Problem statement:
About 2 billion people worldwide don’t have access to financial institution via mobile or any other devices. More than 20% of unbanked adults receive wages in cash. Usually, in developing countries the exchanging of money takes place through cash. There are still a lot of people who are unbanked. A foreign worker has to open his bank account in order to support his family; and foreigner worker, students and travelers face many difficulties for opening of bank account.
Unbanked people face many difficulties in his daily life and professional life. The banks would not let the small business man to give loans because they want to give loans to large organization to get more earnings.
Market analysis:
There are a lot of contradictions that increase the use of internet and mobile services, at the same time markets have high percentage of unbanked persons.
INDIA
The world’s fastest growing Internet market with a user base growth of 51.9 %, India is present at 7th number in ranking on current unbanked population. In the report of 2015, The unbanked population that year would be around 233 million in India.
China
In china around 731million internet users, this amounts to 53.1% of the total online population. In china about 200 million rural adults are still far away from formal method of financial system
Pakistan
In Pakistan about to shown a whopping 185% growth of mobile broadband users, but over 100 million Pakistanis are still far away from banking.
There are a large gap between the users of internet and the users of modern system of banking in other countries like Africa, Southeast Asia etc.
Zopa
A successful case study
As the use of internet is increased the loan business has evolved, and give a peer-to-peer connection between the lending companies and taking companies. Zopa, a UK- based company created in 2005, has given 2 billion loans to local businessmen since the time of its creation.
This network will provide a platform and make connection of borrower and lender by making the direct connection through peer-to-peer connection without the involvement of intermediate parties. This P2P company pay check on the borrower and the lender, and exchange of money take place through this platform.
Zopa is widely known company of micro financing i.e.it give college loans, consumer credit, mortgages, etc . Zopa has proven itself to be a very successful company that does micro financing.
This system can be risky; due to fault in data control management system and they do not have any control over the project. If the P2P Company defaults, both lenders and borrowers lose everything.
Target market
With the rise and penetration of mobile technology, and with the younger generation being tech-savvy, it is very easy to adopt P2P lending in ASEAN.
Solution
AssetStream is a team of experts that have vast experience with in the emerging market.
AssetStream aims to create an extensive micro-financing ecosystem and will raise financial awareness among our clients through consulting services and educational materials.
AssetStream’s platform will be able to include the following benefits:
https://www.google.com/url?q=http://AssetStream.co&sa=D&ust=1561840130964000&usg=AFQjCNGstNEYZe2vYVnf0_01Hl-XwPhKFQ
https://www.assetstream.co/AssetStream-Whitepaper.pdf
https://t.me/AssetStreamBlockchain
https://www.facebook.com/AssetStream/
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