India’s first fintech bank came into existence with the how Slice-NESFB merge being a landmark event. Slice, one of the country’s fastest-growing fintech companies, merged with North East Small Finance Bank (NESFB) to officially create India’s first fintech-powered bank. Understanding how Slice-NESFB merge unfolded is key to grasping the recent changes in India’s banking scenario, one of the biggest in years.
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Why This Bank, Born From How Slice-NESFB Merge, is Special
This bank has been built from the ground up to serve every Indian living in metros and remote towns. The Slice-NESFB merger received regulatory approval in October 2024. This how Slice-NESFB merge came to fruition is not just a coming together of two financial institutions – it marks the beginning of a new kind of bank.
- It marks the beginning of a new kind of bank. It brings together fintech agility and banking stability to create an entirely new strategy for modern financial services, a direct outcome of how the Slice-NESFB merger was strategized.
- The mission of this new entity, formed through the Slice-NESFB merger, is to simplify banking, expand access to credit, and drive financial inclusion at a national level – all driven by technology, data, and design.
The Innovative Features Resulting from the How Slice-NESFB Merge
- Onboarding happens in minutes with 100% digital KYC, a streamlined process enabled by the Slice-NESFB merger.
- Instant credit access backed by AI-driven risk models, a capability strengthened by the combined expertise after the Slice-NESFB merger.
- Branches are tech-driven experience centres, not paperwork-heavy, a modern approach facilitated by the Slice-NESFB merger.
- Each product is mobile-first, person-centric and designed with users in mind, a philosophy carried forward from Slice and integrated into the new entity post-Slice-NESFB merger. To be launched in metros and emerging cities
At the heart of the transformation, driven by the Slice-NESFB merger, are the bank’s upcoming AI-powered flagship branches, to be launched in metros and emerging cities. These branches will combine automation and intelligence to offer facial recognition-based entry, self-service kiosks, 24×7 UPI-enabled ATMs and instant loan processing -Which will create a new model of branch banking, a vision realized through the Slice-NESFB merger.
Digital Savings Accounts
- Linked to 100% of RBI Repo Rate, ensures higher returns than prevalent saving products, a benefit now offered by the entity created by the Slice-NESFB merger.
- Interest will be credited to the customer’s account daily instead of monthly. This provides more value to the customer from day one, a customer-centric feature of the bank resulting from the Slice-NESFB merger.
- A new digital account is opened in just a few minutes. No need to visit the branch, a seamless experience made possible by the technology integrated after the Slice-NESFB merger.
Fixed Deposits with Interest Up to 9%
- The highest FD rates currently prevail in the country, a competitive offering from the newly formed bank after the Slice-NESFB merger.
- Easy to book through the app. Completely transparent details of returns are available, reflecting the fintech approach brought in by the Slice-NESFB merger.
- Ideal for risk-averse savers and salaried professionals seeking short-term gains, this product was designed for the wider customer base served after the Slice-NESFB merger.
What is Slice Loan Now? How Slice-NESFB Merge
- slice lone is a modern take on personal loans, now offered by the merged entity after the Slice-NESFB merge.
- Real-time eligibility checks, flexible limits and instant disbursement, features retained and potentially enhanced after the Slice-NESFB merge.
- Ideal for young professionals, gig workers and small business owners, a segment the new bank aims to serve effectively post-Slice-NESFB merge.
*Enterprise Loans – Expanding Offerings Through the Slice-NESFB Merge
- Customized loans for MSMEs and self-employed entrepreneurs, a new area of focus for the combined entity after the Slice-NESFB merge.
- AI-based underwriting ensures faster and unbiased approval, leveraging the technological strengths brought by Slice in the Slice-NESFB merger.
- With less documentation and maximum flexibility, a customer-friendly approach was adopted by the bank born from the Slice-NESFB merger.
National Vision, Focus on Inclusive Growth – The Broader Impact of the Slice-NESFB Merge
Even though NESFB’s roots are in the northeastern states, the bank’s vision is completely national. In the next 12-24 months, it plans to expand to metro cities with flagship branches and digital hubs, a strategic move enabled by the resources and vision following the Slice-NESFB merger.
Future Planning – Growth Trajectory
- Opening branches across India, starting with Delhi, Bengaluru, Mumbai and Guwahati, a key expansion strategy following the Slice-NESFB merge.
- Providing AI-powered financial planning tools for individuals and small businesses, a technological advancement integrated after the Slice-NESFB merge.
- Financial literacy programmes and women-focused banking products, especially in SHG-driven rural areas Building an open API-first architecture that allows seamless integration with government and private fintech platforms, long-term goals for the bank established through the Slice-NESFB merge.
Jay Chavda He is the Founder and Writer of businesspulsecare.com. He is an I.T Engineer, Freelancer, Businessman. He posts Business, Stock/Share Market, Finance Related News and updates on the website. 🔗