Fingpay - Access Assist Presentation · India One time set up and integrations from Corporates...
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Fingpay Cashless | Paperless | Effortless Date: 11th December, 2018 Verifications | Collections | Banking Services
Transcript of Fingpay - Access Assist Presentation · India One time set up and integrations from Corporates...
FingpayCashless | Paperless | Effortless
Date: 11th December, 2018
Verifications | Collections | Banking Services
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Typical Profile
TARGET CONSUMERS
• Rural Consumers
• Typically women entrepreneurs
• MFI customers
• 87% of MFI borrowers have
Bank accounts
• More oriented towards savings
Social Impact
• Lack of Access to Banking and
Financial Services
• Lack of instruments for digital
payments
• High Cost for availing Banking
services
• Difficult to get control over
finances
Gender Equality in Financial Inclusion
Pain Points
Product - Value Proposition
Access to Banking and Financial services
Access to credit through MFIs
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Bank Account Opening
AEPS - Micro ATM
Bill Payments
Money Transfer
Verifications
Disbursements
EMI Payments
Add on services
CURRENT PROGRESS MARKET POTENTIAL SCALABILITY
Business ModelBanking Correspondents Micro Finance Solution
Aggregation through distributorship model
Verification & Onboarding EMI Collections (CMS and Digital)
Over 5 Lakh BC points in India
One time set up and integrations from Corporates Recurring charges on transactions
• 18+ Financial Institutions• 2 State Government Partners• 40K+ Business
Correspondents
• Transactions by value till date • INR 3.5 Bn• Average ticket size - INR 1200• 20% MoM Growth
• 200+ MFIs 1.5 Lakh Crore Portfolio
• 25K Average Loan size • 3.5 Crore+ No. of.
Borrowers • INR 1500 Average EMI Size
• 5 Lakh+ Business Correspondents
• 0.50 to 1% earnings of total transaction volume
• Asset-light Distribution Strategy
• End to End fully automated, technology driven operations
• Plug and Play solutions for quicker uptake
Revenue Source
Changing Consumer Behaviour
Cash is a Cost, yet majority of the payments are in Cash
Need for more focus on Rural Payment Infrastructure
Key Challenges
Challenge: Banks are Intermittently Inoperative on AEPS platform Solution: Open Bank Accounts via App
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Challenge: Insufficient Balance in customer’s account
Solution: Created BC points
Challenge: Training and Capacity Building
Solution: Simple and Vernacular App
Challenge: Low Network Connectivity Solution: App that works seamlessly on low end phones with 2G speed
Challenge: Reconciliation issues
Solution: Single Window Dashboard
Demand Sheet Feature
Challenge: Only 70% Cashless
Solution: Cash Drop feature to make collections 100% Cashless
Industry Challenges
