{"id":2919,"date":"2020-01-06T19:52:31","date_gmt":"2020-01-06T19:52:31","guid":{"rendered":"https:\/\/jobbinghood.com\/finance\/2020\/01\/06\/state-bank-of-mauritius-signs-mou-with-paynearby-to-build-open-banking-network\/"},"modified":"2020-01-06T19:52:31","modified_gmt":"2020-01-06T19:52:31","slug":"state-bank-of-mauritius-signs-mou-with-paynearby-to-build-open-banking-network","status":"publish","type":"post","link":"https:\/\/jobbinghood.com\/magazine\/2020\/01\/06\/state-bank-of-mauritius-signs-mou-with-paynearby-to-build-open-banking-network\/","title":{"rendered":"State Bank of Mauritius signs MoU with PayNearby to build ‘open banking’ network"},"content":{"rendered":"

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SBM Bank (India) on Monday signed an MoU with fintech startup PayNearby to build an \u2018open banking\u2019 network towards delivering basic banking solutions as well as advanced financial services to the customers.\u00a0 The partnership would enable the bank to offer complete suite of digital and assisted banking solutions through PayNearby\u2019s exhaustive network of micro-enterprise and retail touchpoints, SBM Bank said in a statement.<\/p>\n

It will also enable micro-enterprises and retail touchpoints to earn better returns on their investments, it said.
The deployment of the banking module will be done in a phased manner and will work seamlessly with the existing platforms at PayNearby outlets and touchpoints, it added.\u00a0 State Bank of Mauritius (SBM) is the first foreign lender to receive banking license in India through wholly-owned subsidiary route.<\/p>\n

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