B2C deals gain traction in banking as digitisation cuts down middlemen

The bank has partnered with Fintech companies for various B2C solutions ranging from wallets, payment gateways, digital lending, micro ATMs and so on

As digitisation cuts down middlemen, banks are seeing an increased demand for Business to Customer (B2C) solutions. Recent bank-fintech partnerships were focused mostly on B2C solutions, say experts.

“Traditional corporates who had focused on B2B (Business to Business) like supply chain payment solutions through banks, are now engaging with us for developing B2C solutions for their end consumers and employees viz. loyalty cards/wallets that can be used in the open market,” said Ritesh Raj Saxena, the business head in retail banking, digital & payments domain, IndusInd Bank.

The bank has partnered with Fintech companies for various B2C solutions ranging from wallets, payment