It was a pleasure for LFS Advisory GmbH to represent HelloCash as an Exhibitor at the Qatar Fintech Virtual Expo & Summit that took place on 24th of August 2021. The Qatar Fintech Summit is the virtual meeting place facilitating networking opportunities among leading industry experts to foster collaboration, discuss current challenges, business opportunities, develop market strategies, share knowledge and identify solutions aimed at shaping the future of Fintech. https://www.qatarfintechsummit.com/
Ongoing social distancing and other precautionary requirements have forced traditional financial institutions, especially in the MENA region, to accelerate the implementation of their digital transformation plans, with customers and businesses demonstrating a heightened level of engagement with Fintech. Accelerated digitization, with banks embracing new Fintech strategies have enabled them to develop products and services that meet existing and ever-changing customer and regulatory requirements, overcome current market challenges, while building resilient systems and enhancing operational efficiencies. Fintech solutions will have to play an ongoing role in the economic recovery, while accelerating the emergence of an inclusive, robust and innovative financial services industry.
Our showcased solution, HelloCash, is a community supported cash management platform that creates a peer-to-peer network between mobile money users (interoperable through aggregation) to allow them to manage their cash needs among themselves. HelloCash is built with a focus on reusability of resources – through seamless integration with existing resources within the ecosystem Hellocash helps reducing cost of service, enhancing value proposition, account activity & customer experience. As a result, HelloCash becomes a plug-and-play model.
Our innovative and one of its kind complete cash management solution specifically targets MFIs, Banks, PSPs and mobile money services, this is first of its kind solution that can help manage both electronic and physical cash. Our solution creates a community of users (agents or customers) having bank accounts or mobile wallets to connect with each other and manage cash requirements (physical and electronic) among themselves. This not only eases cost and efforts for banks/mobile money services to ensure liquidity in market but also improves customer experience and utility of mobile accounts by enhancing customer experience (reduced service denials) but also by added value to a bank/mobile account allowing users to earn from the accounts, this helps reduce churn and increase usability of accounts especially mobile accounts where gross to active ratio is always a concern. Our solution can also enable females within their communities to earn income without investing extensive capital or training especially in economies like Asia and Africa.
Introductions were made and business cards were exchanged. LFS witnessed keen Interest and possible opportunities for collaboration have been presented to us and should be concluded upon further communications outside of the Summit. We invited attendees to view our digital booth and ask questions where we provided a brochure and video materials explaining the concept. These can be viewed here:
LFS recognised the networking benefits of the event and will be joining similar events in future. These will be announced on our LinkedIn ! If you see potential for a collaboration or for more information on HelloCash, please contact – Imad.chishti @lfs-advisory.com.