In a milestone for India’s fintech sector, Bengaluru-based Slice has merged with North East Small Finance Bank (NESFB), effective October 27, 2024. This integration, approved by the RBI, CCI, and NCLT, combines Slice’s digital banking with NESFB’s Northeast network, creating a powerful platform for financial inclusion. CEO Rajan Bajaj of Slice highlighted the merger’s mission to extend formal banking services to underserved regions, aligning with India’s digital transformation goals.

The merged entity, equipped with technology-first capabilities, plans to enhance customer experience and streamline operations, especially across rural and semi-urban areas. This strategic alignment will strengthen Slice’s reach, tapping NESFB’s customer base while supporting India’s objective to bridge the digital divide. The expansion is expected to drive sustainable growth, improve average order values, and establish the bank as a key player in the competitive fintech ecosystem.

Key Highlights:

• Slice has merged with North East Small Finance Bank to expand digital banking.
• The merger will focus on financial inclusion and enhance service accessibility in underserved regions.
• The integration aligns with India’s mission for broader digital and financial inclusion.
• The new entity aims to improve operational efficiency and drive growth in the fintech sector.