Kaoshi | Disrupt 2020

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on kyoto you’re able to go on the platform and allow for a profile to be created for you so we actually create profiles for our users that allow them to connect with stations across the globe so similar to what facebook does creating profiles for people that social profiles can actually create financial profiles that can be used to offer venture services or to actually access the services that for which deal with your obligations in your home countries does that mean you have to have direct relationships with all of these banks and and services that you’re working with and what’s it like establishing that yeah essentially it’s for us as b2b sales for now at the moment we’re currently selling to banks and fashion institutions to actually currently offer the service so um for example we have kicked off our sales in nigeria and this is because nigeria is where i come from and we have the closest ties to but more importantly is because if you look at the figures for remittance per capita nigerians send the most money back home more than any other immigrant demographic in the world and the issue is not that they don’t want to do this is because before and now the only service that existed for immigrants is just remittance you just send your money back to your home country but really there’s no service that addresses the reason for which you send your money back in the first place so we are giving the opportunity to institutions that are back in the home countries of immigrants to be able to market their service and before now they didn’t have the technology or the data but the platform to do this so we are crushing that divide that currently exists that this allows for that connection financially between users that are based somewhere else geographically and banks that are based in a different place across border essentially sounds like a big part of this is also the data about the the user then right can you talk a little bit more about that and why that’s so important exactly because like i said earlier the reason for why this cannot happen or this couldn’t happen before now is because power banks initiate services our banks offer services to um users for loans financing and everything if you’re in the u.s and a bank of the us wants to offer you financing they have to look at your profile your credit history your data so at the moment kaioshi is able to gather the same exact data and that is like employment history credit report existing investment income statement bank statement transaction data including an algorithm from this account and then get this data into comprehensible financial report with which the banks continue to assess because the exact same thing that banks in the u.s would do to somebody who lives in the u.s they would look at the data look at your credit profile so we create some sort of credit profile for the immigrants which allows them connecting banks wherever the banks may be across the globe got it and that’s kaioshi thank you princess really appreciated thank you so much

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