Findi Completes Successful Pilot of BC Max Centres
Released
Released
Announcement PDF
ASX Release 30 July 2025
Findi Completes Successful Pilot of BC Max
Centres with Central Bank of India
Commences National Rollout with Initial Expansion to 76 New Locations
Key Highlights
Successful pilot completed for BC Max Centre model with Central Bank of India
National rollout commenced with initial 76 locations: targeting several thousand over next 2
years
Total Minimum Guaranteed Revenue of approx. A$3.13 million over 3 years; forecast EBITDA of
approx. A$1.45 million over 3 years
2.85-year payback; IRR of > 32% over 6 years
Significant upside and expansion potential with Central Bank of India and other major Indian
banks
Digital payments and financial services provider Findi Limited (ASX: FND) (Findi or the Company) is
pleased to announce the successful completion of the pilot program for its co-branded ‘BC Max’ Centres with
Central Bank of India (CBI), marking a significant milestone in the Company’s strategy to expand its digital
and branch-like banking presence across India.
Following the completion of the initial 25-site pilot, Findi and CBI will now proceed with a national rollout of
BC Max Centres, beginning with a further 76 locations, with the ambition of establishing a further 500
locations nationwide over the next two years.
Under the agreement, the rollout of the additional 76 BC Max Centres is expected to generate total Minimum
Guaranteed Revenue (MGR) of approximately A$3.13 million and EBITDA of A$1.45 million over three
years. The program is forecast to have a payback period of 2.85 years and an IRR exceeding 32% over six
years. Additional upside exists when monthly transaction commissions exceed MGR thresholds.
Findi Executive Chairman Mr Nicholas Smedley said: “The successful completion of our pilot with Central
Bank of India is a major step toward our aspiration of becoming a payments bank, establishing a national
banking footprint and enhancing our digital financial services capability.
ASX Release 30 July 2025
“With the BC Max Centres, we’re delivering modern, integrated financial infrastructure where it’s needed
most, offering customers the convenience of a one-stop digital banking hub.
“This expansion supports our broader strategy of scaling FindiPay, enhancing transaction volumes and
creating a sustainable, high-margin revenue model that supports long-term value creation.”
Each BC Max Centre integrates a full suite of FindiPay merchant services with CBI banking products, staffed
by CBI personnel and supported by Findi-owned ATMs. These Centres are designed to offer an extendedhours, branch-like customer experience, significantly improving accessibility to banking services in both
urban and under-served rural and regional areas.
Findi will continue to generate minimum assured recurring revenue from each Centre and will earn servicebased fees across CBI’s full range of banking offerings at each site.
Future Opportunities
While the current rollout is being conducted in partnership with Central Bank of India, significant
opportunities exists to roll out the BC Max Centre model and the FindiPay platform with other leading banks
across India. These potential partnerships represent a compelling pathway for continued expansion and
diversification within the Indian banking ecosystem.
Findi continues to benefit from its extensive phygital (physical + digital) footprint across India, operating one
of the country’s largest ATM and merchant service networks, and remains committed to leveraging
technology and partnerships to accelerate financial inclusion.
Authorised for release by the Board of Findi Limited.
Investor Enquires
Nicholas Smedley
Executive Chairman
+61 447 074 160
nsmedley@findi.co
Media Enquiries
John Hurst
Tribune Partners
+61 418 708 663
jhurst@tribunepartners.com.au
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