Paytm's payments bank will run on Infosys Finacle CBS

BANGALORE, INDIA: Paytm will use Infosys Finacle Core Banking solution for its new payments bank business. Paytm will leverage Finacle’s proven platform for its deposit products and payments platform, enabling it to rapidly roll out innovative offerings.

Its Modern APIs driven solution will enable Paytm to integrate its payments bank services rapidly across its existing wallet business.

The solution’s product factory capability will enable Paytm to easily create and offer a comprehensive bouquet of CaSa (Current Account and Savings) based products and services in addition to its existing Wallet offering

The solution also offer integration adaptors with many third party applications like Anti-Money Laundering, which will enable the Paytm payments bank to become operational rapidly

Shinjini Kumar, CEO, Paytm Payments Bank, said, “With its large deployment base in India including some of the largest banks, Finacle has proven to be a scalable solution and we are confident that it will be able to support our aspiration to be a large and robust platform for small value, high volume transactions for millions of Indians.”