The board of Fino Payments Bank has approved a minority strategic investment in fintech Paysprint.
“The bank will be investing up to 12.19 per cent in the fintech by way of subscription to its shares,” it said in a statement on Tuesday.
This is in continuation to several in-house initiatives by the bank that are already underway towards building a digital ecosystem for its customers as part of its Fino 2.0 journey, it further said.
Next-gen APIs
New Delhi-based Paysprint offers next generation APIs in the areas of banking, payments, travel, lending, insurance, investment and more. It is helping payments service providers to offer seamless services to customers by providing Unified Open API Platform through fast and wholesome integration and a plug and play model.
“As we continue our journey as a Payments Bank today, we are now partnering with new age technology companies that will transform the digital banking space in the days to come,” said Rishi Gupta, Managing Director and CEO, Fino Payments Bank.
The partnership with Paysprint is expected to synergise on a host of financial and non-financial use cases for customers through API plug-ins to the bank’s digital platforms.