The benefit of this tie-up would for the customers of PNB as well as for us. We will get a customer base of 4 lakh investors,” says Jagannadham Thunuguntla, equity head of Nexgen Capitals .

1. PUNJAB National Bank, India’s second largest PSU bank, is set to revamp its operations and offer new
techno-savvy products to its clients. The bank had recently tied up with a brokerage firm, SMC
Global, to set up a trading platform for its 4 lakh clients.
It has also joined hands with another company, called Financial Information Network and Operations
or Fino, to offer biometric cards. The bank is also in talks with some tech companies to set up mobile
banking operation.
The brokerage linkage will allow PNB clients to trade in any of the exchanges through its website. PNB
and SMC Global will share the revenue earned from this. The bank will also start online trading facility
shortly.
“We will set up a trading platform for the company.
The benefit of this tie-up would for the customers of PNB as well as for us. We will get a customer
base of 4 lakh investors,” says Jagannadham Thunuguntla, equity head of Nexgen Capitals .
“These tie-ups will help us service our clients better. The tie-ups are basical ly on revenue-sharing
models. We will continue to partner with different companies, if needed, to give the right kind services
to our customers,quot; a senior official with the bank said.
PNB's tie-up with Fino will allow the bank to expand further in Punjab and Delhi. In Delhi, the bank
plans to target migrant labourers. The main product of Fino is biometric cards. Through these cards,
the bank will help financial institutions to reach out to prospective clients from remote areas.
“We help several financial institutions bring their services in the un-banked areas. We are doing two
projects for PNB in Delhi and Chandigarh,” Fino’s chief financial officer Rishi Gupta said.