INFIN

                In West Africa french speaking countries , 60% of the population over 15year have no access to the financial system . While 87% have an electronic mobile account , these money don't allow them to save money or have access to credit. In Burkina Faso the country i am living in , 41% of  people save money at home and less than 15% have access to credit. 

                 The financial system is not adapted to their need and capabilities and they are not easy to serve. As a consequence they are unlikely to be able to improve their financial status over time and become more socially  excluded.

                  The solution i propose is INFIN an financial application connected to a microfinance that can work without internet connexion and that communicate in local langage to permit to people to have cheap access to savings and credit      

The specific problem we are trying to solve is the lack of access to financial system for many people among whom many are vulnerable . In Burkina Faso more than 6000.000 over 10.000.000 adult people have no access to the formal financial system and can't therefore increase their financial capabilities. This is caused by many factors among which poverty because accessing to the financial formal system have a cost and is not widespread (1,5 points of sales for 10.000 inhabitants) , also people are not literate (Literacy rate is less than 50%) and cannot use the mobile bank systems because of no relevant literacy and IT minimum knowledge.

This potential ressources and saving could permit to finance the economy and increase people financial capabilities through lever effect. 

87 % of people have access to mobile money because this use basic instructions through USSD and it is widespread (108 point of sales for 10.000 inhabitants). 

INFIN will allow to solve the main constraint and propose an new model of accessing to the financial system to excluded people 

INFIN is an mobile application based on both  USSD and web technologies  allowing people to do some basic transaction to save money and request for credit and the solution will communique in local langages to give some basic instructions for transactions. In burkina faso we have planned the three main official local langages (More , Dioula , Fulfulde) .

The application will communicate with a microfinance system (INFIN Microfinance) allowing to raise money to finance the informal system in a secure way. 

We plan also to have a partnership with a electronic money issuer and plan to have our own electronic money wallet within a period of 2 years. This way we can lower the transaction costs for the susbsribers. 

The target population is the population excluded from the financial formal system . Many of them use informal system to save money (Non authorized money collector , giving no interest and proposing saving costs about 5% monthly). But these people have barely access to formal credit. 45% of them in Burkina FASO practice loan between households. Our target are rural areas and poor suburbs where they live and organize a community through INFIN Solution

Our solution allow to give access to the financial system to excluded people through digitization of the process to make it simple , easier and affordable. The same persons excluded from the financial system are excluded of the digital ecosystem for many reasons. Giving them access to the digital economy using simple process , communicating in their local langage will make them discover and adopt digital tools because they make their life better. 

Concept : The stage of development because the prototype is not yet finished. We are still working on it and the integration not yet done because we are planning to work with a cheaper provider entering the market. We have also done a informal test with a credit kiosk in a suburb. People can have A credit of 5 dollars and reimburse it in a two weeks period and we are trying to extend it. this way we could have easily our point of sales for the electronic wallet

Full time 2

Part time 2

Contractors 2

Amed CAPO , MBA HEC PARIS 

I have hold some executives management and financial position in three different countries. We have develop three digital solutions including a soution aiming at increasing informal sector visibility to gain access to some market

Maxime TOE 

Have hold executive commercial position in many organisation as CCO  , and Chief Marketing and Commercial Officer