presentation at upaam 20.07 - upati.gov.inupati.gov.in/mediagallery/new_finp_ppt1.pdf · fino rsby...
TRANSCRIPT
Presentation At UPAAM
20.07.2010
FINO Featured in Outlook Business
• Re 2/- only for State of the art banking
technology
• Opening of simple Banking Accounts to changing
lives of almost 1 crore people as of today
• 11 People – 11000 officers in less than 3
yearsyears
• FINO – FINO Fintech Foundation – FINO
Fintech Trusteeship Services Limited to
Financial Literacy Academy
• Growing more than 500% YOY
• Sectoral Entity – Mission 100% Financial
Inclusion
What Do We Do?
• Turn key
Projects
• Mission
Critical
Projects
• Reaching
out to
millions
• Nation
building
initiatives
FINO –A Sectoral Entity
FINO’s Presence
Our ClientsBankingBanking InsuranceInsurance
CorporateCorporate
MFIMFI GovernmentGovernment
Our Partners
Hurdles in Serving BoP
Information Gap
Illiterate Populace
Infrastructure
Accessibility & Reach
Information Gap
Infrastructure
9
Accessibility & Reach
Foolproof IdentityFoolproof IdentityFoolproof Identity
Illiterate Populace
Experience
Gained over
last 3 years
of study,
pilots and
rigorous
testing
Process Flow- Smart Card & POT Machine
1. Enrollment
ProcessData Collection System
Demographic Details
Biometric Details etc.
4. Transaction
data loadingTo Integrated
Core Banking System
Through phone line (PSTN)
2. Issuance of
Biometric Enabled
Multi-Function CardDiverse points of usage
Hand-held devices
ATMs, Point of Sale counters
PCs/Card Interface
3. Financial Transactions
Through Field DevicesSingle Device supports
multiple application
FINO’s Product Offering
FINO’s Service Offering
•• ServicesServices• Business Correspondent
• UID
• Social Security & Pension
• NREGA
• Corporates
• Bill Payments
• Reaching Isolated
Locations• NREGA
• Banking
• Micro Finance
Locations
• Credit Bureau
• Education
Product Delivery Medium
•Biometric Smart Cards
•POT Machines
•Mobile Phones
•Micro Deposit Machine
Micro Deposit Machine (MDM)
Customer Interactive Display
Keypad
Smart Card Reader
Voice Prompts
Keypad
Cash acceptor
Secure Safe
Biometric Reader
Transaction Receipt Printer
FINO Projects
NREGA
FINO RSBY
UID
NDDB
The Journey So Far
• Commenced operations June 2006
•1,000,000 Customers: March 2008
•2,000,000 Customers: July 2008
•3,000,000 Customers: November 2008•3,000,000 Customers: November 2008
•5,000,000 Customers: March 2009
•10,000,000 Customers: Jan 2010
•15,000,000: 8th June 2010
Customer Base
20
banks
9Govt entities, 4 Insurance
cos
22 States,233 Districts
36,562 Locations
8,456 Transaction Points
2 Mn. Monthly Transactions with Avg. monthly volume of 525 Mn.
16 Million Customer Base
Highlights: Average Transactions
Average Minimum Balance:
Rs 110.00 ($ 2.00)Rs 110.00 ($ 2.00)Average of 2 Transactions per Month
Biometric Smart Card
r r r r r y y g s s v v v v v v c
Serial number Gender Village Code
Year of Birth State Check Digit
Delivery MechanismsSmart Card
• 64 KB memory size with 15
pockets 16 digit Unique Reference
Number
• Personalised and Branded
• Acts like a combination of ATM
card and Passbookcard and PassbookHandheld & Mobile Device
• Standard readymade J2EE
compliant available hardware
• Software developed by FINO
• Integrated Card reader, Fingerprint
reader, Monochrome screen, Keypad,
Printer, Memory and Battery
• Audio Prompts (optional)
Key Learning
•Multiple Products required for long-term BCSustainability
•State Govt. Drive Federal Initiatives in India
•Public Mandates is a Key Driver Shaping PublicPolicies pertaining to FIPolicies pertaining to FI
•Financial Literacy Programs
•Bandhu/BC/DC Training
•Technology has to be Simple to Use, Scalable &Robust
•Cash & Project Management
Experience at Field Level
• Banks would never want to deal with 1000s of points directly
• Need of entities that can
� Set-up the BC network
� Manage risks – operational, reputation
�In turn have strong processes of member / bandhu selection
� Manage cash movement and financial risk
� Train, Cross-sell and make customer financially literate
There is no such “available” entity at present!!!
Business Correspondent Model (BC)
District
Coordinator
District
Coordinator
Block Block Block Block Block
Coordinator
Block
Coordinator
BandhuBandhu BandhuBandhu
Block
Coordinator
Block
Coordinator
BandhuBandhu
Field Management: Samvaad
I BC
Met (more than 1 time)
Met (1 time)
Not Met
Agra Amritsar Bangalore Rural Barddhaman
Laxmijkant Paliwal Parveen Kumar Raghavendra Jakir Hussian
Mukesh Inderjit Singh Bhimasenacharya Kishor Sadhu
Ramprakash Surjit Singh Babu Basudev Ghosh
Sashikant Bawa Singh Narasimhamurthy.K.N Sk Sultan
Praveen Sukhdev Singh Sampath Molla Md Ismail
Netrapal Kapil Meet Singh Narayanaswamy.A Rajat Kumar Mondal
Jugendra Jasbeer Kaur Narayanaswamy.G Intajul Haque
Santosh Gurmangat Singh Balaji Shetty Sk. Hedayatulah
Laljeet Navdeep Singh Suresh Sk Basiruddin
Pradeep Gurdev Singh Munigowda Ismail Mondal
Gautamsingh Gurpal Singh Jaganath Sk. Sirajul Haque
Chandra Ranjeet Singh Raghavendra Cm Sk. Basir Ahamed
Chandrabhan Venkatesh.G Sufiar Rahaman
Trivendra Srinath Sanat Karmakar
Mahesh Krishnappa Sekh Borjhan
Rajesh Wazir Ahmed Abdus Salam
Pramila Venu Suman Kalyan Dey
Nemi Arun H.N Bablu Mondal
Pittam Chandrashekar Reddy Subhamay De
Mohan Rajanna Gn Tapan Das
Dheerendra Anil Kumar.N Parvej Kamal Sikdar
Manjunath Sk. Nur Jamal
Laxpatu Badsha Alamgir Sekh
Rajashekar Amit Ghosh
Mahiruddin Haque
Pradip Nayek
Belowar Hossain Mondal
Hriday Ghosh
Bijoy Das
Choudhuri
Rabindra
Samir
Field Management:Samvaad II
AadhaarA Division of FINO Fintech Foundation
“Empowering needy women to become economically self reliant through
sustainable access to integrated financial services at minimal cost”
• A pilot for group lending at Satna, Madhya Pradesh.• A pilot for group lending at Satna, Madhya Pradesh.
• Rolled out operations on November 12, 2009.
• More than 1000 customers enrolled in 2 months.
• First milestone of 1 crore disbursement on
Jan 19,2010.
• 100% repayment till date.
Social Impact
Regular
Employment
and Prompt
payments
Healthcare for Bringing
People to Healthcare for
all
A unique
identity for
every Indian
People to
Connect to
the Economy
Benefits of the FINO System
• Customer validation through foolproof biometrics
• Offline transaction capability
• Electronic transaction Infrastructure
• Multi-application Smart card
• Fast payment and reporting
• Low cost and simple to use
Thank YouThank You