Bank has announced the introduction of Jan BachatKhata, an Aadhaar Authentication-based digital savings account for its customers.

The primary segment would be low income household families and beneficiaries of government’s direct benefit transfer (DBT), Fino said.

Bharat Bhanushali, head products and technology, Fino Payments Bank, said, “AePS as a safe and convenient platform is perfectly in sync with our objective of making banking simple and hassle-free. For the millions of people who are not comfortable using debit card and PIN, Jan BachatKhatawith Aadhaar authentication provides new age digital banking experience. With AePS transactions gaining ground, we expect increased acceptance and aim to open around a million Jan BachatKhata accounts in FY21.”