FINO Tijori: Microfinance Banking Products for Banks & MFIs by FINO


Overview
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FINO Tijori
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FINO Saral
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FINO Tatkaal
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FINO Parichay
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Sayana Ravi
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FINO Sure
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FINO Plus
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FINO Mitra
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Platform Technologies

FINO Tijori

FINO Tijori is a Biometric Smart Card based no frills saving account product designed specifically for the Banks / MFIs in the Microfinance space. The Card becomes a combination of passbook and ATM card, and provides features like Balance Inquiry, Deposit and withdrawal of Cash. FINO Tijori is the basic building block which the Bank / MFI can use to offer other financial products like loans, remittance, insurance etc. to their customers by issuing multi-application smart card. It is easy to access and is user friendly therefore meant for anyone and everyone.

Scope

Client Enrollment stations and application
Opening of Savings Account
Issuance of Personalized Biometric Card
Network of POT terminals
DeDuplication verification facility
CBS Facility to Banks (Optional)
Agent Management and Cash flow Management services through nation-wide network
Integration with Bank core systems

Overview

FINO Tijori is designed for Banks / MFI’s seeking to offer microfinance banking products to a customer segment, which is otherwise inaccessible, in a cost-effective manner. This access is enabled by FINO’s established infrastructure and proven solution of biometric authentication based Transaction processing system.

It offers complete end-to-end banking services for the customer in the most remote areas. POS application is one of the major components of this solution that works with biometric enabled smart cards to carry out transactions. FINO is further strengthened by a network of agents called “FINO Bandhu” and MFI partners with their respective Agents. These agents go out to the field and transact with cardholders helping them access the products better. By using FINO infrastructure, Banks are able to tap on an established last-mile network.

Functions and Features

Cash Deposit
Deposit through transfer
Cash withdrawal
View account detail
Mini statement
Highly secured with fingerprints, 3DES encryption, Photo printed on the card, amenable to audit; and follows widely accepted open standards to allow interoperability among the different systems adopted by different banks
Authentication for customers: Card level, Customer level, Application level
Hotlisting of Lost Cards

Why implement FINO Tijori?

To reach out to the under-/unbanked population, providing them with a broad range of financial products and services at a lower cost.
To provide a multipurpose technology solution that can manage not only Savings, but loans, insurance, remittances and derivative products.
To provide better processes and automated systems to the Bank / MFIs so that they can overcome the constraints of manual processes and records which cannot be scaled-up once they hit certain critical mass.
To drastically reduced transactional, operational and card acceptance infrastructure cost (last-mile-delivery channel).
To capture, manage, and analyze client and transaction data for local financial service providers.

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