NanoBNK offerings are in three areas:
Digital Banking as a Service that provides all the mobile and web platform that a banking partner might need, and Digital Wallet as a Service for banking or non-banking partners who would not like to use their Core banking or do not have access to one.
Fintech/RegTech Applications such as KYC/ AML, Micro-Finance, Cross Border transfers, Payment services and crypto-wallets.
Fintech Consulting Services in the field of Artificial Intelligence, Big Data Analytics, Blockchain and Information Security. We also partner with financial institutions to help them along their digitisation journey, including providing expertise for Robotic Process Automation (RPA).
The trends in financial services industry such as global de-risking, fintech entrants and digital transformation have started a wave of disruption to Tier 2 and Tier 3 banks in Africa and Asia. These banks will need to develop strong partnerships with technology firms in order to meet these challenges.
We developed a unique business model whereby we engage in strategic partnerships with a banking or non-banking partner in each markets and provide Digital Banking as a Service, [from innovation, user experiences and engagement of the platform and applications] while the local partner handles the sales, marketing, legal and regulatory aspects of the business.
On the other hand, while the Global/Regional banks as well as independent Tier 1 banks can meet the Financial, Human, Intellectual and Technological Capital challenges, it is causing their cost-toincome ratio to rise quite significantly. As a result, some of the Tier 1 banks are now engaging with us to assist them in meeting these challenges while lowering their cost-to-income ratio.
Technological Capital is the most crucial one for us as by the end of 2018, most of our revenue will be generated by traffic managed by our automated platforms. Moreover, Intellectual and Digital Capital is also key and we grew this capital by leveraging on experts within the industry for our Solutions Architecture, Design, and Development of our platforms in-house. Financial capital is required by NanoBNK in its development phase but we expect the Company will become a key contributor to the Financial Capital. Human Capital is always an important one and we need to ensure that our people are fully engaged. The Relationship Capital has lower significance in the current Capitals mix due to the hybrid nature of the business model where the local partner is responsible for sales and marketing.
KITTEN Marc [28.08.2017]
Our Fintech Platforms and application ensure that all men and women, in particular the poor and the vulnerable, have equal rights to economic resources, as well as access to appropriate new technology and financial services, including micro-finance. The actual design of the system was based on the quest for Financial Inclusion vs Financial Access.
Ensure women’s full and effective participation and equal opportunities for leadership at all levels of decision-making of the company including equal pay for equal work. In addition, in all our implementations and training, women are given the same opportunity.
We promote development-oriented policies that support productive activities, decent job creation, intrapreneurship, creativity and innovation, and encourage the formalisation of initiatives internally through basic remuneration as well as profit sharing.
We upgrade the technological capabilities of Financial services sectors in the countries where we operate, including encouraging innovation and increasing the number of R&D workers.
Our plan is to reduce to less than 3 per cent the transaction costs of migrant remittances and eliminate remittance corridors with costs higher than 5 per cent.