Bank of Baroda, Axis Bank say will compete, collaborate with fintech cos
This story was originally published at 16:36 IST on 7 October 2025
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--Bank of Baroda MD: Making proprietary apps to compete with fintech cos
--CONTEXT: Bank of Baroda MD Chand speaks at Global Fintech Fest
--Bank of Baroda MD:See small-ticket loans going completely digital in 5 yrs
MUMBAI – Bank of Baroda and Axis Bank, two of the largest lenders in the country, said they plan to compete with financial technology firms in terms of providing new services to customers. At the time, the banks said they would continue to partner with fintech companies for specific services.
Debadatta Chand, the managing director and chief executive officer at Bank of Baroda, said the state-owned bank was aiming to compete with fintech companies through its BoBWorld app. As technology evolves, the career banker said he doesn't see any part of the banking system which is likely to remain untouched by it. When asked, he said that within five years, he sees some small-ticket retail loans going completely digital, based on trends already being seen.
Axis Bank Managing Director and Chief Executive Officer Amitabh Chaudhry said the bank was looking to grow into a technology firm in its own right. While fintech companies had the advantage of nimbleness, Chaudhry said that banks such as his will not give way for them to eat into profitability without a fight.
On Tuesday, shares of Bank of Baroda ended 1.8% lower at INR 261.85 on the National Stock Exchange. Shares of Axis Bank ended 2.1% lower at INR 1,186.80 Tuesday. End
Reported by Aaryan Khanna and Sagar Sen
Edited by Akul Nishant Akhoury
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