Financial Wire

Fino Payments Bank Migrates Core Banking System to Finacle

-- Fino Payments Bank (NSE:FINOPB, BOM:543386) said it has migrated its core banking system to the Finacle banking solution, according to an Indian bourse filing on Wednesday.

Shares of the company rose over 1% in Thursday's trade.

The transition was carried out in phases and led to a temporary moderation in business volumes during the fiscal fourth quarter ended March 31 to ensure system stability and data integrity, the company said in the filing.

The new platform is expected to support the bank's next growth phase, including its planned transition to a small finance bank, the filing said.

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