Fino Payments Bank Listed
Fino Payments Bank: Business Model Canvas
The nine-block Business Model Canvas, filled in only where a public source states it — empty blocks mean we haven't found a citable fact yet, not that the answer is zero.
Value Propositions
It counters the conventional banking approach with an asset-light alternative.
sourceIt is positioned as a local banking partner that offers a friendly, simplified and proximate service.
sourceMeets the growing needs of financially underserved segments, comprising a mix of low-income households, gig economy workers, and rural communities.
sourceServes over 16 million customers through more than two million merchants, covering 97% of India's pincodes.
sourceCustomer Segments
Fino Payments Bank meets the growing needs of financially underserved segments, comprising a mix of low-income households, gig economy workers, and rural communities.
sourceServes rural communities across India via an assisted-digital, merchant-led ecosystem.
sourceFino serves over 16 million customers through more than two million merchants, covering 97% of India's pincodes.
sourceCustomer Relationships
Channels
The Bank's asset-light business model makes a prudent use of merchants acting as representatives, fulfilling the banking and financial needs of their communities. This network comprised around 18 lakh merchants at the close of FY 2023-24 across all States and Union Territories.
sourceMobile banking through the FinoPay app is one of the Bank's core distribution products.
sourceBusiness Correspondent Banking is listed among Fino's core products/channels.
sourceFino Bank's assisted-digital ecosystem (phygital) integrates physical and digital service.
sourceKey Activities
Current and savings account (CASA) is listed among Fino's core products; the Bank opened an average of 8,685 bank accounts per day in FY 2023-24.
sourceDomestic Money Transfer and International remittances are listed among Fino's core products.
sourceMicro ATM / Aadhaar enabled Payment System (AePS) is listed among Fino's core products.
sourceCash management services (CMS) is listed among Fino's core products.
sourceThe Bank's asset-light business model makes a prudent use of merchants acting as representatives, fulfilling the banking and financial needs of their communities; this network comprised around 18 lakh merchants at the close of FY 2023-24.
sourceKey Resources
The Reserve Bank has issued a licence to the bank under Section 22(1) of the Banking Regulation Act, 1949 to carry on the business of payments bank in India; the bank commenced business operations on June 30, 2017.
sourceFino Bank developed its own UPI switch that helped strengthen UPI throughput contribution to 30% of the overall FY 2023-24 throughput -- among a select few banks to have one.
sourceThis network is growing rapidly and comprised around 18 Lakh merchants at the close of FY 2023-24 across all States and Union Territories.
sourceKey Partnerships
Fino PayTech Limited is the Bank's sole promoter, specialising in technology-based solutions and services for financial inclusion.
sourceFino Payments Bank is a subsidiary of Fino Paytech Limited, which is backed by marquee investors like Bharat Petroleum, ICICI group, Blackstone, IFC, Intel and LIC among others.
sourceFino Payments Bank is a subsidiary of Fino Paytech Limited, which is backed by marquee investors like Bharat Petroleum, ICICI group, Blackstone, IFC, Intel and LIC among others.
sourceFino Payments Bank is a subsidiary of Fino Paytech Limited, which is backed by marquee investors like Bharat Petroleum, ICICI group, Blackstone, IFC, Intel and LIC among others.
sourceFino Payments Bank is a subsidiary of Fino Paytech Limited, which is backed by marquee investors like Bharat Petroleum, ICICI group, Blackstone, IFC, Intel and LIC among others.
sourceFino Payments Bank is a subsidiary of Fino Paytech Limited, which is backed by marquee investors like Bharat Petroleum, ICICI group, Blackstone, IFC, Intel and LIC among others.
sourceFino Payments Bank is a subsidiary of Fino Paytech Limited, which is backed by marquee investors like Bharat Petroleum, ICICI group, Blackstone, IFC, Intel and LIC among others.
sourceRevenue Streams
Revenue of remittance segment for FY 2023-24.
sourceRevenue of CASA segment for FY 2023-24, including CASA renewal income.
sourceRevenue of Business Correspondent banking segment for FY 2023-24.
sourceCost Structure
FAQs on Fino Payments Bank
What is Fino Payments Bank's business model?
Fino Payments Bank's core value proposition centers on Asset-light alternative to conventional banking, Local, friendly, proximate banking partner, Financial inclusion for underserved segments, Near-universal reach across India.
How does Fino Payments Bank make money?
Fino Payments Bank's cited revenue streams include Domestic and international remittances, CASA (current & savings account) income, Treasury and other segments, Cash management services (CMS).