Project Everest

Solution

[Solution]: Microfinance Amisen April 2019

Our product attempts to bridge the gap between people in lower socio-economic areas and accessing the knowledge and the infrastructure to start a savings plan. This product is also aligned with the bank of Amisen and will set up a pathway, for this customers segment, to the loans they need to grow their income.

 

The first unique value proposition of our solution is providing education about the banking system and building savings. Using the financial plans that are drawn up for customers who pay for the service, these people are able to access concise and easy to understand information about how to kick start a savings account. This will teach them about how to put away money. Customers we recommended to take out a loan will also learn about what this process looks like and how to remain on top of repayments and staying in good debt.

 

What this education will do for our customer segment is not only kick-start their savings, but also enlighten these people about how to utilise banks, alleviating the frustration and confusion felt towards the banking system.

 

The second unique value proposition is the infrastructure we have created to collect and hold our customer segments savings. The financial plan we have set up starts with a goal setting sheet in order to determine the amount of savings and in which time they want to achieve this. In order to help ensure this for our customer, we do not let them access these savings unless it is within business hours and the scope of the purchase is going to help facilitate income. Because this is so strict, it enables our customer segment to grow their savings in the fastest amount of time available to them. This means that our customers will be able to access their purchasing goals, within a set time, and be able to grow their current income, make them more financially independent.

 

The third unique value proposition is providing a clear and accessible pathway to acquiring a loan. In assessing the data from the financial plans, we will be able to do a risk assessment based on their income and identify which customers would be viable for taking out a loan. From there, we are able to act as a funnel from the bank to the customers and make that pathway clear and alleviate extra unnecessary effort.

 

Our solution is a service of providing customers with education about savings and the banking system through the financial planner and then offering clear and easy access to a bank loan.

edited on 2nd May 2019, 22:05 by Charlotte Crofts

Andrew Vild 3 months ago

You need to have a basic outline of where your revenue comes in with respect to the solution here. eg. What are you charging $$ for and what is "free" or part of educating your market.

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Andrew Vild 3 months ago

Status label added: Solution

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