Soon SBI customers can print their own debit cards

Copyright © HT Digital Streams Limit all rights reserved. The industry SBI is looking for FinTech Partners to help customers print their own debit cards Shayan Ghosh 3 min Read 03 Apr 2025, 05:30 AM IST SBI wants Fintechs to develop a progressive webapp through which clients can manage their debit cards. (Reuters) Summary of the largest lending of India seems to be mapping another course, as most other banks look at the funds with fintechs to push lending. Mumbai: India’s largest money shooter State Bank of India (SBI) is searching for FinTechs, which can help get an edge on competitors with debt card solutions, including an option for customers to print their own cards at kiosks. The bank is looking for a partnership with Fintechs that can provide services for these kiosks so that customers can upload photos or choose from design templates, according to a document seen by Mint. “Customers must also be able to set up their PIN and manage basic card controls directly with the kiosk,” the document said, asking Fintechs to apply. It cannot be immediately determined how these proposed kiosks would work. The bank’s kiosks currently offer different services. As on March 31, 2024, SBI 20.135 had a barcode-based Pasboek Printing at 17,663 branches, which processed more than 1 million daily transactions. According to the annual report, it also had 2,496 kiosks in FY24. Read also | Mint Primer: How to read SBI’s latest poverty, estimates SBI also wants FinTechs to develop a Progressive WebApp (PWA) through which clients can manage their debit cards. PWAS is web -based applications that provide user experience from an app. Solutions on the kiosk and the web app are what the bank classified under the proposed partnership as ‘won’. Some other aspects are also ‘compulsory’ among the potential alliance. Inquiries sent to SBI by e -mail to comment remained unanswered. It seems that another route SBIs are mapping another course, as most other banks are looking at Fintechs to push lending, experts said. “A debit card partnership shows that the State Bank of India (SBI) is a new trend where it considers cards as a way to improve customer experience,” says Vivek Iyer, partner at Grant Thornton Bharat. According to Iyer, newer customers may not be satisfied with what the plastic currency looks like and that people can choose what they want, the personification will help. “SBI now says that we will give you something personal, and that FinTech partnerships will make it faster,” he said. “Banks also now realize that excessive dependence on any specific service channel can be detrimental during periods of downtime.” Read it | Are you an SBI customer? Here’s how new chairman CS Setty plans to improve your banking experience in India’s ubiquitous fast payment platform UPI (Unified Payments Interface) has meant that the number of transactions was rejected last week. In February alone, UPI processed 16.1bn transactions worth £ 21.9 trillion. Meanwhile, SBI also wants FinTechs to develop solutions that customers will provide a dedicated dashboard to manage, detect and control subscription -based services such as Netflix, Spotify and aid programs linked to their debit cards. The dashboard must also integrate artificial intelligence-based warnings for identifying underutilized subscriptions and representing alternatives based on use behavior. FinTechs bring agility experts have said since banks come with legacy systems and find it difficult to move quickly, it helps with fintechs to find innovative solutions for customers. “For FinTechs, it helps to work with institutions with deep pockets and ready pool of users to test their products,” says Neha Mehta, founder and CEO of FinTech consultation firm Femtech Partners in Singapore. Mehta said every bank in Singapore has an innovation laboratory, which allows Startups to work with them. It is a kind of sandbox where Fintechs can test new ideas with a small customer base, she said, adding that banks are able to handle and see what problems these startups solve. And read | SBI Card: Competition of Personal Loans A gender spread on interest SBI In November, the State Bank of India Innovation Hub in partnership with Apix, launched a leading global collaborative innovation platform for financial institutions and Fintechs. The idea, the report reads, was to provide “dedicated space for Fintechs, Startups and Innovators worldwide to adapt the next generation of financial solutions to meet the digital needs of the diverse customer base of SBI.” Catch all the industry news, bank news and updates on live currency. Download the Mint News app to get daily market updates. More Topics #SBI Mint Specialies