SheFi

Her Path to Financial Fluency, One Byte at a Time.

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SheFi: Her Path to Financial Fluency, One Byte at a Time.

RUNNER UP SOLUTION AT SINGAPORE INDIA INTERNATIONAL HACKATHON 2023

The Problem

  • 62% of women do not own bank accounts.
  • 80% of women struggle with financial literacy.
  • 72% of women do not feel confident to invest their money.
  • Yet, women who invest have a higher portfolio value over a 30-year period compared to men's portfolios (25%).

The Solution: SheFi

SheFi aims to educate and empower women in financial matters, offering:

  1. Quiz Learning: Interactive quizzes to test and improve users' financial knowledge.

  2. Leaderboard: Competitive feature to engage users and motivate them to learn more.

  3. Shorts: Short, bite-sized educational content for easy consumption and understanding.

  4. Personalized Courses: Tailored learning paths for users based on their knowledge level and financial goals.

  5. AI Chatbot: Personalized assistance and guidance in learning and making financial decisions.

  6. WhatsApp Community Group: A platform for users to discuss, learn from each other, and get their questions answered.

  7. Referrals: Incentives for users to invite others to join and learn from SheFi.

Revenue Model

  1. Certification: Assuming 0.05% of Indian urban women get a certification.

  2. Advertising Model: In two phases:

- Phase 1: Negotiating with identified vendors.
- Phase 2: Creating an ads bidding marketplace with advanced targeting.

Geographic Segmentation

Targeting women in:

  • Semi-rural areas.
  • Rural villages.
  • Developed cities.

Distribution Channels

  1. Mobile App: Main platform for delivering content and features.

  2. Interactive Voice Response (IVR): For reaching users in areas with low internet connectivity.

  3. NGO Workshop Partnership: Collaborating with NGOs to conduct financial literacy workshops.

  4. TV Spots: To raise awareness and reach a wider audience.

Data Collection

  1. Data Collected from App and IVR: To understand user behavior and improve the product.

  2. NGO Workshops and Schemes: To gather demographic data and feedback for better targeting and product improvement.

Marketing Strategies

  1. AR Popups: Interactive marketing content for engaging potential users.

  2. Celebrity Endorsement: Leveraging the influence of celebrities to attract and persuade potential users.

  3. Deepfakes: Innovative use of AI for creating engaging and persuasive marketing content.

Competitors

  1. Digital courses, live-streamed sessions, digital community.
  2. Community, modules, financial calculators, investment, insurance.
  3. Investment portfolio, retirement planning, savings, webinars.

Mission

To financially empower every woman because every woman deserves to be financially empowered.

Further Ideas for Engagement and Data Collection

  1. NGO Community Events: Track progress and impact through KPIs, demographic data, and event attendance.

  2. Radio FOMO: Utilize radio to announce the winners or highest scorers of the financial empowerment quizzes to encourage more participation.

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