Fino analysis & strategy presentation 24.06.2010

FINO
An
Indicative Brand Strategy
Presentation
by
Carat Fresh Integrated
June ’10

2
Product
Financial Inclusion
A door-step delivery of various financial products/ brands to
rural India through use of technology & agent networks

3
SWOT
Strengths Weaknesses
•Largest acceptance among FI’s.
•In-house Technology R&D team
•ISO 9001:2000 certified centralized processing centre
• Ground level agent network
oWorks with several partners to reach the
remotest parts of the country
• Currently acts as an intermediary.
• Low on brand recognition and awareness.
Opportunities Threats
• More and more financial institutions wish to
reach out to the rural audiences.
• Government boost to financial inclusion.
• Opportunity to establish itself as a full fledged
finance organization in the future.
• Catering to sectors other than finance.
• Banks become self reliant in the future and
establish their own network.
• Low on brand awareness and recognition means
oThreat from the competitors
oFear of being substituted by a competitor
brand

4
Expectations from the Agency
• Category Definition
• Positioning Strategy
• Brand Identity for FINO
– Brand colors,
– Logo,
– Stationery,
– Website,
– And other necessary elements
• Communication Strategy
– Articulation of the brand positioning
(punch-line, tag-line)
– Determining the key messages
– Figuring out the optimum Media Plan
• ATL
• BTL
• Brand Health Monitoring
Mechanisms

Carat Fresh’s Approach
2
Parts

6
# 1
Understand

7
Brand strategies of companies dedicated to
‘Financial Inclusion’

8
# 2
Recommend

9
Category Name
(for FINO’s business model)
Direction for Brand Identity
Direction for Positioning

# 1
Understand
1. Analysis of FINO
– Brand Architecture
– Brand Identity
2. Analysis of companies dedicated
to ‘Financial Inclusion’
– Brand Architectures
– Brand Identities

Analysis of FINO
• Brand Architecture
• Brand Identity

FINO
Overview:
• About FINO
• Solutions offered
• Positioning
• Branding Financial Inclusion solutions
Analysis of:
• Category
• Brand Identity
– Brand Name
– Tagline
– Typeface used for Name
– Color(s) in the logo
– Shape(s) in the logo
– Sound of the brand name

13
About FINO
• FINO was founded on 13th July, 2006 with the
single objective of building technologies to
enable financial institutions (FIs) to serve the
under-served and the unbanked sector and
also to service the technology requirements of
entities engaged in servicing the bottom of
pyramid customers
• Current Reach
– No of Customers: 21 Banks, 20MFI, 4 Insurance, 9 Govt
Entities
– No of Location Served: Over 26000
– No of Transaction Point: 8330

14
FINO – Brand Architecture
Sub-brand strategy
FINO
FINO Tijori
FINO Saral
FINO Tatkal
FINO Parichay
FINO Sure
FINO Ravi
FINO Plus
FINO Mitra

15
FINO – Category
• Category
– Financial Inclusion

16
FINO – Brand Identity
• Brand Name
– FINO is an acronym for Financial
Information Network and
Operations Ltd
– FINO in Spanish represents
Dolphin which is a symbol of
intelligence, friendliness,
adaptability and networking

17
• Tagline
– Enabling Financial Inclusion
– Broadly defines the company’s
overall offering

18
• Typeface used
– The font is simple and in
capitals. There is no sharpness
anywhere and every alphabet is
smoothly rounded.

19
• Color(s) in the logo
– Reflects hope, optimism and
growth
– The color-scheme gives an
image of a ‘government
organization’

20
• Shape(s) in the logo
– The orange hemisphere looks
like a rising sun against the
yellow backdrop. Reflects
country-side (rural) and a
growing economy.

21
FINO – Sound
• Sound
– The Brand Name is simple and
easy to pronounce
– Very few syllables

Analysis of companies
dedicated to Financial
Inclusion
• Brand Identity

23
Types of Financial Inclusion Solutions
Organizations
promoting their own
products
Organizations offering
Intermediary services
Financial Inclusion
solutions
Technology
Technology
+
Agent Networks
Microfinance

Brands Analyzed
• Technology
• innoviti
• Technology+ Agent Networks
• A Little World
• M-NAIRA
• WIZZIT
• pagatech
• ekgaon
• Microfinance
• GRAMEEN BANK
• SKS
• unitus

innoviti
Overview:
• About Innoviti
• Solutions offered
• Positioning
Analysis of:
• Category
• Brand Identity
– Brand Name
– Tagline

26
About Innoviti
• Innoviti Embedded Solutions is a leading provider of
information and commerce transaction processing
solutions
• Industries catered to
– Financial institutions, consumer facing businesses and
government institutions.
• Innoviti provides transaction processing solutions in
the areas of
– secure identification,
– payment processing
– marketing technologies.
• Innoviti and its products have been the recipient of
several honors ,
– Design for Excellence Award for Vaayu,
– the Red Herring award as one of top 100 companies in Asia in
2006
– Wireless Innovation Contest award in 2007, Fullerton Technology
Award in 2008.

27
Solutions Offered
Financial Inclusion
solutions
Insurance solution
Microfinance solution
Payment Technology
solutions
Unipay
Wireless payment
solution
Driving database
marketing
Biometric
authentication
Secure Identification
solutions
Microfinance
Driving license
Pension disbursement
and monitoring
Attendance monitoring
Marketing technology
solutions
Program material/
currency design
Data gathering/
analysis/ warehousing
Direct/ mass
marketing
Coupons/
Merchandising
Customer/ retailer
interface
ROI monitoring

28
Positioning
Simplifying Communications
(says nothing about payment solutions and security of transactions.
Sounds more like a telecom company’s positioning)

29
Branding Financial Inclusion solutions
No separate brand name for its Financial Inclusion
solutions

30
innoviti – Brand Architecture
Branded House strategy
innoviti
Financial Inclusion
solutions
Payment technology
solutions
Secure Identification
solutions
Marketing technology
solutions

31
innoviti – Category
• Category
– Based on our understanding of the
offering through various sources, we
might be able to articulate the
category as
Secure Transaction Aids

32
innoviti – Brand Identity
• Brand Name
– Innoviti connotes ‘Innovation’
– Innovation in turn can be linked
primarily to ‘technology’

33
• Tag Line
– Reflects simplification of
technology but has no connect
with transactions and payment
solutions

34
• Typeface in the logo
– Is small which signifies
modern, new age
– Is simple yet bold

35
– Logo has shades of blue and yellow
– Blue conveys
• Importance and confidence
– Example: the blue power suit of the
corporate world
• Intelligence, stability
– Yellow
• Is bold and gathers attention
• Is the color of optimism and hope

36
– The ‘i’s with the dots can be
visualized as human beings, and
‘innoviti’ can be seen as
connecting-the-dots (an oft
used symbolism to reflect
communication technology)
– The underline reinforces the
brand name ‘innoviti’

37
innoviti – Sound
• Sound of the brand name
– Rhymes with
‘innovation’, ‘innovating’ and
hence gives it an impression of
an innovative organization.

38
Synopsis
Tech companies
A single company in the list to have only technology solutions
without the aid of on-ground team.
Follows a branded house strategy with no sub-brand name for
financial inclusion solutions.
Financial inclusion solution is only a part of the whole range of
transaction/payment technology solutions they provide.

A Little World
Overview:
• About ‘A Little World’
• Positioning
Analysis of:
• Category
• Brand Identity
– Brand Name
– Tagline

41
About ‘A Little World’
• ALW is the developer of ZERO, India’s first
domestic payment system with specific focus
on reaching out to masses with lowest
available communication infrastructure.
• ZERO creates the last mile operations network
in villages, under pre-defined service
agreements with Banks and front-ends the
delivery of full-featured transactional services
on behalf of Banks for Financial Inclusion on
the ground

42
Positioning
Touch a billion people through innovative technologies and alliances at the
bottom of the pyramid for delivering multiple financial services.
(A vision statement which also defines the mission of the organization.)

43
They have two brands operating in this space
‘Zero’ & ‘mZero’

44
A Little World – Brand Architecture
A Little World uses a ‘Sub-brand’
strategyA Little world
Financial
Inclusion
Zero
Mobile version of
Zero
mZero

45
A Little World – Category
• Category
– Technology Services

46
A Little World – Brand Identity
• Brand Name
– The name ‘A Little World’ connotes
• A world that is connected through
technology
• A world that is coming closer
– However it also connotes different
meanings like
• Little world of kids. It sounds more like
the name of a playgroup.
• A small family living a content life

47
• Typeface used
• Can’t read much in the use of this
typeface

48
– The power of red shows the
power of finance, emotions and
the power in relationships.
– Relationship is the base of
networking and the colour
justifies the brand’s proposition.

49
– NA

50
A Little World – Sound
– Great sounding name
– Easy to remember

E-SOFT solutions
Overview:
• About ‘E-soft solutions’
Analysis of:
• About M-NAIRA
• Positioning
• Category
• Brand Identity
– Brand Name
– Tagline

53
About E-SOFT
• E-Soft Solutions Limited is a privately held
Nigerian software development company
incoporated with Coporate Affair commission
with RC:779190
• It provides innovative, cost-effective and
compelling web and mobile based software
products and services

54
M-NAIRA is the sub-brand used for Financial Inclusion
solutions

55
E-SOFT solutions limited – Brand Architecture
Sub-brand strategyE-SOFT
M-NAIRA
Fincore soft
Mycollegeweb
Hospital switch

56
About M-NAIRA
• M-NAIRA is a proven innovative Mobile
Money, Revenue Management and payments
solution
• It converts any mobile phone to a micro bank
for the un-banked based on scratch cards and
enabled by any SMS enabled mobile phone

57
Positioning
Mobile Money Solution.
Converts any mobile phone to a micro bank for the unbanked.
(links the brand positioning to the product offering)

58
M-NAIRA – Category
• Category
– Mobile banking solutions

59
M-NAIRA – Brand Identity
• Brand Name
– The name seems to be the
combination of M & Naira
– M represents ‘mobile’ & Naira is
the basic unit of money in
Nigeria

60
• Tag Line
– The tag line ‘MOBILE MONEY
SOLUTION’ captures the
company offering.

61
– The font of M-NAIRA reminds
of the origin/ethnicity of the
service

62
– Green color in the background is
representative of Islamic
population in Nigeria
– The combination of white and
green is seen as ‘sacred’ across
the Islamic world

63
– The map of Nigeria in the
background represents the
reach & local nature of the
brand

64
M-NAIRA – Sound
– Easy to pronounce

WIZZIT
Overview:
• About ‘WIZZIT’
• Positioning
Analysis of:
• Category
• Brand Identity
– Brand Name
– Tagline

67
About WIZZIT
• Mobile/ cell phone banking
technology
• Payment mechanism to the
un-banked or under-banked
• Empowering people

68
Positioning
Live.Life.Anywhere. With Wizzit you have your bank in your pocket.
(talks about product benefit and adds an emotional appeal to the offering)

69
No separate brand name for its Financial Inclusion
solutions

70
WIZZIT– Brand Architecture
WIZZIT
Salaries and wages
Affordable banking
Cell-phone banking
Debit/stop orders

71
WIZZIT – Category
• Category
– Mobile banking

72
WIZZIT – Brand Identity
• Brand Name
– It’s a combination of ‘WIZZ’ and
‘IT’ which could mean ‘a wizard
in IT’.
– ‘Z’ is new age and also has a
connotation of ‘special’, ‘high-
end’.

73
• Tag Line
– My bank in my pocket
– Denotes simple & exhaustive
nature of business

74
– All capital letters signifies
importance & seriousness
– The tag line is in small letters
• Signifies simplicity achieved
through mobile banking.

75
– Black, red and white are attention
grabbing colors and are seemingly
used for the same purposes.

76
– Red stripes represent
• The importance and the speed of
the service
• The simplistic form of mobile
vibes/ signals and hence can be
linked to mobile banking.

77
WIZZIT – Sound
– Very simple to pronounce
– Denotes speed through
pronunciation (the use of ‘zz’)

pagatech
Overview:
• About ‘pagatech’
• Positioning
Analysis of:
• Category
• Brand Identity
– Brand Name
– Tagline

80
About pagatech
• Pagatech was founded in early 2009 with a
vision to enable a cashless society and bank the
unbanked in Africa
• Paga, which is the first product of Pagatech, is
an innovative, open, secure, and interoperable
mobile payments platform that allows any
person who has a mobile phone to transact
electronically
• Pagatech is building the network of banks
(including micro-finance institutions), mobile
operators, and trusted agent network required
for success

81
Positioning
Your cash, anywhere, anytime.
(talks about self reliance and the convenience of using pagatech services)

82
pagatech– Brand Architecture
Branded House strategypagatech
Send Cash
Bill Pay
Buy Airtime

83
pagatech – Category
• Category
– Mobile Banking

84
pagatech – Brand Identity
• Brand Name
– The origin of word ‘paga’ is in
Hebrew which means ‘to meet’
and ‘tech’ represents
‘technology’
– Hence ‘pagatech’ signifies
networking by means of
technology

85
• Tagline
– NA

86
• Typeface used
– Typeface used is small letters
which is representative of ‘new
age’
– Bold font of ‘paga’ puts more
emphasis on networking over
technology.

87
– The black color of ‘paga’ and
gray color of ‘tech’ indicates the
importance of networking over
technology
– The orange color of the circles
indicates warmth and energy.

88
– Circles of the different shapes
indicate the networking at
different levels
– The dots form a full circle which
is representative of ‘efficient
use of resources’.

89
pagatech – Sound
• Sound
– Traditional and ‘new-age’ words
forming one word bring out the
essence of the offering
– Easy to pronounce with few
syllables

ekgaon
Overview:
• About ‘ekgaon’
• Positioning
Analysis of:
• Category
• Brand Identity
– Brand Name
– Tagline

92
About ekgaon
• ekgaon offers a range of technology solutions
for enabling financial inclusion for banks
• ekgaon is focused on creating a global village
where freedom, equality, respect for
environment and culture, coexists with the
human desire to learn, grow and attain
spirituality in harmony with nature

93
Positioning
One village, one world
(talks about uniting. Also connotes the huge potential that lies in one village.)

94
Ekgaon – Brand Architecture
ekgaon
System
Analysis
System
Development
User centric
Design
Localization
Training &
Support
Strategic
Consulting
Event
management

95
Ekgaon – Category
• Category
– Not sure.

96
Ekgaon – Brand Identity
• Brand Name
– The origin of the brand name is
in Hindi language which means
‘one village’
– Indicates the place & the nature
of the business

97
• Tagline
– It signifies the company vision of
creating a global village.
– It can also mean creating a
world within a single village.

98
• Typeface used
– Small letters reflects new-age
and cutting-edge business that
the company is into

99
– The green color of the letter ‘gaon’
signifies the basis of the rural economy
which is agriculture
– Dark black color of the letter ‘ek’
emphasizes the mission of the
company.
– It may also have been used to separate
‘ek’ from ‘gaon’ to facilitate the ease
of pronunciation.

100
ekgaon– Brand Identity
– The Brand Name is mentioned
in small case with no significant
shapes

101
ekgaon– Sound
• Sound
– Difficult to pronounce unless
one understands the meaning of
the term ‘ekgaon’

102
Synopsis
(tech+ agent network) companies
The tech+agent network companies have adopted either a
branded house of a sub-brand strategy
The brand names connote
1. A small world formed as a result of technology
2. Convenience of mobile banking
Networking through technology

GRAMEEN BANK
Overview:
• About ‘GRAMEEN BANK’
• Positioning
Analysis of:
• Category
• Brand Identity
– Brand Name
– Tagline

105
About GRAMEEN BANK
• Grameen Bank (GB) follows non conventional
banking practice by removing the need for
collateral and creating a banking system based
on mutual trust, accountability, participation
and creativity.
• Industry Credentials:
– SWITZERLAND : Aga Khan Award For
Architecture : 1989
– BELGIUM : King Baudouin International
Development Prize : 1993
– BANGLADESH : Independence Day Award : 1994
– MALAYSIA : Tun Abdul Razak Award : 1994
And many more

106
Positioning
Banking for the poor
(clearly links the brand to the rural community.)

107
GRAMEEN BANK – Brand Architecture
Branded House strategyGrameen Bank
Grameen Trust
Grameen Fund
Grameen Fisheries
Grameen Telecom
Grameen Cybernet
Grameen shakti
Grameen Phone
Grameen Education
Grameen Knit wear
Grameen solutions
Grameen byabosa Bikash

108
GRAMEEN BANK – Category
• Category
– Microfinance

109
GRAMEEN BANK – Brand Identity
• Brand Name
– Grameen means "rural" or
"village" in Bangla language
making the brand name
resonate clearly in a poor man’s
ears

110
• Tag Line
– Banking for the poor
– Reflects the services clearly

111
• Typeface used
– Capital letters give it the
required seriousness
– Forward slant in the tagline
reflects confidence and
positivity, progress and growth

112
• Color(s) of the logo
– House in RED signifies the
colour of BRICKS
– Green is the colour of growth
and symbolizes the basis of rural
economy & prosperity
– Alternatively , the colors reflect
Bangladesh

113
GRAMEEN BANK– Brand Identity
– The house in the logo can be
visualized as an upward arrow
which again emphasizes on the
prosperity aspect.
– The house also symbolizes small
scale enterprises

114
GRAMEEN BANK – Sound
• Sound
– The word Grameen is easy to
pronounce and since it is in the
regional language, it elicits a
feeling of belonging

SKS MICROFINANCE
Overview:
• About ‘SKS MICROFINANCE’
• Positioning
Analysis of:
• Category
• Brand Identity
– Brand Name
– Tagline

117
About SKS
• SKS distributes small loans to poor women so
they can start and expand simple businesses
and increase their income
• SKS uses the group lending model where poor
women guarantee each other loans. Borrowers
undergo financial literacy training and must
pass a test before they are allowed to take out
loans.
• Re-payment rates on collateral-free loans are
more than 99% because of this systematic
process

118
Positioning
Providing microfinance to underserved section of society.
(clearly links the brand to the rural community.)

119
SKS Microfinance – Brand Architecture
SKS uses a sub-brand strategy.SKS Microfinance
Aarambha
Vriddhi
Raksha
Life Insurance
loans
Sangam Store
loans
Housing Loans

120
SKS – Category
• Category
– Microfinance

121
SKS – Brand Identity
• Brand Name
– SKS stands for Swayam Krishi
Sangam, which in Hindi means
”self-cultivation society”.

122
• Typeface
– The typeface is bold.
Strengthens the ambitious
nature of the SKS’s business.

123
• Color(s) of the logo
– Sky-blue reflects the all-inclusive
nature of SKS’s financial
products and the positive
impact on all the members
– The sombre grey signifies the
seriousness of SKS’s intent and
commitment to fulfil the needs
of customers and stakeholders

124
Shape(s) in the logo
– There are five women sitting in
a circle which is core to the
business as they offer loans only
to women
– Five women in a group also
signifies the group-lending
model that SKS uses.
– The grey semi-circle shows a
cover of protection on them

125
• Sound
– Three syllables with alliteration

unitus
Overview:
• About Unitus
• Positioning
Analysis of:
• Category
• Brand Identity
– Brand Name
– Tagline

128
About Unitus
• unitus, an international non-profit
organization, fights global poverty by
accelerating the growth of microfinance—small
loans and other financial tools for self-
empowerment—where it is needed most.
• unitus works with microfinance partners and
other emerging enterprises in India, Southeast
Asia, East Africa, South America, and Mexico
• unitus’s microcredit loan is supported by a
range of client-supporting products and
services such as business skills training, savings
programs, and basic insurance plans.

129
Positioning
Innovative solutions to global poverty
(does not talk about a particular class of people. i.e ‘poor’. Rather talks of
addressing the issue of poverty through innovative solutions.)

130
Unitus-Category
• Category
– Microfinance

131
unitus– Brand Architecture
Branded house strategyunitus
unitus capital
unitus equity
fund

132
unitus– Brand Identity
• Brand Name
– Derived from two words ‘unity’
and ‘us’, thus giving it a meaning
of ‘togetherness’.
– The name gives a feeling of
security and protection.

133
• Tag Line
– Showcases Unitus as an
organization with multiple
offerings

134
– Bold fonts reflect solidarity
– The edge of ‘t’ is cut perfectly to
give a sharp slant that breaks
out of the monotony

135
unitus – Brand Identity
– A small green dot on top of the letter
‘I’ signifies prosperity and can also
represent the rural economy.
– The ‘i’ in unitus gives it a human touch
as the shape of ‘i’ is representative of
the shape of a human being.

136
unitus – Brand Identity
• Sound
– The pronunciation is simple and gives
the feeling of Unite Us in it

137
Synopsis
micro-finance companies
Most companies analyzed in this category follow a Branded
House strategy.
The name, logo or the tagline includes the term ‘poor’, ‘village’
to form a connect with the rural population

# 2
Recommend
• Direction for Category
Naming
• Positioning

# 2
Recommend
• Direction for category
Naming
• Positioning

140
Category Name: why is it important?
Finance
Financial Inclusion
SHGs Mobile Banking Microfinance
How do we name the
category for FINO?
Investment
companies
Insurance
Companies
Banks

When we need to buy something to wash hands, we ask for either a
hand wash or a soap
When we wish to watch a movie on a big screen, we either go to a
single screen or a multiplex
What would we say when we wish to avail of services like FINO?

Currently when the industry wishes to speak of Financial Inclusion, it
approaches organizations like Banks, Insurance companies or entities
like Grameen Bank
The industry does not approach FINO since there is no recognition of
the role that this category plays in Financial Inclusion
The recognition of the role comes with identifying the category and
defining it appropriately for all stakeholders
Once this is done, the industry will start recognizing FINO as a major
contributor in the umbrella category of Finance

Category Name: Based on FINO’s business model
Do we have a full grasp of the significance of FINO’s business model?
So, how do we classify FINO into a category?

144
Banks DSA End Consumer
Foreign
Universities
Educational
Consultants
Indian Students
Insurance
Companies
Insurance Agents End Consumer
Hotels Travel Agents End Consumer
For example

145
Financial
Institutions
FINO End Consumer
How does FINO categorize itself as part of the entire
value chain and as part of people’s lives?

146
Financial
Institutions
FINO End Consumer
FINO acts as a channel between the Financial
Institutions and the end consumer

147
Hence, using the term channel in the context of FINO, we can get the
corresponding category name

Category Name: Recommendations
148
Alternate Banking and Finance Channel
Option 1

Category Name: Recommendations
149
Financial Inclusion Channel
Option 2

152
Positioning for FINO – Key Considerations
First & the largest player providing such service in the
Indian market
Largest customer base in the country
Largest network of agents to reach out to the rural
audience.
Option 1

153
Positioning for FINO
India’s Largest Alternate Banking and
Finance Channel
India’s Largest Financial Inclusion
Channel
OR

154
Positioning for FINO – Key Considerations
FINO opens up a multitude of financial opportunities for
the rural consumer
These opportunities are changing the lives of the rural
community and uplifting them on the financial front
Option 2

155
Positioning for FINO
Changing Lives of Millions

156
Further Work
• Category Definition
• Positioning Strategy
• Visual Identity for FINO
– Brand colors,
– Logo,
– Stationery,
– Website,
– And other necessary elements
• Brand Manual
• Communication Strategy
– Determining the key messages
– Figuring out the optimum Media Plan
• ATL
• BTL
• Brand Health Monitoring
Mechanisms

Investment
Rs15 lacs
Service Tax extra
Duration
45 days

Fino analysis & strategy presentation 24.06.2010

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