Remote Lending and Alternative Data
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Problem Statement:
Social distancing prevents potential lending clients from delivering documents in person.
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COVID-19 Barriers:
Requires no touch/in-person collection and validation of data.
Remote KYC/Onboarding
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Problem Statement:
Customers would like to sign up for bank accounts or other financial products without having to appear in person – especially in rural areas.
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COVID-19 Barriers:
Requires no touch/in-person, must identify the client. Also provide and validate necessary information and documentation.
Digital Invoicing and Supply Chain Payments/Finance
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Problem Statement:
Difficult to send and track digital invoices and facilitate payments, creating financial history and data from MSMEs for lending.
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COVID-19 Barriers:
MSMEs need credit to survive massive drop in income.
Cashless Payments
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Problem Statement:
Payroll, remittances, and other disbursements or remote collections needs to become digitized.
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COVID-19 Barriers:
Paying employees in cash can be a vector for infection.
Queueing and Customer Service
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Problem Statement:
People need to be able to learn about products, resolve customer service issues, and understand loan and other product terms remotely, without queueing in the branch or while queueing in a safe manner.
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COVID-19 Barriers:
Social distancing makes in person customer service and customer education challenging; and digital channels require new ways of communicating or queueing to assure client needs are met.
Remote Marketing and Education
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Problem Statement:
Sales, marketing, and customer education channels are largely in-person
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COVID-19 Barriers:
In-person customer engagement does not work in a pandemic especially in rural areas.
