AU Small Finance Bank Limited has informed the Exchange regarding a press release dated September 22, 2025, titled "Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations )".
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AU Small Finance Bank has entered a strategic partnership with Zaggle Prepaid Ocean Services to launch co-branded retail credit and prepaid cards. The alliance will offer a retail credit card with Third-Party Application Provider (TPAP) integration and an AI-powered recommendation engine, alongside a commercial credit card portfolio leveraging Zaggle's enterprise network and Zatix SaaS platform. A co-branded prepaid card program for corporate clients with multi-wallet tax-saving features is also part of the deal. Additionally, Zaggle will use AU SFB as its primary banking partner in southern India. AU SFB, India's largest small finance bank serving 1.16 crore customers across 2,505 touchpoints, has in-principle RBI approval to transition into a Universal Bank.
This is a positive, low-capital partnership that expands AU SFB's credit and prepaid card offerings, potentially boosting fee income and corporate client acquisition. It also strengthens the bank's positioning ahead of its planned Universal Bank transition, which could be viewed favorably by investors.