Tamilnad Mercantile Bank (TMB) has announced a strategic partnership with Wegofin Digital Solutions Pvt. Ltd. to expand its digital banking and financial services footprint.
As part of the collaboration, TMB will introduce the Banking-as-a-Payment Aggregator (BAPA) model aimed at empowering MSMEs, startups, and enterprises with advanced financial solutions. Wegofin will act as the Technology Service Provider, enabling TMB to strengthen its digital offerings across merchant acquiring, automated payouts, fraud risk management, and compliance-driven operations.
Key highlights include the launch of Wegofin’s RBI-compliant SaaS platforms AcquireX and DisburseX, designed for merchant onboarding, bulk disbursements, and UPI transaction settlements. The partnership will also leverage Wegofin’s AI-powered risk engine, which has a fraud detection accuracy rate of 83.21% with sub-minute flagging.
TMB stated that the move will help drive CASA growth, unlock new non-interest income streams, and strengthen its position in digital-first banking.