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Author Profile

Name : Manish Khera
Nickname : Manish
Email : manish.khera@fino.co.in

Mr. Manish Khera is the CEO of Financial Information Network & Operations Ltd & is responsible for charting out the Company growth path and sound base. A self starting goal oriented individual, prior to joining FINO, Mr. Khera had 13 years of experience with ICICI Bank. His association with ICICI bank has exposed him to the entire gamut of client base from large corporate clients to the micro clients. In his career span he has gained experience in areas of corporate banking, government business and mass / rural banking. Mr. Khera is an engineer with a Master's degree in Business Administration and MPhil in Environment and Development from Cambridge University, U.K. specializing in the field of Climate Change Mr. Khera's exposure to the developmental issues commences from his training in the basic aspects during his education in Cambridge and got enhanced in his exposure as part of Government Banking Team at ICICI Bank where he understood the several developmental challenges that various government departments were trying to address through policy level and financial intervention. Mr. Khera has exposure to Micro-Banking since year 2003 across areas ranging from business to technology. Mr. Khera is very passionate about serving the underserved through the FINO Business Model which he thinks would change the approach that has been adopted to serve the under-served and bring about large penetration in customer base and operational efficiencies to the institutions focused on inclusive banking.

Banking at the Doorstep – The Business Correspondent (BC) Model

December 29th, 2009  Manish Khera 3 comments

manish-blogBusiness Correspondent Model is very interesting. Let me start from the basics of BC. Business Correspondent (BC) is an intermediary between the customer and the bank and is a full-service outlet that does not provide as expansive a financial offering as mainstream banks do, but sell all their products (saving accounts, deposits, loans, remittances and insurance products).

FINO has proudly led the approach of making BC services available in India. When FINO began its journey in 2006, its envisaged role was to provide financial inclusion technology to regional entities like MFIs/LFIs. We had thought that these entities would provide a new dimension to the Indian banking system by acting as BCs for regulated financial entities. Surprisingly this did not happen due to myriad reasons, consequent of which FINO transformed its role from a technology provider to a BC - a type of branchless banking wherein the agents appointed by the BCs themselves reach out to the customers. We provide “Banking at the Doorstep”. When we talk about innovation, the BC model seems to be an innovation in itself.

Today FINO is the largest BC in India with over 5,000 physical points Bandhus all across the country. We have a presence at a lot of places.

FINO @ Pan India

FINO realizes that Bandhus are a very critical part of the delivery chain and customer experience. Hence FINO invests aggressively in their training, insurance benefits and having a code of conduct for them to ensure lower risk and better customer experience.

An innovative technology highway has been laid out by FINO in this very short span of time which has improved the efficacy, coverage and reach of the BC model and financial inclusion in general, in the remotest nook and corners of India.

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