Weybit
Fintech Solutions for inmigrant families
Introduction
Problem
Remittances are neither fast nor cheap enough to be used daily by low-income populations. This disparity in wealth creation and distribution leads to limited financial opportunities for recipients. Despite receiving a consistent cash flow, they still struggle to access formal financial services such as mortgages, credit, or debt repayment, which hinders their progress towards financial stability. This issue pushes people towards the informal sector and limits their financial growth.To make sure that everyone has access to the same level of opportunities of the 4th global revolution, we need to make sure that everyone can move money(value) instantly without having issues of having today’s pain points as: Need a bank account, connected to the inadequate SWIFT system, and lag time of 10 days, this issues have a higher impact in Emerging economies than the rest of the world. If we solve this issue, the GDP of the world will increase the GDP of developing countries from 15% - 30% and ensure equal opportunities for all citizens in the fourth global revolution
Opportunity
Our primary goal is to attract customers by offering the lowest possible fee for money transactions. However, we plan to go beyond just sending money and offer a micro-credit solution that leverages the remittance flow of payments as collateral. By doing this, we will not only help our clients access credit but also create a revenue stream for our business by charging interest on the credits we provide. In addition to micro-credit, we will provide liquidity to our clients through various solutions, enabling us to earn more revenue and build long-term relationships with our customers.