Enactus Bindura University Team Launches an electronic mobile platform-Bucklink

Technology World
Nickson Tatenda Dzvanzva  05 July, 2018 18:01 IST
Project Title : Bucklink
Description :
Is an electronic mobile platform that acts as an intermediary or a delivery channel between the surplus and deficit units in the financial sector. It targets *Mainly* civil servants, financially excluded women and other individuals across the country by enabling them to have access to financial institutions, which are mainly located in urban areas a distance from someone who is working and living in the peripherals of the city or country.
*Core functionality*
To ensure that users access loans and other financial services or products in the comfort of their homes or workplaces through a push of the button on the MobileApp. The MobileApp will allow users to tender in their loan applications through the platform, communicate if the loan application is approved and advise a secure disbursement method. The mobile app is sync with the National Financial Inclusion Strategy 2016-2020 and will contain the following key functions but not limited to:
✔Security Feature, Log In n Out Functions
✔Financial Institutions Selection E.g Quest Financial Services, Maypro Financial Services, Lion Finance, Kci etc
✔Charge Sheets
✔Loan Application
✔Choose disbursement Method e.g. Mobile Money, to collect or bank transfers
✔View Advertisements
✔Balance Enquiry
✔View contact details
✔Branch locator
For users to gain access to this platform they must register with their respective financial institutions, upon registration, it will then be installed in their mobile phones or be given the USSD or an activation code depending on their mobile services provider.
*Revenue Streams*
Revenue streams of the project will be generated from commission from adverts, subscription and referral fees.
We propose to commercialise the product by receiving commissions on every approved Loan, subscription fees and referral fees:
➡Currently the market is charging 4.5% average commission on approved Loan to Sales Agents hence BucksLink will serve as an electronic agent
➡Subscription fees for adverts will be pegged at $200.00 per month subject to change
➡Referral fees of 50c on all new application enquiries subject to change depending on volumes
➡Payments will be made in Bucklink project account on every month after Reconciliation
*Target Market*
Intended to bridge the financial gap between Microfinanance Institutions and ; civil servants limited to those that get paid through Government Salary Service Bureau to mitigate mitigate the credit risk, women in business, general women, informal traders.
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