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www.finopaytech.com
FINO PayTech LimitedProject Crystal
www.finopaytech.com
“Vision Statement”
“To catalyze nation building by making every citizen financially secure”
FINO PayTech
Company Snapshot
• Founded in 2006, incubated within ICICI
• FINO is the largest Business Correspondent in India
• Clients: 19 Banks, 7 Insurance Cos, 12 State Govt, MFIs, Enterprises
• Active Business Correspondent Network: 25,000+
• Cumulative enrolments: 100 mn+
• Customer Transactions: 15 mn+ / month
• Cash handled: $2 Billion+ per annum
• FINO Payments Bank launched in June 2017 with 410 branches across 14 states
Investors
Strategic
Other
www.finopaytech.com
FINO- Journey & Lines of businessesSustainable growth through diversification
Journey so far
Current LOBs
www.finopaytech.com
Strengths built over 11 years of existence
Network & Scale
• 25K+ BC Points
• 350+ Fino Money Marts
• 100Mn+ Customers
• $2 Bn+ cash throughput per annum
• 15 mn+ monthly txn
• Rs 600Cr+ AUM
Partnerships
• 19+ Banks
• 12+ Govt Bodies
• 7+Insurance Agencies
• 10+ NBFC/Enterprises
• Financial Inclusion
• RSBY (GoI health ins)
• Domestic Money Transfer
• Direct Benefit Transfer
• MNREGA (Govt. wage disbursement)
• NDDB (Enterprise wage disbursement)
• BC Banking
• JLG Lending
• Remittances
• Utility Payments
• Wallet
Innovation Products
• Multi device: Web , Mobile, POS
• Multi Platform: Smart Cards, Aadhaar
• Authentication: Bio, OTP, PIN, Central
• Critical Integrations: UID, NPCI,IMPS, CBS
• In-house development & maintenance
Technology
RSBY: Rashtriya Swasthya Bima Yojana; MNREGA: Mahatama Gandhi National Rural Employment Guarantee Act; NDDB: National Dairy Development Board
www.finopaytech.com
Compelling Investment Case
• Emergence of India Stack ( including JAM) enabling Payments ecosystem
• To focus on serving end to end mass affluent / mass market along with MSME customers
• Well defined strategy for target customers- “Primary Bank” and “Preferred Payments Bank”
• NBFC/ BC Lending as a hook for customer acquisition
• Built state-of-the-art Bank with innovations
• Paperless banking,
• Mobile number banking,
• 4-minute account opening,
• Green PIN generation
• Doorstep Banking
• Highly scalable Phy-gital Bank model with massive distribution reach through 410+ branches , 25,000 BC points and mobile banking
• Strong partnership with BPCL- leveraging payments and infrastructure
• Secure, Scalable & Robust Technology designed to cater to Multi-Device, Multi-Platform & Multi-Product across operations
• Highly experienced management team with 190+ man-years experience in BFSI space
• Best placed amongst the competition – Evolved business model and comprehensive product portfolio
• Focus on Profitability
• Growth in existing business lines : Evolved business model of BC Banking , Domestic Money Transfer and NBFC Operations
• High growth in new business lines : Digital Payments and Retail Banking
Payments Bank Opportunity
Rich Background
• Built, “by far”, the largest network of Business Correspondent distribution channel (Total CSPs:25,000+)
• Sustainable 11+ years of growth through innovation, network strength, technology leverage and products diversification
• Proven track record: 100Mn + Customer enrollments; 15Mn+ /month Customer transactions
1
2Ideally Positioned to Capitalize the Payments Bank Opportunity
www.finopaytech.com
Market Opportunity
Source: Industry data
Been there. Done that.
$1584 Bn $2076 BnMicro Deposits $18 Bn $123 BnMicrofinance
$15 Bn $25 BnDomestic Money
Transfer$110 Bn $170 Bn3rd Party Payments$53 Bn $150 BnWallet & Prepaid
25K+ BC Points $ 77 Mn+ AUM
1 mn+ transactions pm Enterprise wallet 15+ Integrations
FY23EFY18E Products
www.finopaytech.com
FINO Payments Bank – Target customer segmentsTapping the Value from Mass market customers
• Core customer: For mass market (income INR 1-5 lacs) & mass Affluent (income INR 5-15 lacs) on retail side and MSME customers on corporate side- FPB will be
ecosystem creator enabling assisted service for banking products and services
• Low-Medium Focus: For affluent and mass affluent customers FPB will be the transaction enabler for payments and services
• Selective focus: For other customers we will provide services under financial inclusion domain * Percentage of Households
Retail Customers
(INR 1L)
(INR 3L)
(INR 3Cr)
(INR 125Cr)
Deprived (56%)
Mass Market (29%)
Corporate Customers
Large
Medium
Low-Medium Focus
Selective focus
Core Customer
(INR 15L)
MNC Banks
RRBs & Cooperative Banks
BC Banking Low Value
Highly Competitive
Transaction Value
Proliferation of Banking Channel
Private and MNC Banks
PSU & Private Banks, Wallets
Affluent(1%)
HNI
Addressable Micro Market
Small
(INR 15L+)
(INR 5L)Mass Affluent
(13%)
Untapped Value
www.finopaytech.com
FINO Payments Bank – Strategy Overview
FINO will build ecosystem in its core markets and customer segments while leveraging partnerships to power transaction enablement for broader segments
“Preferred Bank” “Primary Payments Bank”FPB Positioning
FINO Payments Bank (FPB)
Strategy
FPBApproach
Customer Characteristic
• Limited financial literacy• Low technology usage
• Develop digital payment ecosystem by on boarding consumers, merchants and their suppliers on to a digital platform
• Leverage customer and geography knowledge
• Provide a physical interface to the acquire customer. Slowly move the customer towards self service mode
• Financially literate• Medium technology usage
• Provide convenience to customer through partnership that adds value to customer
• Build customer understanding• Acquire and service through
digital route • Create hook through strategic
and business partnerships
EcosystemDevelopment
TransactionEnablement
www.finopaytech.com
“Phy-gital Bank”
Rural clusters Urban clusters
Assisted Digital Distribution-Anywhere Banking Digital – Anytime Banking
Customer opens Wallet
e-KYC for enhanced limits
Coverts to Bank account
Multiple payment options
Branches400+
Doorstep Bankers1600+
B Pay Wallet
Internet & Mobile Banking
UPI , AadhaarPay
Merchant Point20,000+
BPCLOutlets5,000+
Capture customer through “assisted” channels; Graduate towards digital platforms
www.finopaytech.com
Strategic partnerships across segments
Building scalability and reach through key strategic and merchant partnerships
Transaction EnablerEcosystem Development
• Provide credit & insurance products to customers and leverage existing physical infrastructure
• Leverage existing distribution
• Leverage network of large players
• Digitize G2C and C2G Payments such as DBT, subsidies , taxes and other chargesGovernment
• Government Billers, Tolls,
• Parking Lot, Public Transport,
• Kirana Stores, Pharmacy, Restaurants, Electronics, Utility bills, Organized Retailers, Financial expenses etc.
Unconventional Offline Merchants
Conventional Offline Merchants
Str
ate
gic
Pa
rtn
ers
hip
sM
erc
ha
nt
Pa
rtn
ers
hip
s
OMC/Retail Players/
Banks/ NBFCs/ Insurance
1
2
3
6
7
• Small merchant, e-tailing players, taxiaggregator, travel portals etc.
Online Merchants
8
• Enable seamless payment transaction processing and acquire customer base
eCommerce
• Ensure digitization of salaries and commissions as well as payouts throughout the value chain
Corporates
4
5
www.finopaytech.com
Our Board of Directors: Experience across consumer businesses
Dr. Punita Kumar Sinha Independent Director
• 27 + years of experience in asset management
• Engineer IIT-Delhi, C.F.A Charter Holder , MBA and Ph.D. from Wharton School, University of Pennsylvania
• Founder & Managing Partner of Pacific Paradigm Advisors
Mr. Pramod SharmaNominee Director from BPCL
Mr. Amit JainNominee Director from Blackstone
Mr. Anirudh KamaniIndependent Director
• Proven business leader with over 35 years of multi stream expereince and indepth knowledge about Information Technology
• B.Sc. (Hons) and M. Sc. From Delhi University.
• Investment Professional
• MD in the Private equity division of Blackstone group
• B.Tech (IIT-Kharagpur), PGP in Management-ISB(Hyderabad)
• 21 years of banking experience.
• Chartered Accountant
• Head – Rural and Inclusive Banking business vertical at ICICI Bank
• Co-founder of FINO PayTech Limited.
• Has also served as COO and CFO of FINO
• Has been awarded with “The Indian CFO award for excellence in finance in a startup ” in 2013.
• Prior Organizations include Maruti Udyog Limited, ICICI Bank, Intl Finance Corporation
• Other positions held: Chairman of Economic Affairs Committee, BCFI
• B.Com, Cost and Works Accountant and a merit holder Chartered Accountant.
Mr. MahendraKumar ChouhanChairman, Independent Director
• Senior business professional, Board Advisor and Management Educator
• Member of Ministry of Corporate Affairs Committee on National Corporate Governance Policy
• B.Sc. Graduate and an MBA in Finance
Prof N. VenkiteswaranIndependent Director
• Professor of Finance and Strategy at IIM, Ahmedabad
• More than 4 decades of academic & industry experience
• He has specialized knowledge in areas of finance, strategic management, and mergers, acquisitions
Mr. Narendra Kumar AmbwaniIndependent Director
• Experience of marketing consumer products for over 25 years
• B.Tech. (IIT-Kanpur), PGDBM-IIM (Ahmedabad)
• Ex- MD of Johnson & Johnson, India & Indonesia
Dr. Ganesh NatrajanIndependent Director
• Over 30 years of experience in Information Technology
• Post graduate from NITIE, Mumbai. Ph.d from IIT, Mumbai. Advanced Management Program from Harvard Business School, USA
• Chairman of Global Talent Track
Rishi GuptaMD & Chief Executive Officer
www.finopaytech.com
Our Management Team: Highly experienced & motivated
Anila RajneeshHead HR & Facilities Management
• Responsible for HR planning, recruitment, training, employee engagement as well as overlooking the administrative function
• Ex- Kotak Mahindra & HDFC Bank
Rajeev AroraChief Operating Officer
• Responsible for strategizing, delivering and further fortifying FINO`s end to-end Technology, Lending and the Central Operations across the company
• MBA from IIM Calcutta and BE(Electrical)
Ashish AhujaHead Products
• Responsible for executing projects and ensuring effective functioning of entire ground level operations
• Ex- armed forces, ICICI Bank
Vikaas GoelHead Corporate Business
• Responsible for BC business and customer acquisition for partners across sectors
• Manages relationship: ICICI Bank, BPCL etc
• B Tech (Electronics & Communications)
Bharat BhanushaliHead Technology
• Experience in IT and Finance sector in the Silicon Valley (US) and in India
• Responsible for defining, designing and executing technology roadmaps for Bank
10+25+
2+16+
6+25+
7+21+
4+21+
• Co-founder of FINO PayTech Limited.
• Has also served as COO and CFO of FINO
• Has been awarded with “The Indian CFO award for excellence in finance in a startup ” in 2013.
• Prior Organizations include Maruti Udyog Limited, ICICI Bank, Intl Finance Corporation
• Other positions held: Chairman of Economic Affairs Committee, BCFI
• B.Com, Cost and Works Accountant and a merit holder Chartered Accountant.
Rishi GuptaMD & Chief Executive Officer
11+23+
Mukund BarsagadeChief Financial Officer
Shailesh PandeyHead-Marketing & Strategy
Vipr BhardwajHead Channel
• Responsible for financial planning, reporting, treasury & fund raising activities
• Ex GE Capital, Experian, Transamerica
• Chartered Accountant
• Responsible for overseeing the bank roll out including engagement with RBI & PMO
• Creating brand visibility & awareness
• MBA Marketing from SIMS
• Has been pivotal in conceptualizing and starting the Lending business from scratch
• B Tech (Mechanical)
1+23+
6+20+
10+16+
Years with FINOExperience
www.finopaytech.com
Competitive Landscape – Best placed amongst competition
Payments Bank Product Offerings FINO India Post Payment Cos. Telco’s SFBs
Acceptance of Deposits
Opening of Bank Accounts
BC Banking
PPI / Wallets
Remittances/ Cash In
Payments & Recharges
Cash Management
JLG Lending
Financial Products Distribution
DBT/ Cash-Out
Experienced New
FINO has comprehensive experience across the Payments Bank product offerings which provides FINO a distinct and significant competitive edge
Payments Banks
www.finopaytech.com
Present and Future….
330 491 422
1823 1598
739
6181
9262
2819
5281
DMT DigitalPayments
Retail BC Banking Lending
Business wise Revenue (in INR Mn)
FY18E FY23E
66%
CAGR
85%
CAGR
9%
CAGR
18%
CAGR
27%
CAGR
DMT: Remittance & Bill Payments
Digital Payments: Payment Acquiring, Wallets, Prepaid
Retail: Deposits, 3rd Party products & services,
BC Banking: Banking activities for other banks
Lending: Own lending, Lending for Partners
Note: Gross revenue for all business lines is considered
www.finopaytech.com
Present and Future….
Company has been profitable since 2010. Recently has witnessed a lot of burn due to expansion activities undertaken now. The financials are as under:
1
www.finopaytech.com
Contents of this ppt are confidential and intellectual property of Fino Paytech Ltd.
THANK YOU