Isn't this how the elma model works?

On Wed, Aug 28, 2013 at 1:47 PM, davis waithaka <daviswaithaka@gmail.com> wrote:

You could start with one or two small banks and sell to them the convenience angle. Initially this would be for customers within their members (m-banking?) which would eventually have the Mpesa model that you are avoiding.

Alternatively, this could be built as a separate entity where participation is user-based (ie the user approaches you for the service eg by downloading the app then 'forcing' their bank to work with the app). This is a much harder way to go at first but it will most likely have the best chance of survival and success.

Davis Waithaka

On Wed, Aug 28, 2013 at 12:41 PM, Kinpro Computers-All IT soutions <kinprocomputers@gmail.com> wrote:

Then you would need  API or direct Electronic data Exchange connection
from each bank.then you can have webbased connection that can be
utilized by computers,phones with webbrowsers, other wise you would
need USSD infrastructure and liaison with telecoms to catch up with
users in their networks.
--------- Forwarded message ----------
From: kris njoroge <krsnjo@gmail.com>
To: Skunkworks Forum <skunkworks@lists.my.co.ke>
Cc:
Date: Wed, 28 Aug 2013 11:06:28 +0200
Subject: [Skunkworks] Idea: Banking App idea
Can't seem to find the initial email but this is not my original idea
am just adding on to it. The basic idea is using your phone either
smart or dumb or any device that has a mobile phone no you can make
payments directly to anybody or entity using there phone number.

So what would be the difference with the present system. One, it would
be open, anybody who has a bank ac in whatever bank can have access to
the system and can make and receive deposits directly into there bank
accounts. Payments and deposits are done into your bank ac in real
time.

Key advantage is you don't have to withdraw to make payments. The
implementation of this system would be endless eg landlords, chamas
etc.

The downside is that the banks are not everywhere and might be a
challenge to get access to the funds but with the growth of agency
banking it could work.

Maybe, done the line we could come up with our own bank cards that are
recognized in East Africa, cheaper than Visa/MasterCard that the
masses could use as we move towards plastic money...

Nicholas Peter.*
Kinpro Computers.*
*Box:*16954,Arusha.
*Tel :*+255 732 972287.
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