HALISTER1: Infosys to Help India’s Paytm Establish Online Banking Services

Infosys to Help India’s Paytm Establish Online Banking Services

(Bloomberg) -- The IT services specialist’s software products will help the startup begin banking operations, co.s say in statement.
  • Paytm will soon launch services such as current account and savings products for its 126 million digital-wallet users
  • Infosys product Finacle will help with compliance and integrate with other apps to prevent money laundering
  • Paytm aspires to provide small-value, high-volume transactions for millions of Indians: Paytm Payment Bank CEO Shinjini Kumar
Note: Infosys is India’s second-largest software services company. Paytm is the consumer brand of One97 Communications, whose investors include Ant Financial, Alibaba and Silicon Valley Bank.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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INFO IN (Infosys Ltd)
ONE97 IN (One97 Communications Ltd)

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