Fino Payments Bank has appointed Manish Boricha as its new head of digital initiatives. Boricha was previously head of products at Aditya Birla Payments Bank and before that he was head of products for the Aditya Birla Group. He also has extensive experience in developing prepaid cards, debit cards and merchant acquiring with YES Bank, American Express, and HDFC Bank, according to his LinkedIn profile.
At Fino Payments Bank he will oversee the Digital Innovation Group by providing direction and guidance towards developing products and services on the mobile and online platforms.
In an earlier interview with MediaNama, CEO Rishi Gupta said the bank will be developing a virtual debit card in the coming months. He added that the bank’s focus will now be building third-party networks and build more customer acquisition points. “In the next few months, we will launch the mutual fund product and build on that. Right now we are only looking at liquid mutual funds and we are not looking at equity mutual funds,” Gupta added.
Fino Payments Bank began its operations in July this year and has 410 branches across 14 states and a network of 25,000 banking points. It will offer banking services such as current & savings accounts, remittances, business correspondent (BC) lending, mobile banking through the BPay app, life & general insurance and bill payments.