Moneta was the Roman goddess of Money, Prosperity and Guardian of Finances. According to the World's Bank 2017, there are 1.7 billion unbanked adults around the world. In recent years, the rise and spread of mobile phones has provided a valuable tool for connecting people with each other, access information, and interact with businesses in new ways. In the same period, however, banks and other financial institutions have been slow to embrace mobile technology to provide widespread access to financial guidance and services.
What it does Moneta? Try our
As a guardian of your finances and a protector of your funds, Moneta helps you with many questions unbanked people can have, for example users can ask Moneta things like: Where and how can I open a bank account? How can I access to a credit?, What is a credit score?, How can I build a budget?, What are some saving tips? or How can I manage debt?, and the agent will respond according to your questions. You can try it on Facebook messenger: https://m.me/monetabot
Moneta is a bot integrated to FB Messenger, that uses natural language understanding to help banks and other financial institutions, on-board, educate, and provide continuing support to unbanked customers. A potential bank customer can chat with Moneta to learn step-by-step how to open a bank account, learn to manage & access debt, ask for saving tips or goals, build their income and many more.
How we built it
We empower unbanked people to bridge their Financial Exclusion by allowing a channel where they can make questions and understand the benefits of Banking. Using a Facebook messenger bot we accomplish this; we let the users interact with an artificial intelligence based agent that will understand in a personal way, each one's necessities. As well, all this data can be provided to the financial authorities and banks so they can accelerate their inclusions through their Visa cards.
Challenges we ran into
No internet access in unbaked populations.
Accomplishments that we're proud of
Live & published Bot at Facebook Messenger: https://m.me/monetabot
What we learned
People suffering financial exclusion are condemned to a poverty cycle for their lifetime's, and that small actions as building a powerful tool where a person easily access a bank account, learn to manage debt or improve their credit score, can transform billions of people's life!
What's next for Moneta
Start pilots with major financial institutions in Latin America and the rest of the world, where they can leverage the Moneta technology to scalably provide quick and convenient customer service and education to their existing and new customers.