Our Story – a decade long journey
Assisted Banking Services to the Un(der)served Poor
Assisted Banking Services to the Un(der)served Poor
Assisted Banking Services to the Un(der)served Poor
FIA is the bridge between B2B and B2C for financial services
BUSINESS-TO-BUSINESS
Partnering with financial institutions and
governments to set up banking outlets in remote areas. The banking outlets are manned by micro-entrepreneurs from the local community.
BUSINESS-TO-CONSUMER
Providing a marketplace of sachet financial services and digital payments to individuals and micro-enterprises
BUSINESS-TO-BUSINESS Partnering with financial institutions and governments to set up banking outlets in remote areas. The banking outlets are manned by micro-entrepreneurs from the local community.
BUSINESS-TO-CONSUMER
Providing a marketplace of sachet financial services and digital payments to individuals and micro-enterprises
We take pride in our Impact
FIA has set up a massive banking network, one of the largest outreaches to remote areas and digitizes $10Million in cash daily. Banking the unbanked leads to financial empowerment, financial security, savings for the future and increased social dignity.
Infrastructure
- 25,000 Banking Centers
- 18% Women Banking Agents
- 25+ Banks
- 20+ Financial Institutions
- 7 Rural Livelihood Mission
- 40+ FINVESTA Products
- 2000+ Debt Recovery Agents
- 250+ Community Based Orgs
Impact
- 45M+ Customers
- 2,90,000 Daily Footfalls
- $3B Cash Digitized Annually
- 2M+ Social Security Enrolment
- $3B in Deposits
Infrastructure
- 25,000 Banking Centers
- 18% Women Banking Agents
- 25+ Banks
- 20+ Financial Institutions
- 7 Rural Livelihood Mission
- 40+ FINVESTA Products
- 2000+ Debt Recovery Agents
- 250+ Community Based Orgs
Impact
- 45M+ Customers
- 2,90,000 Daily Footfalls
- $3B Cash Digitized Annually
- 2M+ Social Security Enrolment
- $3B in Deposits
Our presence
Network Outreach
*Bangladesh: Launching Soon
Impact of Covid-19 –
Building a future-ready Digital Ecosystem
Over 1 billion Indians now have bank accounts. However, India continues to remain a cash-intensive economy. The poor still have inadequate access to formal credit, investment and insurance products. They mainly depend on household income or savings to fund emergency expenses with zero risk management strategies.
The virus outbreak has accelerated the adoption of contactless digital financial services. FIA has leveraged on this opportunity by building one of the largest digital banking mobile platform – FINVESTA@AI. A
FINTAP@AI. A is an AI powered financial service platform that aggregates, designs, and delivers sachet financial products to low-income customers. The easy-to-use app designed for low-literacy settings can be downloaded by agents and/or directly by customers to access our services: savings accounts; cash withdrawals/deposits; fund transfers; remittances; investments, insurance (vehicle, livestock, life), medical insurance (including COVID-19 coverage); working capital loans; government payments bill payments, loan collections, recoveries and doorstep cash delivery.
FIA centers continued supporting the cash-intensive economy through the Covid-19 crises. FIA banked more than 2 million people (mostly women), disseminated vital covid information to 30,000+ villages and distributed $20 million in covid cash relief to individuals.
An inclusive Journey towards financially empowered individuals
FIA Global: From managing the network to owning the end customer
FIA Agents: From financial transaction processors to Trusted financial advisors
FIA Customers: From assisted transactions to self-reliant financial access and management
Economic Sustainability –
- FIA is one of the few impacts fintechs in India which has been profitable since inception. Grants from World Bank and Millennium Alliance enabled financial stability and scaling services during the early stages of the organisation’s growth.
- Revenue source includes transaction fees from banking partners for both financial and non-financial transactions and one-time platform fee from banking agents.
- FIA centers are located in underserved areas which gives them near exclusivity. This has resulted in consistent footfalls at the centers and steady, recurring revenue.
- FIA’s strong distribution network and growing base of customers enables FIA to attract and retain financial service providers ensuring growing revenues.
- The potential for monetizing the digital banking platform by charging a nominal recurring fee for its use from last mile customers will be one of our biggest differentiators in the future.
- FIA is one of the few impacts fintechs in India which has been profitable since inception. Grants from World Bank and Millennium Alliance enabled financial stability and scaling services during the early stages of the organisation’s growth.
- Revenue source includes transaction fees from banking partners for both financial and non-financial transactions and one-time platform fee from banking agents.
- FIA centers are located in underserved areas which gives them near exclusivity. This has resulted in consistent footfalls at the centers and steady, recurring revenue.
- FIA’s strong distribution network and growing base of customers enables FIA to attract and retain financial service providers ensuring growing revenues.
- The potential for monetizing the digital banking platform by charging a nominal recurring fee for its use from last mile customers will be one of our biggest differentiators in the future.
Goals 2025
- 1Million jobs through our lending solution
- $10 billion in savings leading to redistribution of wealth in the society
- 100 million individuals banked leading to financial empowerment
