SBM Bank India and
Vakrangee Ltd entered into a partnership on Thursday to provide Banking Business Correspondent (BC) service for Pan India at Nextgen Vakrangee Kendra franchisees.
The Bank believes that for the Indian banking sector to expand and touch billions of lives, access to affordable technology-led Banking will play a pivotal role. With each collaboration, SBM Bank India has taken one more step towards this direction – by partnering Vakrangee for Digital & Assisted Banking.
Vakrangee Ltd will be able to provide banking services to all its franchisees digitally across India without any dependency on the partner Bank Branch near the Kendra, further strengthening the financial inclusion drive in the country. It will ease out the process of on boarding Banking services.
“We are elated to partner with Vakrangree and take our offering of #SmartBanking to millions of Indians. In doing so, we will offer a seamless experience Vakrangee’s NextGen Kendras. This partnership is in sync with our mission of taking Banking to those who need it, and in a manner that they prefer, we are further enabling the banking ecosystem in the country and more importantly, play a collaborative role in transforming lives of unbanked Indians using easy to access, assisted banking solutions,” Neeraj Sinha, Head-Retail and Consumer Banking, SBM Bank (India), said.
Commenting on this collaboration, Dinesh Nandwana, Managing Director & Group CEO, Vakrangee Ltd. said, “We are happy and honoured to announce this partnership with SBM Bank India which enables us to having Banking BC point services across our NextGen Vakrangee Kendras on a Pan India basis. This will help us in faster turnaround in activation of Banking services at all our franchisee partners without any physical dependency on the partner Bank Branch being located near the Outlet.”