I grew up in a large family of 8 people in a small village in Lebanon. Everyone in the family has a smartphone. But, only two of us, my brother and I, have bank accounts. We have access to financial services that the rest of my family, as well as many others, don’t.
My story is not unique. More than 1.7 Billion people worldwide are, like my family, still unbanked, which means they do not have basic access to the financial system. Yet, two-thirds of them own a mobile phone. They cannot save, invest for the future, or even ensure that their money is safe. Their businesses do not have access to credit for funding their growth. Low income countries that receive significant remittances from overseas have to rely on financial services companies that charge high transfer fees.
Today’s innovative technology makes it possible for consumers everywhere to access financial services. Leveraging blockchain and mobile technology, here at Bankey we have designed an inclusive financial network that connects the unbanked with a community of individuals who convert paper cash into digital cash. These local “keys” as they are called enable value to be saved, invested, or shared globally.
Let me tell you how Bankey works:
First, load money into your Bankey account from a local “key” in your area or from your credit or debit card if you have one. Then, send and receive money from your mobile phone anytime and anywhere. You can pay your bills, shop, and withdraw cash from a local key, all with Bankey. Establishing a dependable method of value exchange, connected through human networks and scaled by technology, will have tremendous benefits for the unbanked, worldwide. All now possible with Bankey.
Our mission is to empower the unbanked population with a secure mobile money solution that allows them to easily store cash, instantly receive payment, and safely make payment, anywhere, anytime, from their mobile phone, at a fraction of the cost it currently does.
Now is the time to take action and become part of this empowerment movement and help unleash the economic power of the previously excluded. Join us in our mission to bring Bankey to life so our families have a more secure future. Together we can make finance inclusive!