Neobank Fi partners with Federal Bank to launch its service India

Neobank for salaried millennials Fi has today announced the launch of its service in India.

Fi, was established with a strong purpose to help people get better with money and to create an intelligent bank layer that helps millennials understand their money, save more, and spend intelligently. 

“With the launch, Fi has also announced its partnership with Federal Bank to issue an instant savings account, equipped with a debit card, in under 3 minutes,” the statement said.

Founded in 2019 by Sujith Narayanan and Sumit Gwalani. Fi offers an interactive, personalized, and transparent digital banking experience. Users gain access to a new-age savings account and money management tools with features that help users know their money, grow their money, and organize their funds.

Commenting on the launch, Sujith Narayanan, CEO & Cofounder, Fi, said, “We are excited to introduce a proposition that reimagines the way digital-first millennials perceive and interact with their money. Fi aims to be a meaningful partner in their money aspiration journey, enabling them to simplify finances and de-mystify savings. Our platform leverages cutting-edge tech and data science for deriving actionable insights that empower users to take control and do more with their finances. We look forward to delivering a first-of-its-kind, personalized, flexible, and transparent banking experience and building long-term customer relationships.”

Speaking on the occasion, Ms. Shalini Warrier, Executive Director, Chief Operating Officer, and Business Head – Retail, Federal Bank said, “We are delighted to be the sole partner Bank for this innovative neobank, Fi. The entire proposition brings together the best of what both entities have to offer.  The slick customer experience via the app is complemented with the stability, safety, and technological prowess of Federal Bank.  We are confident that the salaried millennial will welcome this unique digital experience. The best of both worlds – fintech and banking – will be served on a platter to the customers”