It would be good to pick a cup of coffee/tea while you read this post, as visions are not minuscule that you read them and sideline them. They need to absorbed and engrossed within, to make a decision that could help you with your new year, new beginnings, new goals, new targets and new aspirations to growth is what was the first advice made by Vishal, the CEO of Teknospire.
Fintech Vision 2017
As he continues - for a start-up that on paper may be just a year old, but its idea was incepted long back! As a founder, I may have the challenge to prove that the idea germinated still solid and must be nourished to a fully grown up tree, and with the way #Fintech industry is progressing, I feel we are a step closer to our goals.
First quarter of 2017 @Teknospire
When we were planning for the year, we had an anxiety of how we could continue helping people in rural/remote areas with technology especially our hub in Africa and India. There are technologies like Blockchain, Artificial Intelligence, Digitized payments, Chatbots, In-App-Payments, Data Analytics that are evolving, so could we use them for the betterment and it also serves our business interest?
We brainstormed and came to a logical conclusion of putting efforts to streamline and offer solutions for B2C Payments, Data Analytics for Payments, Services Aggregator for 10 African Countries, Corporate Payments Offering, Agri-FinTech Solutions and Chatbots.
We started our first quarter of 2017 with an aim to target the specific areas of the technologies mentioned above. While in February we were busy in scrutinizing the idea and the necessary information, by the end of first quarter we planned to release our first module in execution.
Plans For 2017 @Teknospire
Our plans for the year 2017 is to offer latest technology that could help in Digitization and connecting individuals from remote places, and that’s why we have -
- Payment Switch For Africa
Payment Switch is a platform that allows a transaction requested by an interface like ATM, POS, M-POS, Payment Gateway, Mobile Wallet, and then it authorizes with their particular bank and enables the deal to go through. With a Payment Switch offering any complex financial transaction could be completed in an easy, fast and secure manner. The Payment Switch comes with following benefits –
- Real-time access to clear, settle or manage any financial transaction
- Reduces cost, by making keeping the third-party services redundant
- Better control and flexibility to the directly attached devices
- Easy in adding, deleting, editing the merchant data
- Would also offer value added services like couponing, multi-currency dispensing and kiosk functionality
- B2C Payments
In a move to go paperless, B2C payments are up on the rise. As per some statistics available for the year 2009-2012, there was a decline by 16% per year in Business-to-customer checks in the US. While the report highlights High Paper cost, Slow processing and possibility of fraud and theft are the key challenges.The supporting factors for the Paperless drive are a low-cost technology with fast and easy access make it as a first choice to digitize B2C payments.
With B2C Payment solution we want business to send payments directly to the customers through a secured, fast and reliable channel.
- Data Analytics for Payments
Analytical tools are helping individuals in making an informed decision. The information provides a great insight that could help businesses in improving profitability and optimizing revenues. Analytics also assist in cutting costs and explore the operational gray areas pressing on setting up new strategic direction.
Our solution of Data Analytics for Payments would offer the features mentioned above with the other value added services.
- Services Aggregator for 10 African Countries
In modern time How do you think we empower the group at the bottom of the pyramid? By connecting them to the latest technology and allow them to explore the world. Our Service Aggregator that we plan to launch for 10 African countries would be a connecting point for the customers and vendors.
On my hand where these Service Aggregators provide flexibility to customers, it also helps the brick-and-mortar business to find a place online. Not to forget the unlimited possibility of entrepreneurship for the person who manages the Service Aggregator technology solution.
- Corporate Payments Offering
Our Corporate Payment Offering would be one-stop-solution for all the corporate needs. Be it corporates looking for financial transactions, bank statements, the filing of taxes, forex or a trading account, our integrated solution would help your corporate world in focussing onto their targets, while we take a good care of their hard-earned money.
- AgriFinTech Solutions
Agriculture is one of the oldest occupation in India, and it ties up most of the rural areas that are dependent on it. The government, World Bank, and other international grants are released to the farmers either in the case of natural calamity or as an external aid to procure modern farming equipment or world class seeds. How often do we know that the money released is used for the particular purpose?
Our Agri-Fintech solutions would streamline and automate these processes. The solutions would make sure that an individual buys/picks the thing for which the aid/grant is provided and it would be linked to AAdhaar Card leaving no room for misuse.
Chatbots are software programs that could execute simple tasks via messaging. For example issuing bot service, I could find the nearest ATM location and also get a monthly statement. One could also use bot services to track spending and make funds transfer.
Our chatbot solution would provide features on similar lines.
- Teknospire Brand Ambassadors
How could we end the vision post without introducing the people who are working hard to make the vision the reality!
Nirbhay and Venkat are the backbones of #PaymentsSwitch, while #B2Cpayments is owned by Anurag, Keerthi and Shiva, Hari is putting his best into #CorporatePayments. Priyanshu is sweating to design the best #ServiceAggregator, while Lakshmi is busy balancing
#Agri-Fintech and #Chatbots.
I really thank the Brand Ambassadors of Teknospire who are on pins and needles to achieve the vision!
Teknospire – Digitization is a way to move forward!