Karnataka Bank to focus on collaborations with fintechs: MD

The prime focus of Karnataka Bank now is building the asset book through collaborations with fintechs and NBFCs, according to Srikrishnan H, Managing Director and Chief Executive Officer of the bank.

Speaking at the leadership session on the topic ‘Evolving Digital Ecosystem @ MSME and Possibilities’ at the second edition of ‘KBL FinOne, A fintech growth programme’ on the sidelines of Global Fintech Fest 2023 in Mumbai, he said the distribution of products such as digital credit cards, UPI on credit, insurance and investments, personal finance, etc., is another key focus for the bank. Karnataka Bank will also pursue active participation in the B2B segment to serve the underserved, he said.

“At Karnataka Bank, we wish to actively participate in the digital ecosystem that includes specific open collaborations with fintechs to provide inclusive finance for MSMEs and consumers. As we celebrate the bank’s centenary year, we are positioning and re-inventing ourselves to be a start-up @ 100, with an outlook of metamorphosing from being ‘Karnataka’s Karnataka Bank to India’s Karnataka Bank’,” he said.

Sekhar Rao, Executive Director of the bank, said: “We are focusing on building our digital lending ecosystem with an eye on three broad parameters: first, by focusing on areas in which we understand or our strengths are namely MSMEs and the agri sector; second, by developing a commercially viable model; and third, without doubt, through the collaboration route with fintechs.”

Senior executives representing various verticals of Karnataka Bank participated in the event.