The first 5 years of the bank's journey since inception in 2017 (Fino1.0) were focused on creating physical infrastructure. Today, it has one of the largest financial services distribution networks in the country. Major Ashish Ahuja, COO, updates: "We have around 1.4 million digitally enabled points covering 94% of the districts, predominantly in rural areas. These points do over 360 million transactions annually, providing paperless, Aadhaar-based eKYC / video KYC and assisted digital services. As customer aspirations grow, our digital initiatives complement Fino's extensive phygital network in providing customers' choice of platform to access banking & transact."
D2C STRATEGY
For Fino Bank, fully digital means engaging with a new set of digitally savvy and aspirational customers, the young millennials. For this, in addition to expanding its phygital network, the bank is also strengthening its direct-to-customer (D2C) channel, mobile banking app FinoPay'. The most significant initiative in Fino2.0 journey is the digital savings account service launched in December 2022, which is getting encouraging response. Fino's D2C strategy aims to acquire tech savvy young customers, provide personalized services and cross-sell to make Fino Bank a part of their everyday banking. FinoPay app offers money transfer, bill payments, partner offerings such as insurance, digital gold, loans and sweep account facility.
Denne historien er fra June 2023-utgaven av Banking Frontiers.
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Denne historien er fra June 2023-utgaven av Banking Frontiers.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Swedbank leverages data to the hilt
Sweden's Swedbank takes innovation to a different level by collaborating with other competing banks:
Digitization is for customer satisfaction, says Argenta Bank
Belgium's Argenta Bank has designed its digitization efforts to enhance customer experience:
Speed, Safety, Compliance
Brijesh Samantaray, Co-founder, Propelld shares the current trends in the education loans how the company is leveraging technology:
Unique methods in fraud perpetration
When we look at some of the very serious frauds that had taken place in the financial realm, it is evident that the perpetrators are somewhat ingenious:
NBFCs: Elevating Organizational IQ
What is more important than hiring smart people is raising organizational IQ. This topic was discussed in depth in a panel discussion at NBFC's Tomorrow conclave organized by Banking Frontiers. Edited excerpts:
Trustful Transformation
Transformation is no longer only about growth & efficiency. It involves aspects like compliance, security and explainability that are impacting NBFCs. These issues are explored in this panel at NBFC's Tomorrow:
CEO Panel: Connecting Traditional Wisdom with Modern Intelligence
Banking Frontiers organized its annual NBFC Conclave titled NBFC's Tomorrow in August 2024 at Mumbai. Highlights of the first panel discussion:
NBFCs EXPERIENTIAL EVOLUTION, TRUSTWORTHY TRANSFORMATION
Banking Frontiers organized NBFC's Tomorrow, its annual NBFC Conclave, in Mumbai on August 21. The program comprised panel discussions on 5 upcoming opportunities for the NBFC sector, along with presentations, fireside chats and a keynote address. Edited excerpts from the conclave:
Smart ATMs - an indication of a resurgence
Smart ATMs can be the future way of how one may be interacting with a bank and doing transactions:
Personalization scores with HNWI & YP
Ghulam Haidar Rasooli, Chief Financial Officer at Afghanistan based Ghazanfar Bank, reveals the impact of personalization and future roadmap: