We have built QOGNITIV DIGITAL BANKING to bridge the gap between people in need of modern, simple, affordable banking services and commercial banks looking for new customers in Africa.
According to 2018 statistics, less than 20% of people over 15 years in sub-Saharan Africa hold an account with a financial institution. The percentage of adults with savings from financial institutions remains low, and only 7% has borrowed from a financial institution.
This can be explained by limited number of physical bank agencies, poor communication from the banks, banking services costs and micro credit access difficulties.
QOGNITIV DIGITAL BANKING addresses this problem by providing a digital banking mobile application and platform made of :
Two Android and IOS mobile applications integrating the state of the art of artificial intelligence for facial and voice recognition as well as the state of the art of cryptography.
A virtual bank office, for a 100% digital bank, allowing account managers to be assisted by artificial intelligence and customers to have access to all financial services everywhere.
We position ourselves as an IOB means (intermediary in banking operations) under license from the main central banks in sub-Saharan Africa. IOB can conclude new mandates with different credit institutions. We operate without holding client funds, financial transactions being carried out in real time by our partners.
Concerning our revenue model, we put the digital infrastructure in place, perform digital marketing, educate and bring customers to the banks. We charge the banks $10 for each successful opened bank account and then $1 per year per active account plus transactions commissions.
Our total addressable market is 350 millions people, the serviceable available market is 250 millions people and our serviceable obtainable market is 25 million people.
Digital tranformation, the future of banking and insurance sector in Africa Yves Fopa Qogintiv Technologies Founder