Fino analysis & strategy presentation 24.06.2010

An Indicative Brand Strategy

Presentation by

Carat Fresh Integrated

June ’10

Product

Financial InclusionA door-step delivery of various financial products/ brands to

rural India through use of technology & agent networks

Strengths Weaknesses• Largest acceptance among FI’s.• In-house Technology R&D team• ISO 9001:2000 certified centralized processing centre • Ground level agent network

oWorks with several partners to reach the remotest parts of the country

• Currently acts as an intermediary.• Low on brand recognition and awareness.

Opportunities Threats• More and more financial institutions wish to

reach out to the rural audiences.• Government boost to financial inclusion.• Opportunity to establish itself as a full fledged

finance organization in the future.• Catering to sectors other than finance.

• Banks become self reliant in the future and establish their own network.

• Low on brand awareness and recognition meansoThreat from the competitorsoFear of being substituted by a competitor

Expectations from the Agency

• Category Definition• Positioning Strategy• Brand Identity for FINO

– Brand colors,– Logo,– Stationery,– Website,– And other necessary elements

• Communication Strategy– Articulation of the brand positioning (punch-line, tag-line)– Determining the key messages – Figuring out the optimum Media Plan

• ATL• BTL

• Brand Health Monitoring Mechanisms

Carat Fresh’s Approach 2Parts

Carat Fresh’s Approach

Understand

Brand strategies of companies dedicated to ‘Financial Inclusion’

Recommend

Category Name (for FINO’s business model)

Direction for Brand Identity Direction for Positioning

# 1Understand

1. Analysis of FINO– Brand Architecture– Brand Identity

2. Analysis of companies dedicated to ‘Financial Inclusion’

– Brand Architectures– Brand Identities

Analysis of FINO

• Brand Architecture• Brand Identity

Overview:• About FINO• Solutions offered• Positioning• Branding Financial Inclusion solutions

Analysis of:• Brand Architecture• Category • Brand Identity

– Brand Name– Tagline– Typeface used for Name– Color(s) in the logo– Shape(s) in the logo– Sound of the brand name

About FINO

• FINO was founded on 13th July, 2006 with the single objective of building technologies to enable financial institutions (FIs) to serve the under-served and the unbanked sector and also to service the technology requirements of entities engaged in servicing the bottom of pyramid customers

• Current Reach– No of Customers: 21 Banks, 20MFI, 4 Insurance, 9 Govt Entities– No of Location Served: Over 26000– No of Transaction Point: 8330

FINO – Brand Architecture

Sub-brand strategy

FINO Tijori

FINO Saral

FINO Tatkal

FINO Parichay

FINO Sure

FINO Ravi

FINO Plus

FINO Mitra

FINO – Category

• Category– Financial Inclusion

FINO – Brand Identity

• Brand Name– FINO is an acronym for Financial Information Network and

Operations Ltd– FINO in Spanish represents Dolphin which is a symbol of

intelligence, friendliness, adaptability and networking

• Tagline– Enabling Financial Inclusion– Broadly defines the company’s overall offering

• Typeface used – The font is simple and in

capitals. There is no sharpness anywhere and every alphabet is smoothly rounded.

• Color(s) in the logo– Reflects hope, optimism and growth– The color-scheme gives an image of a ‘government

organization’

• Shape(s) in the logo– The orange hemisphere looks like a rising sun against the

yellow backdrop. Reflects country-side (rural) and a growing economy.

FINO – Sound

• Sound– The Brand Name is simple and easy to pronounce – Very few syllables

Analysis of companies dedicated to Financial

Inclusion

• Brand Architecture• Brand Identity

Types of Financial Inclusion Solutions

Organizations promoting their own

products

Organizations offeringIntermediary services

Financial Inclusion solutions

TechnologyTechnology

+Agent Networks

Microfinance

Brands Analyzed

• Technology• innoviti

• Technology+ Agent Networks• A Little World• M-NAIRA• WIZZIT• pagatech• ekgaon

• Microfinance• GRAMEEN BANK• SKS• unitus

innoviti

Overview:• About Innoviti• Solutions offered• Positioning• Branding Financial Inclusion solutions

About Innoviti

• Innoviti Embedded Solutions is a leading provider of information and commerce transaction processing solutions • Industries catered to

– Financial institutions, consumer facing businesses and government institutions.

• Innoviti provides transaction processing solutions in the areas of – secure identification,– payment processing – marketing technologies.

• Innoviti and its products have been the recipient of several honors ,– Design for Excellence Award for Vaayu, – the Red Herring award as one of top 100 companies in Asia in 2006– Wireless Innovation Contest award in 2007, Fullerton Technology Award in 2008.

Solutions Offered

Insurance solution

Microfinance solution

Payment Technology solutions

Unipay

Wireless payment solution

Driving database marketing

Biometric authentication

Secure Identification solutions

Microfinance

Driving license

Pension disbursement and monitoring

Attendance monitoring

Marketing technology solutions

Program material/ currency design

Data gathering/ analysis/ warehousing

Direct/ mass marketing

Coupons/ Merchandising

Customer/ retailer interface

ROI monitoring

Positioning

Simplifying Communications(says nothing about payment solutions and security of transactions.

Sounds more like a telecom company’s positioning)

Branding Financial Inclusion solutions

No separate brand name for its Financial Inclusion solutions

innoviti – Brand Architecture

Branded House strategy

innoviti

Payment technology solutions

Secure Identification solutions

Marketing technology solutions

innoviti – Category

• Category– Based on our understanding of the offering through various sources, we might be able to

articulate the category as

Secure Transaction Aids

innoviti – Brand Identity

• Brand Name– Innoviti connotes ‘Innovation’– Innovation in turn can be linked primarily to ‘technology’

• Tag Line– Reflects simplification of technology but has no connect with

transactions and payment solutions

• Typeface in the logo– Is small which signifies modern, new age– Is simple yet bold

• Color(s) in the logo– Logo has shades of blue and yellow– Blue conveys

• Importance and confidence – Example: the blue power suit of the corporate world

• Intelligence, stability– Yellow

• Is bold and gathers attention• Is the color of optimism and hope

• Shape(s) in the logo– The ‘i’s with the dots can be visualized as human beings, and

‘innoviti’ can be seen as connecting-the-dots (an oft used symbolism to reflect communication technology)

– The underline reinforces the brand name ‘innoviti’

innoviti – Sound

• Sound of the brand name– Rhymes with ‘innovation’, ‘innovating’ and hence gives it an

impression of an innovative organization.

SynopsisTech companies

A single company in the list to have only technology solutions without the aid of on-ground team.

Follows a branded house strategy with no sub-brand name for financial inclusion solutions.

Financial inclusion solution is only a part of the whole range of transaction/payment technology solutions they provide.

Brands Analyzed

A Little World

Overview:• About ‘A Little World’• Positioning• Branding Financial Inclusion solutions

About ‘A Little World’

• ALW is the developer of ZERO, India’s first domestic payment system with specific focus on reaching out to masses with lowest available communication infrastructure.

• ZERO creates the last mile operations network in villages, under pre-defined service agreements with Banks and front-ends the delivery of full-featured transactional services on behalf of Banks for Financial Inclusion on the ground

Positioning

Touch a billion people through innovative technologies and alliances at the bottom of the pyramid for delivering multiple financial services.

(A vision statement which also defines the mission of the organization.)

They have two brands operating in this space‘Zero’ & ‘mZero’

A Little World – Brand Architecture

A Little World uses a ‘Sub-brand’ strategy

A Little world

Financial InclusionZero

Mobile version of ZeromZero

A Little World – Category

• Category– Technology Services

A Little World – Brand Identity

• Brand Name– The name ‘A Little World’ connotes

• A world that is connected through technology• A world that is coming closer

– However it also connotes different meanings like • Little world of kids. It sounds more like the name of a playgroup.• A small family living a content life

• Typeface used • Can’t read much in the use of this

typeface

• Color(s) in the logo– The power of red shows the power of finance, emotions and

the power in relationships.– Relationship is the base of networking and the colour justifies

the brand’s proposition.

• Shape(s) in the logo– NA

A Little World – Sound

• Sound of the brand name– Great sounding name– Easy to remember

Brands Analyzed

E-SOFT solutions

Overview:• About ‘E-soft solutions’• Branding Financial Inclusion solutions

Analysis of:• Brand Architecture• About M-NAIRA• Positioning• Category • Brand Identity

About E-SOFT

• E-Soft Solutions Limited is a privately held Nigerian software development company incoporated with Coporate Affair commission with RC:779190

• It provides innovative, cost-effective and compelling web and mobile based software products and services

M-NAIRA is the sub-brand used for Financial Inclusion solutions

E-SOFT solutions limited – Brand Architecture

Sub-brand strategy

E-SOFT

M-NAIRA

Fincore soft

Mycollegeweb

Hospital switch

About M-NAIRA

• M-NAIRA is a proven innovative Mobile Money, Revenue Management and payments solution • It converts any mobile phone to a micro bank for the un-banked based on scratch cards and enabled by

any SMS enabled mobile phone

Positioning

Mobile Money Solution. Converts any mobile phone to a micro bank for the unbanked.

(links the brand positioning to the product offering)

M-NAIRA – Category

• Category– Mobile banking solutions

M-NAIRA – Brand Identity

• Brand Name– The name seems to be the combination of M & Naira– M represents ‘mobile’ & Naira is the basic unit of money in

Nigeria

• Tag Line– The tag line ‘MOBILE MONEY SOLUTION’ captures the

company offering.

• Typeface in the logo– The font of M-NAIRA reminds of the origin/ethnicity of the

service

• Color(s) in the logo– Green color in the background is representative of Islamic

population in Nigeria– The combination of white and green is seen as ‘sacred’ across

the Islamic world

• Shape(s) in the logo– The map of Nigeria in the background represents the reach &

local nature of the brand

M-NAIRA – Sound

• Sound of the brand name– Easy to pronounce

Brands Analyzed

WIZZIT

Overview:• About ‘WIZZIT’• Positioning• Branding Financial Inclusion solutions

About WIZZIT

• Mobile/ cell phone banking technology• Payment mechanism to the un-banked or under-banked• Empowering people

Positioning

Live.Life.Anywhere. With Wizzit you have your bank in your pocket.(talks about product benefit and adds an emotional appeal to the offering)

No separate brand name for its Financial Inclusion solutions

WIZZIT– Brand Architecture

WIZZIT

Salaries and wages

Affordable banking

Cell-phone banking

Debit/stop orders

WIZZIT – Category

• Category– Mobile banking

WIZZIT – Brand Identity

• Brand Name– It’s a combination of ‘WIZZ’ and ‘IT’ which could mean ‘a wizard

in IT’.– ‘Z’ is new age and also has a connotation of ‘special’, ‘high-end’.

• Tag Line– My bank in my pocket– Denotes simple & exhaustive nature of business

• Typeface in the logo– All capital letters signifies importance & seriousness– The tag line is in small letters

• Signifies simplicity achieved through mobile banking.

• Color(s) in the logo– Black, red and white are attention grabbing colors and are seemingly used for the same

purposes.

• Shape(s) in the logo– Red stripes represent

• The importance and the speed of the service• The simplistic form of mobile vibes/ signals and hence can be linked to

mobile banking.

WIZZIT – Sound

• Sound of the brand name– Very simple to pronounce– Denotes speed through pronunciation (the use of ‘zz’)

Brands Analyzed

pagatech

Overview:• About ‘pagatech’• Positioning

About pagatech

• Pagatech was founded in early 2009 with a vision to enable a cashless society and bank the unbanked in Africa

• Paga, which is the first product of Pagatech, is an innovative, open, secure, and interoperable mobile payments platform that allows any person who has a mobile phone to transact electronically

• Pagatech is building the network of banks (including micro-finance institutions), mobile operators, and trusted agent network required for success

Positioning

Your cash, anywhere, anytime.(talks about self reliance and the convenience of using pagatech services)

pagatech– Brand Architecture

pagatech

Send Cash

Bill Pay

Buy Airtime

pagatech – Category

• Category– Mobile Banking

pagatech – Brand Identity

• Brand Name– The origin of word ‘paga’ is in Hebrew which means ‘to meet’

and ‘tech’ represents ‘technology’– Hence ‘pagatech’ signifies networking by means of technology

• Tagline– NA

• Typeface used – Typeface used is small letters

which is representative of ‘new age’

– Bold font of ‘paga’ puts more emphasis on networking over technology.

• Color(s) in the logo– The black color of ‘paga’ and gray color of ‘tech’ indicates the

importance of networking over technology– The orange color of the circles indicates warmth and energy.

• Shape(s) in the logo– Circles of the different shapes indicate the networking at

different levels– The dots form a full circle which is representative of ‘efficient

use of resources’.

pagatech – Sound

• Sound– Traditional and ‘new-age’ words forming one word bring out

the essence of the offering– Easy to pronounce with few syllables

Brands Analyzed

ekgaon

Overview:• About ‘ekgaon’• Positioning

About ekgaon

• ekgaon offers a range of technology solutions for enabling financial inclusion for banks

• ekgaon is focused on creating a global village where freedom, equality, respect for environment and culture, coexists with the human desire to learn, grow and attain spirituality in harmony with nature

Positioning

One village, one world(talks about uniting. Also connotes the huge potential that lies in one village.)

Ekgaon – Brand Architecture

ekgaon

System Analysis

System Development

User centric Design

Localization

Training & Support

Strategic Consulting

Event management

Ekgaon – Category

• Category– Not sure.

Ekgaon – Brand Identity

• Brand Name– The origin of the brand name is in Hindi language which means

‘one village’– Indicates the place & the nature of the business

• Tagline– It signifies the company vision of creating a global village.– It can also mean creating a world within a single village.

• Typeface used – Small letters reflects new-age

and cutting-edge business that the company is into

• Color(s) in the logo– The green color of the letter ‘gaon’ signifies the basis of the rural economy which is

agriculture– Dark black color of the letter ‘ek’ emphasizes the mission of the company.– It may also have been used to separate ‘ek’ from ‘gaon’ to facilitate the ease of

pronunciation.

ekgaon– Brand Identity

• Shape(s) in the logo– The Brand Name is mentioned in small case with no significant

shapes

ekgaon– Sound

• Sound– Difficult to pronounce unless one understands the meaning of

the term ‘ekgaon’

Synopsis(tech+ agent network) companies

The tech+agent network companies have adopted either a branded house of a sub-brand strategy

The brand names connote1. A small world formed as a result of technology

2. Convenience of mobile banking

Networking through technology

Brands Analyzed

GRAMEEN BANK

Overview:• About ‘GRAMEEN BANK’• Positioning

About GRAMEEN BANK

• Grameen Bank (GB) follows non conventional banking practice by removing the need for collateral and creating a banking system based on mutual trust, accountability, participation and creativity.

• Industry Credentials: – SWITZERLAND : Aga Khan Award For Architecture : 1989– BELGIUM : King Baudouin International Development Prize : 1993– BANGLADESH : Independence Day Award : 1994– MALAYSIA : Tun Abdul Razak Award : 1994

And many more

Positioning

Banking for the poor(clearly links the brand to the rural community.)

GRAMEEN BANK – Brand Architecture

Grameen BankGrameen Trust

Grameen Fund

Grameen Fisheries

Grameen Telecom

Grameen Cybernet

Grameen shakti

Grameen Phone

Grameen Education

Grameen Knit wear

Grameen solutions

Grameen byabosa Bikash

GRAMEEN BANK – Category

• Category– Microfinance

GRAMEEN BANK – Brand Identity

• Brand Name– Grameen means "rural" or "village" in Bangla language making

the brand name resonate clearly in a poor man’s ears

• Tag Line– Banking for the poor– Reflects the services clearly

• Typeface used – Capital letters give it the

required seriousness– Forward slant in the tagline

reflects confidence and positivity, progress and growth

• Color(s) of the logo– House in RED signifies the colour of BRICKS– Green is the colour of growth and symbolizes the basis of rural

economy & prosperity – Alternatively , the colors reflect Bangladesh

GRAMEEN BANK– Brand Identity

• Shape(s) in the logo– The house in the logo can be visualized as an upward arrow

which again emphasizes on the prosperity aspect.– The house also symbolizes small scale enterprises

GRAMEEN BANK – Sound

• Sound– The word Grameen is easy to pronounce and since it is in the

regional language, it elicits a feeling of belonging

Brands Analyzed

SKS MICROFINANCE

Overview:• About ‘SKS MICROFINANCE’• Positioning

About SKS

• SKS distributes small loans to poor women so they can start and expand simple businesses and increase their income

• SKS uses the group lending model where poor women guarantee each other loans. Borrowers undergo financial literacy training and must pass a test before they are allowed to take out loans.

• Re-payment rates on collateral-free loans are more than 99% because of this systematic process

Positioning

Providing microfinance to underserved section of society.(clearly links the brand to the rural community.)

SKS Microfinance – Brand Architecture

SKS uses a sub-brand strategy.

SKS Microfinance

Aarambha

Vriddhi

Raksha

Life Insurance loans

Sangam Store loans

Housing Loans

SKS – Category

SKS – Brand Identity

• Brand Name– SKS stands for Swayam Krishi Sangam, which in Hindi means

”self-cultivation society”.

• Typeface– The typeface is bold. Strengthens the ambitious nature of the

SKS’s business.

• Color(s) of the logo– Sky-blue reflects the all-inclusive nature of SKS’s financial

products and the positive impact on all the members– The sombre grey signifies the seriousness of SKS’s intent and

commitment to fulfil the needs of customers and stakeholders

Shape(s) in the logo– There are five women sitting in a circle which is core to the

business as they offer loans only to women– Five women in a group also signifies the group-lending model

that SKS uses.– The grey semi-circle shows a cover of protection on them

• Sound– Three syllables with alliteration

Brands Analyzed

unitus

Overview:• About Unitus• Positioning

About Unitus

• unitus, an international non-profit organization, fights global poverty by accelerating the growth of microfinance—small loans and other financial tools for self-empowerment—where it is needed most.

• unitus works with microfinance partners and other emerging enterprises in India, Southeast Asia, East Africa, South America, and Mexico

• unitus’s microcredit loan is supported by a range of client-supporting products and services such as business skills training, savings programs, and basic insurance plans.

Positioning

Innovative solutions to global poverty(does not talk about a particular class of people. i.e ‘poor’. Rather talks of

addressing the issue of poverty through innovative solutions.)

Unitus-Category

unitus– Brand Architecture

Branded house strategy

unitus

unitus capital

unitus equity fund

unitus– Brand Identity

• Brand Name– Derived from two words ‘unity’ and ‘us’, thus giving it a

meaning of ‘togetherness’.– The name gives a feeling of security and protection.

• Tag Line– Showcases Unitus as an organization with multiple offerings

• Typeface in the logo– Bold fonts reflect solidarity– The edge of ‘t’ is cut perfectly to give a sharp slant that breaks

out of the monotony

unitus – Brand Identity

• Color(s) in the logo– A small green dot on top of the letter ‘I’ signifies prosperity and can also represent the

rural economy.– The ‘i’ in unitus gives it a human touch as the shape of ‘i’ is representative of the shape

of a human being.

unitus – Brand Identity

• Sound– The pronunciation is simple and gives the feeling of Unite Us in it

Synopsismicro-finance companies

Most companies analyzed in this category follow a Branded House strategy.

The name, logo or the tagline includes the term ‘poor’, ‘village’ to form a connect with the rural population

# 2Recommend

• Direction for Category Naming

• Positioning

# 2Recommend

• Direction for category Naming

• Positioning

Category Name: why is it important?

Finance

Financial Inclusion

SHGs Mobile Banking Microfinance How do we name the category for FINO?

Investment companies

Insurance CompaniesBanks

When we need to buy something to wash hands, we ask for either a hand wash or a soap

When we wish to watch a movie on a big screen, we either go to a single screen or a multiplex

What would we say when we wish to avail of services like FINO?

Currently when the industry wishes to speak of Financial Inclusion, it approaches organizations like Banks, Insurance companies or entities

like Grameen Bank

The industry does not approach FINO since there is no recognition of the role that this category plays in Financial Inclusion

The recognition of the role comes with identifying the category and defining it appropriately for all stakeholders

Once this is done, the industry will start recognizing FINO as a major contributor in the umbrella category of Finance

Category Name: Based on FINO’s business model

Do we have a full grasp of the significance of FINO’s business model?

So, how do we classify FINO into a category?

Banks DSA End Consumer

Foreign Universities

Educational Consultants Indian Students

Insurance Companies Insurance Agents End Consumer

Hotels Travel Agents End Consumer

For example

Financial Institutions FINO End Consumer

How does FINO categorize itself as part of the entire value chain and as part of

people’s lives?

Financial Institutions FINO End Consumer

FINO acts as a channel between the Financial Institutions and the end consumer

Hence, using the term channel in the context of FINO, we can get the corresponding category name

Category Name: Recommendations

Alternate Banking and Finance Channel

Option 1

Category Name: Recommendations

Financial Inclusion Channel

Option 2

# 2Recommend

• Positioning

# 2Recommend

• Positioning

Positioning for FINO – Key Considerations

First & the largest player providing such service in the Indian market

Largest customer base in the country

Largest network of agents to reach out to the rural audience.

Option 1

Positioning for FINO

India’s Largest Alternate Banking and Finance Channel

India’s Largest Financial Inclusion Channel

Positioning for FINO – Key Considerations

FINO opens up a multitude of financial opportunities for the rural consumer

These opportunities are changing the lives of the rural community and uplifting them on the financial front

Option 2

Positioning for FINO

Changing Lives of Millions

Further Work

• Category Definition• Positioning Strategy• Visual Identity for FINO

– Brand colors,– Logo,– Stationery,– Website,– And other necessary elements

• Brand Manual• Communication Strategy

– Determining the key messages – Figuring out the optimum Media Plan

• ATL• BTL

• Brand Health Monitoring Mechanisms

Investment

Rs15 lacsService Tax extra

Duration

45 days

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