In a rare feat, Indian fintech startup Slice has successfully entered the country's tightly regulated banking sector by merging with North East Small Finance Bank. This move transforms Slice into a banking entity, allowing it to access capital at a lower cost and gain direct control over its lending operations.

The merger will enable Slice to expand its services beyond digital payments and lending to offer traditional banking products like savings accounts and investment products. This development is significant, as it marks one of the few instances of a startup successfully entering India's banking market.

In other fintech news, Finix has raised $75 million to take on competitor Stripe, while Upflow is shifting its strategy to become a B2B payment platform. Remote, an HR platform, is launching a new product to manage equity compensation. Meanwhile, SoLo Funds is facing a class-action lawsuit over alleged misleading advertising practices.

The fintech landscape is rapidly evolving, and these developments are set to have a significant impact on the industry. Stay tuned for further analysis and insights from our Fintech Stage at the annual Disrupt conference.