Fino paytech is a payment bank which was established on july 13, 2006.

It has its headquarters in

Mumbai, India. It is the largest smart cards issuer through the branchless banking model. The company
provides independent validation services to banks, micro-finance institutions, government entities and
insurance companies. As an alternate banking channel, Fino Paytech enables seamless end-to-end
customer sourcing and servicing. It provides customer enrollment, Hardware and operations solutions
which results in higher operational efficiency, better risk management, informed decision making,
greater transparency, scalablity, increased and diverse product portfolio. It has an effective MIS for
monitoring of field force and transactions

Fino Paytech is an institutional investor-driven company owned by international and Indian investors. It
extends the micro payment services horizon to small business, migrant labour workforce, low income
households and different remote areas of the country especially the unorganised sector in India. It offers
revolutionary technology solutions to improve the operational efficiency of social benefit schemes such
as the Mahatma Gandhi National Rural Employment Guarantee Scheme MGNREGs and Social Security
Pensions - SSP. These benefits are transferred through the electronic benefit transfer (EBT) scheme,
which is a part of the overall Financial Inclusion Plan (FIP), where to begin with, a bank account is
required to provide a range of permissible banking services. It has also enrolled over 25 million families
under Rashtriya Swasthya Bima Yojana (RSBY) which is a cashless national health insurance welfare
scheme introduced by the Government of India. It has successfully implemented AEPS for the banks
involved in welfare payments through BCs using Micro ATMs under DCT. FINO has also successfully
executed FLPs for big names like the World Bank, IFC, Microfinance Opportunities, ICICI Bank, UNDP-
NABARD and NABARD.

Its key services are:

Business correspondent services:

Their business correspondent services enable banks to financially include the underserved and unserved
rural masses, by offering a bouquet of financial services like savings, deposits, insurance and remittance
through a pan India network. Fino Paytech is the largest business correspondent in India, having
extensive reach in as many as 499 districts. They also implement the government's EBT scheme to
beneficiaries across India.

Consultancy services:

Fino Paytech Consultancy Services (FCS) has been created to bridge the gap between formal financial
institutions and unbanked populations across the world, and to add value to emerging branchless and
micro banking channels across the developing world. Fino Paytech aspires to do this through its
consultancy services and knowledge sharing.

Fino Paytech provides its consultancy expertise to national governments, central banks, commercial and
cooperative banks, microfinance institutions, insurance companies and not-for-profit institutions. FCS
brings on board unmatched capabilities in the areas of technology architecture, strategy and planning,
implementation, product designing, regulation and policy framework, channel management and
capacity building.

Financial literacy:

Access to financial services, along with creating the necessary awareness about financial systems,
collectively go a long way in achieving the goal of financial inclusion.
Currently, there is a dearth of financial services and financial education among the unbanked and
underserved masses. Fino Paytech aspires to bridge this gap through its structured and customised
financial literacy programmes (FLP).

Thus, Fino paytech is spreading its wings all around by bringing a great positive revolution in the banking
sector.