Bank of Baroda is all set to clock business of nearly Rs 4,000 crore by FY20-end through its Fintech tieups alone. The bank also expects to close FY19 with a Fintech business turnover of Rs 1,200 crore.
The PSU lender, which started upgrading its fintech-based tieups from October last year, currently has 25 such companies on its board and plans to take it to 35 by FY19-end. BOB on an average clocked business worth Rs 100-120 crore every month.
The bank has tied up with Amazon to disburse non-collateralised loans of up to Rs 25 lakh to Amazon's vendors, Paytm for co-branded credit cards ToneTag for sound-based payments, Razorpay for using its payment gateway, GyanDhan for education loans, ATReDS, RXIL and M1 exchange for online invoice discounting and Baroda m-invest for wealth management among others to increase its business footprint from the fintech sector.
Bank of Baroda is all set to clock business of nearly Rs 4,000 crore by FY20-end through its Fintech tieups alone. The bank also expects to close FY19 with a Fintech business turnover of Rs 1,200 crore.
The PSU lender, which started upgrading its fintech-based tieups from October last year, currently has 25 such companies on its board and plans to take it to 35 by FY19-end. BOB on an average clocked business worth Rs 100-120 crore every month.
The bank has tied up with Amazon to disburse non-collateralised loans of up to Rs 25 lakh to Amazon's vendors, Paytm for co-branded credit cards ToneTag for sound-based payments, Razorpay for using its payment gateway, GyanDhan for education loans, ATReDS, RXIL and M1 exchange for online invoice discounting and Baroda m-invest for wealth management among others to increase its business footprint from the fintech sector.