Bhanushali to head tech for Fino's payments bank

As it gears up to launch its payments bank, Fino PayTech on Thursday said it has appointed Bharat Bhanushali to head the technology vertical. In his 20-year long career, Bhanushali has also worked in the Silicon Valley. He joins the company as vice president for technology.

"Bhanushali would be responsible for defining, designing and executing technology products," company's Managing Director and Chief Executive Rishi Gupta said.

Bhanushali's domain knowledge on wallet systems and point of transaction (POT) devices provides it with an advantage to deliver digital banking services, he said.

Fino, part-owned by country's biggest private lender ICICI Bank, received the licence for starting payments bank in August this year, along with 10 others.

The newest kind of banks are slated to be technologically superior to the universal banks.