Fintech unicorn slice and North East Small Finance Bank (NESFB) are excited to announce their forthcoming merger, which will advance their shared goal of enhancing financial accessibility through technology across the country.
The merger, which has been granted a No Objection Certificate (NOC) by the Reserve Bank of India (RBI), would enable them to achieve their shared objective of fusing cutting-edge technological solutions with initiatives for widespread financial inclusion.
Commenting on the merger, Rajan Bajaj, Founder & CEO, slice, said, “We’re grateful to the RBI for entrusting us with this immense responsibility. At slice, our unyielding devotion to customers and robust risk management have set us apart. This approach allows us to serve a wider audience, including those often overlooked, while also building a deep emotional connection with our customers. We will further strengthen our risk underwriting through the use of technology and data, and always keep customers at the heart of our decisions. We see this as an opportunity to build a highly inclusive and responsible bank, offering an unparalleled experience, underpinned by robust risk management and strong governance.”
Slice’s digital prowess and NESFB’s grassroots banking base will be combined through this combination, subject to the necessary shareholder approval and other regulatory approvals. The combined company will give its consumers an unmatched digital banking experience while stepping up its commitment to financial accessibility.
Ms. Rupali Kalita, MD & CEO, NESFB, added, “This alliance with slice marks an exciting expansion of our reach and enhancement of our services. Dedicated to supporting the underserved, our collaboration is bolstered by slice’s innovative technology and a keen emphasis on customer experience. Meanwhile, we will continue to fortify the bank governance, with continuous improvements in compliance, risk management, and leadership. Together, we strive to deliver accessible and exceptional services, fostering inclusive and responsible banking for all.”
NESFB will continue to provide top-tier financial services to North East India using technology and community understanding. This combination of technology and empathy will strengthen their promise to the North East and expand financial inclusion nationwide.
slice is India’s leading consumer payments and credit company. Slice leads this fast-growing segment with 15 million Indian customers. The company wants to create a consumer-loved, smart, innovative, and transparent financial platform. slice app’s core products—slice account, slice UPI, and slice borrow—make payments and credit easy.
About North East Small Finance Bank
NESFB stands as the sole small financial bank in the North-Eastern region of India, boasting an extensive network of branches spanning across 9 states. As a preferred banking institution, NESFB offers a comprehensive suite of financial services, encompassing bank accounts, deposits, cards, loans, and mutual funds.