Financial Information Network & Operations Pvt

Financial Information Network & Operations Pvt. Ltd. (FINO PayTech) is a fintech company founded in 2006 by Manish Khera and Rishi Gupta, with its headquarters in Navi Mumbai, India. Incubated by ICICI Bank, the company was established to provide technology solutions and services that promote financial inclusion for India's unbanked and under-served populations. Rishi Gupta, a chartered accountant with prior experience at ICICI Bank and International Finance Corporation, is a founding member and the current MD & CEO, having been instrumental in the company's growth.

The company's core business revolves around a 'phygital' model, combining a physical network of banking outlets with digital technology. This network serves as a business correspondent for various banks, offering services like customer sourcing, account opening, and transactions at the customer's doorstep. In 2017, FINO PayTech launched its subsidiary, Fino Payments Bank, after receiving a license from the Reserve Bank of India. The bank offers a range of digital financial products, including savings and current accounts, remittance services, insurance, and loan referrals, primarily generating revenue from fees and commissions.

FINO PayTech serves a diverse client base that includes individuals, micro, small, and medium-sized enterprises (MSMEs), as well as institutions like banks, insurance companies, and government entities. The company has been involved in significant government projects, such as the Rashtriya Swasthya Bima Yojana (RSBY) health insurance scheme, showcasing its capability in large-scale technology implementation. Over the years, FINO has received numerous accolades, including the Forbes India Leadership Award in 2012 as an "Outstanding Start-up" for its work in building a vast business correspondent network.

Keywords: financial inclusion, digital banking, payments bank, fintech, business correspondent, rural banking, phygital model, remittance services, micro-insurance, MSME financial services, Aadhaar-enabled payments, last-mile banking, branchless banking, financial technology, India, payment solutions, digital payments, assisted digital ecosystem, customer sourcing