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Slice And North East Small Finance Bank To Merge Together

Customers of both entities will have a broader range of products, omnichannel offerings, and a seamless experience in the future

Slice And North East Small Finance Bank To Merge Together

Outlook Start-Up Desk

POSTED ON October 05, 2023 12:50 PM

Slice and North East Small Finance Bank (NESFB) have announced their merger in a move to accelerate their joint vision of expanding tech-enabled financial accessibility across the nation. Having received a nod from the Reserve Bank of India (RBI), the merger will help realize their shared goal of integrating cutting-edge technology offerings with grassroots financial inclusion efforts. 

This merger, pending requisite shareholders' consent and other regulatory approvals, brings together slice’s digital prowess and NESFB’s grassroots banking foundation. The combined entity supercharges its commitment to financial accessibility and will bring an unparalleled digital banking experience to its customers.

Customers of both entities will have a broader range of products, omnichannel offerings, and a seamless experience in the future. In the upcoming months, there will be an integration process with both entities working diligently to ensure a smooth transition for all customers.

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.” 

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.”

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