Fi, a non-bank for paid millennials based in Bengaluru, announced a partnership with the Federal Bank to issue a current savings account equipped with a debit card, in three minutes.
Fi was founded to help people get better with money and create an intelligent layer of banks that helps millennials understand their money, save more and spend intelligently, according to the publication published here.
Founded in 2019, Fi is the brainchild of former Googlers who pioneered Gpay. It offers an interactive, personalized and transparent digital banking experience. Users get access to a savings account and money management tools with features that help users know their money, increase money and organize their funds. Fi wants to help the consumer in the financial journey beyond digital payments to other services – insurance, lending and investment opportunities. according to the edition.
Fintech and banking
Sujith Narayanan, CEO and co-founder, Fi, said: “We are excited to present a proposal that once again represents the way digital first millennials perceive and communicate with their money. Fi wants to be a significant partner on their path to the pursuit of money, enabling them to simplify finances and demystify savings. Our platform uses state-of-the-art technology and data science to gain useful insights that allow users to take control and do more with their finances. ”
Shalini Warrier, chief executive officer, chief operating officer and chief retail officer, Federal Bank, said the partnership brings together the best of what both entities can offer. The smooth user experience through the application is complemented by the stability, security and technological capabilities of the Federal Bank. “We are confident that the millennium on the payroll will welcome this unique digital experience. The best of both worlds – fintech and banking – will be served on a platter for customers ”.