FUFA2020: Fin-Inclusion

Universal Banking Access with Fusion Essence

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Inspiration

Approach to alleviating global poverty inspired by :

The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2019 to Abhijit Banerjee, Esther Duflo and Michael Kremer “for their experimental approach to alleviating global poverty.” The laureates have played a decisive role in reshaping research in development economics. Their research has already helped in alleviating global poverty and has great potential to further improve the lives of the most impoverished people on the planet.

What it does

It is a product independent, user interactive platform to automate and enhance user experience in establishing real time financial connect with transaction account product in offer from Essence. Develop a quick customer on-boarding using Image recognition & Optical character recognition(OCR -AI/ML) Enable Payments (Deposits & Transfers) Statements/Balance inquiry Real time SMS notification framework plugged with Registration process, Customer Onboarding, KYC status initimation, deposits and payments made on the transaction account.

How I built it

Cloud Platform based solution with OPEN API’S: Party/Customer On boarding Artificial Intelligence (AI & ML) -> AZURE Computer Vision API (analyze and ocr) Functionally Independent Components with Rest APIs hosted in Spring Boot Plug & Play Android platform based mobile application. Repositories of Product Workflows with Essence.

Challenges I ran into

FFDC Open API is not fully matured so we have to build a parallel platform to host REST API's for account creation, payments (transfers) and statements and build a framework for real time SMS notification.

Accomplishments that I'm proud of

As a team we believed in the cause of this idea and we were able to connect all dots and made it working with all new technical stuffs like Android, Spring Boot tc.

What I learned

Along with new tech stacks we have learnt about Team spirit and motivating each other and the rest is history. Fin Inclusion has turned into Learn with Fun inclusion.

What's next for FUFA2020: Fin-Inclusion

Digital Identity Micro Finance like Agricultural loan, Insurance products offerings, Credit products offerings and other banking services. Ocean of opportunites

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