The Hindu Business Line : Smartcard solutions provider FINO on growth path

Coimbatore, Nov. 23 Mumbai-based, biometric-enabled smartcard solutions provider FINO (Financial Information Network and Operations Ltd) is on a rapid growth journey.

“Market sentiments may be down, but we are growing exponentially,” its Chief Executive Mr Manish Khera told Business Line.

While admitting that the Government was acting as a motivator in bringing convergence in the financial inclusion space, he said, “Our reach is phenomenal. About 10 banks, 20 micro financial institutions, three insurance companies and four Government entities have signed up with us. Our current enrolment (of unbanked customers) has crossed 22 lakhs and we are confident of surpassing our current year’s target of 40 lakhs, considering the pace at which these numbers seem to grow.”

He said, “We have to take cue from the success stories of the FMCG and telecom providers, market our products well and make a dent.”

Products on offer

FINO now offers a complete suite to meet the financial inclusion needs of financial institutions by developing products such as FINO Tijori (no-frills account), Saral (an end-to-end micro-loan management solution), Tatkaal (payment and remittance), Sayana Ravi (offering financial advice), Sure (insurance), Plus (deposits/investments) and Paricha (Credible financial identification).

“We have very recently inked an agreement with State Bank of India and have started acquiring customers for them,” he said.

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