Cashbreeze

Inspiration

I sat and thought why can't I pay a market woman with my master card. Oh her business is too small to have access to a POS. Maybe She does not even have a bank account. There is a gap between her and me I thought to myself. So we decided to build a solution that bridge such gaps in a secure way to drive financial inclusion. These gaps are due to certain informal people not being able to use modern financial technologies either because they don’t have the devices that can access it or because of security issues like fraud, People have lost trust in the system and have decided to remain unbanked.

What it does

1. Our solution provides a middle ground for everyone to carry out seamless, efficient transactions with each other regardless of what their level of access to financial services is, And this will happen in a secure manner. For example, someone could have access to all modern financial services, but would still have to carry cash around due to the fact that he would definitely have to carry out transactions with the unbanked/underbanked which are mostly informal people.

2. Our solution seeks to address this issue, in turn addressing the problem of financial inclusion.

3. 
Our solution detects/flags transaction fraud using Big Data a modern technology that allows us to analyze a user transaction history to protect the user from fraudsters who might have access to the user account through sim swapping or stolen pin e.t.c. Once transactions are flagged we prompt the user for extra authentication (security question).



4. Our solution also uses an emergency pin for a situation like when a customer is been robbed at gunpoint, you can login with your emergency pin which will put a lien on 95% of your account balance. You can only see and transact 5% of your actual balance when you log in with an emergency pin.

How I built it

We decided to build a system that meets everyone on their own scale. Our solution is accessible through:-

1. USSD - a very important part of our system for reaching the digitally excluded people mostly unbanked informal people.

2. Web Application - a more robust application for internet-enabled users.

3. Desktop java app - for our big merchants who would love to receive payment via fingerprint from their customers who are registered on cashbreeze.

4. We integrated with FSI Sandbox Environment (Sterling Interbank Name Enquiry, Sterling Interbank transfers, Nibss Bvn Fingerprint validation).
5. APIs - For our merchants, fintechs and other financial industry players to integrate with us (hereby allowing our customers to gain access to their modern services like lending)


Top Use cases

1. Offline the creation of online available payment pages through ussd. With this, I can now pay a market woman with my card or bank account or any other modern payment channel through her payment page.

2. Giving our users access to modern financial services by providing their transaction data upon their authorization to financial players like lendtechs, etc. This goes a long way for the unbanked, who usually have no transaction record, And are left to suffer in the hands of cooperative societies with their high-interest rate.

3. We also have APIs for integration with merchant, fintechs and other players in the Financial Industry

4. Money at your fingertips with biometric payment for our big merchants to accept payment.


What is next for Cashbreee

Cashbreeze looks to add dispute resolution channels at the customer level through USSD, A customer can submit their dispute digitally and we resolve it. We will also be adding voice calls to customers (voice validation) as a second authentication apart from our current security questions for fraud flagged transaction verification, With this, if a transaction is flagged as fraud you will get a call to confirm the transaction with voice.

Built With

• bootstrap
• java
• javascript
• node.js
• php