Unity Small Finance Bank plans to tap 100 million Payback users

Unity Small Finance Bank (SFB), promoted by the Centrum-BharatPe combine, is looking to target over 100 million members of Payback - a loyalty programme company BharatPe acquired in June - to become a digital bank.

Jaspal Bindra, chairman of Centrum Capital, had said that the proposed business model is one of collaboration and open architecture, to deliver a seamless digital experience, and aspire to be India’s first digital bank.

Elaborating on the bank's approach on a digital platform, Ashneer Grover, co-founder and managing director, BharatPe, said it would need all possible digital channels, including Payback's 100-million-plus customer base.

"This will