Public sector banks will establish a unified cloud-based digital platform to collaborate with fintech players to facilitate loan disbursals on a revenue-sharing basis.
According to sources, the move will allow banks to leverage the extensive resource base of fintech firms. The state-run banks intend to save money by not having to build technologies or infrastructure from scratch. The project, led by PSB Alliance, is in the final stages of identifying a technology partner to develop and manage the proposed platform. The unified cloud-based digital platform will later be integrated with public sector banks’ core banking systems for loan disbursement.
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Public sector banks will establish a unified cloud-based digital platform to collaborate with fintech players to facilitate loan disbursals on a revenue-sharing basis.
According to sources, the move will allow banks to leverage the extensive resource base of fintech firms. The state-run banks intend to save money by not having to build technologies or infrastructure from scratch. The project, led by PSB Alliance, is in the final stages of identifying a technology partner to develop and manage the proposed platform. The unified cloud-based digital platform will later be integrated with public sector banks’ core banking systems for loan disbursement.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
