UNITY SMALL FINANCE BANK

About:

• In a statement, Centrum Group’s Executive Chairman Jaspal Bindra said: “We aspire to be India’s first Digital Bank”.
  
  
• This sheds light on the need for traditional lenders to expand their digital infrastructure in order to address the market’s requirement for digital products.
  
  
• There have been several examples of small finance banks and non-banking financial companies collaborating with fintech companies to access and monetise the data collected by these consumer tech firms.
  
  
• This has particularly gained momentum in the buy-now-pay-later (BNPL) and the micro-lending models, where companies like Paytm, Google Pay, Amazon Pay, etc have partnered with NBFCs to assess creditworthiness of an existing customer and present it to the lender as a potential borrower.