THINK FOREX THINK DIGITAL Updated as on February 2020 The Forex - PowerPoint PPT Presentation

THINK FOREX THINK DIGITAL Updated as on February 2020

The Forex Industry Outward Remittances – LRS – USD Million 12000.0 Estimated Market Size – Annual Growth Rate est. Retail Forex 2021 39% USD 20 – 25 Billion 10-15% 9000.0 1536 Market Size Growth Rate 4022 Education 6000.0 Travel 2568 Maintanance Others • 1200 Changing Demographics 2937 • Rising Disposable Income 651 3000.0 2170 • Relaxation in Forex Regulations 1372 • Overseas Education • 2353 Growth in Business & Leisure Travel 1897 1419 0.0 2015-16 2016-17 2017-18 Key Drivers Source : RBI Website

The Competitive Landscape Banks Forex Players Digital Players (Authorised Dealers Cat I) (Authorised Dealers Cat II) Axis Bank Bookmyforex.com Thomas Cook HDFC Bank Fxkart.com Ebix Cash ICICI Bank Nafex.com Unimoni Yes Bank Extravelmoney.com Cox & Kings Omni-channel Digital Service Provider • Digital Platforms • 20+ Branch Network • Authorized Dealer Category II

Company Profile 1986 2000 2009 2016 – 17 July 2019 Date of Incorporation & Listing in Started MTSS Change in Promoters - Surrender of NBFC Launch of WSFx Smart BSE, Started primarily with Acquisition by Smart Global operations as principal License & Sale of MTSS Currency Card transportation, bill discounting, agent of Western Union – Spice Group from Patel’s Business to EBIX hire purchase, merchant banking 2009 – 2016 2017 – July 2019 1990 – 91 2006 Growth in MTSS Business with a Network Focus on Forex Business, Launch First listed company in India First FFMC to get of 9000 Agents Pan India, Principal agent of Digital Platform for Corporate to get FFMC License from upgraded to AD2 of Western Union, Ria & Instacash & Agent Segment & Digital RBI – Start of Forex License through wholly-owned subsidiary transformation of Forex Business Operations Goldman Securities pvt ltd.  WSFX, Wall Street Finance Ltd. is a part of Smart Global Group, a US$ 2 Billion Conglomerate, RBI Licenced authorized dealer category II providing customized Foreign Exchange services across all customer segments with a focus on corporate & student  Digital Solutions for Forex requirements of Corporates and Agent Channel  Facilitation of Travel Insurance  Pan India presence with 20+ branches across major key cities in India  Partnership with Yes Bank & Thomas Cook for their Prepaid travel card solutions  Partner with IndusInd Bank, Yes Bank & Axis Bank for Outward Remittances  Catering to leading customers like E&Y Group, Schindler Group, Siemens Group, Synopsys Group, HDFC Credila etc.

Board Mr. Ramesh Venkataraman Chairman – Non-Executive Director Mr. Venkataraman runs Avest, a private equity investment firm advising a sovereign wealth fund and a leading family office in the Middle East as well as making direct investments in Asia. He is currently also on the board of various Companies in India and overseas where in most cases he chairs the Executive Committee or equivalent. Mr. Brij Gopal Daga Asha H. Shah Mr. N. Srikrishna Mr. Sudip Bandyopadhyay Independent Director Woman - Independent Director Whole-Time Director and Chief Executive Officer Independent Director Mr. Bandyopadhyay has over 30 years Starting his career in the then Exchange Control He has over 22 Years experience in foreign Ms. Asha Shah has worked for over 30 years Department, Mr. Daga served RBI for over a exchange industry and has comprehensive of rich and diverse experience in in UTI Mutual Fund (erstwhile Unit Trust of quarter of century in various capacities. He joined knowledge of foreign exchange business various areas of finance and financial India) both in Corporate Office as well as services. His area of expertise includes UTI in 1987 as a Deputy General Manager and including prepaid products. He joined the Branch Network, including heading the UTI retired from there as Executive Director in 2001. He Company in July 2017 to head the Forex NBFC, Microfinance, equity, commodity MF's largest branch in India. She has and currency markets, wealth was Managing Director of Central Depository business and has been instrumental in the experience and expertise across all major management, mutual fund, insurance, Services (India) Ltd. during 2001-03. He has served digital transformation of the company to a functions such as Business Development, on the boards of leading listed and unlisted investment banking, remittance, forex Digital Forex enterprise. Marketing, Publicity, Product Development, and distributionof financial products. companies as nominee of UTI. Currently, Mr. Daga is Branch Operations and Sales & Distribution a member of the Mutual Fund Advisory Committee Network. She has travelled widely across of SEBI besides being a board member of a MF Gulf, Europe and Asia. trustee company and NBFCs.

Key Management Mr. N. Srikrishna Whole-Time Director and Chief Executive Officer He has over 22 Years experience in foreign exchange industry and has comprehensive knowledge of foreign exchange business including prepaid products. He joined the Company in July 2017 to head the Forex business and has been instrumental in the digital transformation of the company to a Digital Forex enterprise. Mr. Dipesh Dharod Ms. Vanishree Visrodia Mr. Roshan Dalal Mr. Chethan S A Ms. Chaitali Desai Mr. Praveen Koppikar Chief Financial Officer DVP - Corporate & Strategic Alliance Business Head - Wholesale Business Head - Retail Forex Company Secretary DVP - Corporate & Strategic Alliance Over 14 years of experience in A Forex & Treasury veteran in Over 15 years of experience in Forex Over 24 years of experience Over 12 years of experience Over 15 years of experience, the money changing business. Money Changing Industry with Industry. Facilitating company's in money changing industry in the secretarial domain, Dipesh was previously associated activity in sales, marketing and Prior to joining WSFL she was over 27 years of experience, with prior experience in Cox Chaitali was last associated with Pheroze Framroze where he Roshan was last associated with remittance PAN India. His previous associated with Centrum Direct. & Kings, Tata Capital and with IL&FS Securities Services rose to the ranks to head the She heads the Strategic Alliance & Weizmann Forex Ltd. assignment was with Essel Finance Reliance Capital. Ltd. finance function. Corporate tie-ups Pan India. VKC Forex Ltd as National Head, Remittance.

Products & Partners Travel Currency Forex Outward Receive Traveller's Insurance Notes Card Remittance Money Cheque

Customer Segments Wholesale Leisure Corporate Student Tour Operators/Others • • • • • Wholesale segment Leisure segment Corporate segment Student segment deals This segment caters to deals only in currency deals in Currency deals in Currency in Foreign currency, Foreign currency, notes Notes, Travel Card, Notes and Travel prepaid cards, outward prepaid cards, • Major activity involves Travellers cheques, Card remittances/FDD’s for outward remittances • • domestic purchase DDs & TTs Customers here are university fees/personal The segment caters to • and sales between Major customers are business travellers, expenses tour remittances, visa • authorized dealers, individual travellers, professionals and Student segment caters fees, film shooting, exports and imports group travellers etc. MICE travellers to the millennials educational tie up etc. • Major players in this travelling abroad for segment are Banks, studies AD II and FFMC

Product – Segment Map Products Wholesale Corporate Leisure / Students Tour operators Personal / Others Segments Currency Notes Travel Card Telegraphic Transfer (AD1/AD2) Foreign Demand Draft Traveller’s Cheque

Digital Transformation Agent Platform Consumer Platform Corporate Platform Wholesale Platform Automated Forex Ordering Platform Platform for Agent Partners (travel agents, Automation of Wholesale B2C Platform and consumer app for customised to manage forex educational consultants) to order Foreign Ordering Process. end customer for ordering Forex and requirements of Large Corporate, Exchange for customers, Tour Remittances. Outward remittance. Integration with SME & MSME. Providing high visibility of transactions with Card Management app. trust and transparency. Live Under Development Under Development Live WSFx Smart Currency Card - Digitally Enabled - Multi Currency - App enabled - Tie – up in Place with Bank and Technology provider - Integration with Consumer APP Live

Corporate Governance Independent Board Internal Audits Committees Compliance • • • • Policy Audit 7 Member Board Audit Committee - Chaired by Internal Compliance Committee • • • 4 Independent Directors Mr. Brij Gopal Daga Process Audit Concurrent Audit of Branches • • • • 1 Promoter Director Nomination and Remuneration Functions Audit System Level Controls • • Committee - Chaired by Head Office and Branch Audit Training & Development Mr. Sudip Bandyopadhyay depending on the size will be on • monthly or quarterly basis Stakeholders Relationship Committee - Chaired by Mr. Sudip Bandyopadhyay • Corporate Social Responsibility – Chaired by Mr. Brij Gopal Daga