FindiBANKIT focuses on strengthening financial inclusion through the expansion of its retailer network and increasing its. presence across rural and semi-urban India. Amit Nigam, Executive Director, CEO, FindiBANKIT chats exclusively with Rajneesh De, Group Editor, APAC Media & CXO Media on how FindiBANKIT’s entire architecture is designed for the entire Bharat, and not only for metro cities.
How is FindiBANKIT strengthening financial inclusion through its assisted banking model?
FindiBANKIT’s assisted banking model operates on a straightforward premise, i.e., bring banking to where the people are, not the other way around. The company’s mission is to leverage its phygital network and technology to deliver financial services to the last mile.
What makes this model distinct is the scale it has achieved: over 1,75,000 outlets across 36 states and UTs, covering 12,000+ Indian PIN codes, serving 2.6 million monthly customer walk-ins, and clocking 37.2 million+ annual transactions. Through trained local retailers acting as banking correspondents, FindiBANKIT delivers services such as AePS-based cash withdrawals, domestic money transfers, and Aadhaar Pay, without requiring customers to step inside a formal bank branch.
The company now also offers White Label ATM deployments and Banking Correspondent services in partnership with various banks, deepening the assisted model’s reach into India’s most underserved geographies
What is the business model of FindiBANKIT, and how does it empower local retailers?
FindiBANKIT operates on a channel-partner-led model, where local retailers like kirana shops, mobile recharge stores, and stationery outlets are onboarded as banking agents who earn real-time commissions for every transaction they facilitate.
The company offers immediate onboarding, web and app-based service transactions, and real-time commission payouts. Retailers can earn from a wide range of services, including money transfers, AePS, bill payments, insurance, travel bookings, MicroATM, and PAN card services. The Findi ATM Franchise programme allows retailers to earn up to ₹25,000 – ₹50,000 per month by hosting a White Label ATM on their premises.
For those wanting a more branded setup, the FindiATM Centre converts a shop into a full digital banking hub with in-store branding. The company’s income calculator and tiered distributor-retailer-MDS structure ensures that partners at every level have a defined, scalable earning opportunity, making entrepreneurship accessible with minimal technical skill.
How is the company expanding its phygital footprint across India?
FindiBANKIT’s phygital expansion story is one of the most aggressive in India’s fintech space. From just 2,000+ agent outlets in 2017, the network grew to 1.29 lakh+ agent outlets by 2024, a journey-built service by service — DMT in 2017, AePS in 2018, MicroATM in 2019, CMS in 2020, Aadhaar Pay in 2021, and Insurance in 2023. Following its INR 160 crore acquisition by Findi Ltd., the combined entity now supports over 1.75 lakh merchants across India, extending reach to 12,000+ PIN codes.
The strategic move brings together BANKIT’s retail agent network and FINDI’s infrastructure, including its White Label ATM business acquired from Tata Communications, creating a unified physical-digital presence that spans banking correspondent touchpoints, White Label ATMs, and branded FindiATM Centres under one ecosystem.
What key financial services are driving adoption among underserved users?
Among FindiBANKIT’s service stack, Domestic Money Transfer and AePS remain the two highest-volume adoption drivers. The money transfer service enables instant transfers to 400+ banks using IMPS and NEFT technology, catering heavily to migrant workers who remit earnings back home.
AePS enables cash withdrawal, balance inquiry, and mini statements through biometric authentication on Aadhaar-linked accounts, removing the need for debit cards or PIN-based transactions, critical for first-time banking users. MicroATM further extends cash access where ATMs are absent.
What are FindiBANKIT’s growth and expansion plans for the coming year?
FindiBANKIT’s growth and expansion strategy for the coming year is focused on strengthening financial inclusion through the expansion of our retailer network and increasing our presence across rural and semi-urban India. We are continuously enhancing our assisted digital banking ecosystem by offering a wider range of services, including AEPS, domestic money transfer, bill payments, insurance, travel ticket bookings, credit cards, and White Label ATM solutions.
In addition, we are preparing to introduce several new offerings in the B2C segment aimed at delivering greater convenience, accessibility, and value to end customers. Alongside this, we remain committed to investing in technology, strategic partnerships, and scalable infrastructure to drive sustainable growth and deliver a seamless financial services experience across Bharat.
How is the platform enhancing accessibility in Tier 2 and Tier 3 markets?
FindiBANKIT’s entire architecture is designed for the entire Bharat, not only for metro cities. With presence across 12,000+ PIN codes spanning 36 states and UTs, the platform reaches districts and talukas where bank branches and ATMs remain sparse. The retailer-as-agent model means that a customer in a small town can access cash withdrawal, money transfer, bill payments, and insurance from the same neighbourhood shop they already trust.
FindiBANKIT firmly believes that every corner shop and merchant in their network is now a potential banking hub. The FindiATM Centre concept takes this further by converting local shops into branded, multi-service digital banking outlets. Services are accessible via both web and app platforms, ensuring that even merchants with basic smartphones and internet connection can operate seamlessly.
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