Overhead expenses for manual reconciliation eliminated


Hero FinCorp is one of India’s leading credit companies. They are present at approximately 2000 retail financing touch-points across India. Additionally, they have partnered with over 2000 corporate clients. 

They aim to continuously expand their offerings and geographic presence, whilst offering better financial services to customers.


One of the largest challenges in managing the treasury size as large as of Hero Fincorp’s is to maintain the Net Present Value (NPV) of the money. They were losing income from rate of interest for 4-5 days on their big portfolio of approximately USD 1 Billion. This was because of their complex collection structure and collection agents depositing money in T+5 days.

The following challenges were faced by Hero FinCorp:

  • Treasury – It was difficult to maintain the NPV of funds and secure income from the interest earned on the deposits.
  • Cash Deposit – Their cash collection agencies deposited money 4-5 days after collection from customers. They also faced challenges depositing money on holidays & after banking hours.
  • Operations – Due to delay of deposits by Hero FinCorp agents, the reconciliation process was delayed and it also made it difficult to keep a track of cash collections in real time.


With our wide network of retailers, spread across India, Hero FinCorp’s customers and collection agents could easily locate the nearest PayNearby shop with the ‘store locator’.

Physical cash deposited by customers and collection agents were converted into digital cash in real time and settlement was processed even after banking hours, every day of the week.

  • Overhead expenses for manual reconciliation were eliminated 
  • PayNearby’s single unified MIS platform helped in optimizing costs.


Our solution streamlined the entire cash collection process and optimized NPV for Hero FinCorp. After the turnaround time for collected funds to reach Hero FinCorp reduced from 3-4 days to 1 day, the loss on interest on monthly throughput was reduced by 0.11%. 

We facilitated Hero FinCorp to multiply their presence in Tier II, Tier III and rural markets. Hero Fin Corp was previously present in about 65% of 20000 pin codes across India. With our solutions, Hero FinCorp has been able to increase collection touchpoints to about 75% of 20000 pin codes.

We eased the EMI deposit experience for Hero Fin Corp customers.


We plan to continuously expand our offerings and geographic presence, whilst offering class-leading financial services to all sections of our society. Our partnership with PayNearby has facilitated us to multiply our presence in Tier II, Tier III and rural markets. PayNearby’s technology architecture is a key differentiator in the market and such a setup not only promises the highest success ratio but also maximizes efficiency in cash collection. We are glad that we collaborated with PayNearby, it has helped us to bring efficiency to our cash collection process and expand our geographical reach

Subhranshu Mandal Head – Operations Hero Fin Corp

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