Helping drive economic growth through financial inclusion

Bringing more people into the financial system has the ability to enhance GDP growth, reduce poverty and create new market opportunities for the private sector. According to the world economic forum, While financial inclusion – the adoption, usage and sustainability of financial services – is generally linked to socioeconomic development, it faces numerous challenges in Africa. Some of the challenges that have been identified include:

  • High bank charges in traditional banking.

  • Concerns of fraud negate the convenience of cashless transactions.

  • Banks require to much paperwork and response times are slow.

  • A significant amount of business is conducted informally

  • The lack of Financial literacy. 

The Raven system was conceived with a goal of banking the unbanked, every facet of how the system works is rooted in financial inclusion. We address the above challenges by:

  • Making transactions within the system free and only charging a minimal amount on deposits and withdrawals.

  • The clients account/wallet is secured using their fingerprint. there are no cards or pins that can be stolen.

  • Registering a new client takes a matter of minutes, no paperwork is required.

  • The Raven system is targeted at the informal merchants, all costs for devices are kept low and there are no monthly charges for the merchant devices.

  • The transaction flow of the merchant devices has been made very simple with the device requiring a few button presses to execute a transaction.