Advertisment launches PaisaPower Network

DQW Bureau
New Update has launched PaisaPower Network, an integrated, multiproduct, web-enabled, vendor-neutral distribution company for financial products and services.


Through PaisaPower Network, it endeavors to gain strategic control over the financial service distribution, considered a success factor in the financial services industry. The expansion helps PaisaPower to plan and take up distribution of Insurance products and services-an industry that is opening up offering unprecedented opportunities to the infomediaries.

PaisaPower will be a blend of a captive team and franchisees. The team will be located across the 5 cities namely, Chennai, Bangalore, Hyderabad, Pune, Mumbai and Delhi. PaisaPower already has a 60-member captive team, a Network of 15 franchisees and 1300 investment sub-brokers. The dotcom will leverage on its relationship with multiple vendors to provide opportunities for the supply chain to cross-sell a variety of financial products and services.

Its franchisee Network will operate in 20 upcountry locations in Southern India and Maharashtra within the next 45 days. The Company has already identified franchisees in most of these locations and is in advanced stages of appointing and inducting them. In the second phase, franchisees in additional 15 locations would be appointed and this process will be completed by 31st March 2001.

This shall link franchisees, institutions and its own team through the Extranet (URL:, a common web-enabled platform. The partners of the supply chain can reach out effectively to a large consumer base. Centralized Operations Team of the Network (COPS) will process all transactions and then forward these to the institutions. This benefits all players in the supply chain besides saving time on transaction processing.


The Extranet will be an interactive forum and not a mere information source. The supply chain will benefit from a technology-enabled back-end centralized operation. For example, it can track status on consumer applications, work out repayment schedules (for asset products), order online for application etc.

Speaking on the launch, PM Austin, CEO, said "PaisaPower Network is the most efficient way of reaching out to the consumers who are not yet online, through web-enabled intermediaries. This insulates from the risks of low Internet penetration and also relatively slow adaptation of the Net. At the same time, leverages on the Internet-based technologies and captures all the advantages of doing business online." is India's Internet-based, vendor neutral financial service infomediary. It has over 50 institutional relationships offering a wide range of financial products and services. The hybrid online direct and indirect distribution business model allows the company to address a large market by including those finance consumers who are not yet Internet users, while still capturing the efficiencies offered by the Net on the supply side clearly creating a huge entry barrier for other players.