FINO Pay Tech — A Path towards Financial Inclusion

The Indian growth story has been showing tremendous change with Financial Inclusion, providing financial services and facilities to low income group and unbanked section of the society. With the help of business Correspondents like FINO Pay Tech, armed with latest technology, provide convenience and affordability of banking services to the door step of rural households. The period in between 2006 to 2016 led many developments in the financial inclusion with FINO as business correspondent. The most considerable achievement is to change the mindset of rural people. It is because of the latest technologies and business models, the economic system is gradually undergoing a change and FINO is at the cusp of this paradigm shift. From a biometric smart card based technology player to a mobile first-based model, FINO would be transforming itself to meet and fulfill the financial services needs of its customers. This paper is a study on FINO Paytech Ltd. It tries to throw some light on the business model of FINO and its contribution towards financial inclusion.