Slice and NESFB Merger: A New Era in Banking

The merger of consumer payments company slice with North East Small Finance Bank (NESFB) has been finalized, creating a unified financial entity. The move aims to blend fintech innovation with traditional banking stability, focusing on Northeast expansion, customer experience, risk management, and strategic growth in India.

The merger between consumer payments platform 'slice' and North East Small Finance Bank (NESFB) has been officially completed, the company confirmed on Monday, after obtaining all necessary shareholder and regulatory approvals.

As of Sunday, the merger has seamlessly integrated the operations and resources of the two entities, creating a new, cohesive banking institution. This union marries fintech innovation with the steadfastness of traditional banking, aiming to establish a technology-driven bank centered around risk management and sound governance.

Rajan Bajaj, founder and CEO of slice and executive director of the new entity, acknowledged the collaborative effort of both organizations over the past year. He emphasized a commitment to strengthening banking roots in the Northeast and enhancing customer experience. NESFB's MD and CEO, Satish Kumar Kalra, heralded the merger as a pivotal development in banking, leveraging slice's technology to reshape standards nationwide.

(With inputs from agencies.)