Best Ideas 2021 features all the nominated entries submitted under ‘Submit your Idea’ category. All the entries consist of innovative solutions or propositions for an enterprise that champions the Sustainable Development Goals. They can be on the conceptual, planning, or start-up stage.

Digital Bank/mobile Money Transfer Platform

Published on June 25, 2021 um 14:21

Explain your idea in details:

This is the platform that will allow smooth transaction between bank accounts holders and mobile money number account holders. It is mainly targeting the small medium businesses and marketeers. The users will have the priviledge of depositing their money into the mobile money accounts and then at their own time, transfer that money into their bank accounts on their own and Vis-vesa. Once the money is in their mobile money account, the user can decide either to forward that money into his/her bank account or remain their. The user can also decide whether to withdraw from bank account into the mobile money account or not. All this service will be done on mobile phone. This will help reducing traffic at banks as well as serving time. It also help SMEs to save. This service will be carried out through putting up secured mobile booths in strategic places. This service will allow individuals and businesses to pay for goods and services using their phones in the comfort of their homes. You will not need to go to your bank to make a cash deposit in your accounts, you can put that money in your mobile phone account and transfer that money to your bank accounts at your own time.

Expected impact of your idea on sustainable development

The drivers of the economy are SMEs and marketeers, but in many and all cases, marketeers have no serving facilities. This is because they find it insane to walk a 30minutes distance just to go and deposit $1. It doesn't make really make and sense. But this platform will them even to make a one dollar deposit into their mobile account number that will be put right in their localities. For instance, they will choose to be putting a dollar in their account per day, and only decide to transfer it into their bank account every monthend. This will be entirely decided on their own. By using this platform, many will know the value of saving and alleviate poverty in the long run. This platform will as well allow those without bank accounts to open the bank accounts with the bank of their choice. This platform will also allow the users to two types of serving. The long time saving which is their bank accounts and the Short time saving which is their mobile money account.

Plans for implementation and sustainability

This entirely a mobile transaction platform aiming at leveraging between banks and mobile phone users. Your walk to a booth near you, deposit some amount of money into your mobile money account, then on your own, at your own time decide what amount do you want to transfer to your bank account and how much do you want to leave in your mobile money account for miscellaneous use. It all depends with the user. No limit on how much you can Deposit, Transfer or withdraw. This platform will be done in engaging banks and mobile service providers. The source of funds is through grants/Loans

Your profile

My name is Franco Matakala Matakala, born on 28 February, 1981 in western province of Zambia but currently living in Lusaka. I have been a graphic designer in the bigger part of my life but later pursued a career in accounts and enrolled in ACCA. My motivation to take up this concept is to encourage less and middle income families into saving for the future.

Stage of Idea

start-up stage

Business concept initiator

Picture upload

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Comments

September 3, 2021 17:14

This entry is a good start-up for financial technology. SMEs who have lesser access to banking services may find help in this kind of financial technology. Keep it up. May your start-up idea flourish and thrive. More power to Mr. Franco Matakala Matakala.

July 12, 2021 14:07

This is the platform that will allow smooth transaction between bank accounts holders and mobile money number account holders. It is mainly targeting the small medium businesses and marketeers. The users will have the priviledge of depositing their money into the mobile money accounts and then at their own time, transfer that money into their bank accounts on their own and Vis-vesa. thank dfor this great vision