Vakrangee joins forces with NSDL Payments Bank to offer digital banking

Vakrangee Ltd has forged a partnership with NSDL Payments Bank to offer banking business correspondent (BC) services throughout India via its network of Nextgen Vakrangee Kendras.

The Mumbai-based technology company said that digital banking has helped to remove the physical barrier of a bank branch, which makes its model highly scalable.

According to Vakrangee, the existing platform using which it is offering other services at the Kendra will be leveraged for providing banking services using APIs, thereby ensuring fast rollout and easy customization services across the country.

Vakrangee joins forces with NSDL Payments Bank to offer digital banking. Photo courtesy of Free-Photos from Pixabay.

Nextgen Vakrangee Kendra is said to be a standardized format outlet that exclusively provides a comprehensive range of products and services across banking, ATM, insurance, e-Commerce, logistics, and e-Governance.

With 70% of the Nextgen Vakrangee Kendra outlets located across Tier-5 and 6 towns, Vakrangee said that it will make available banking services to its customers in the most remote and hitherto unserved/underserved parts of India.