eSACCO banking app for build challenge

andre

We would like to introduce the second iteration of the eSACCO banking app for comments and inclusion into the build challenge. (See also eSACCO ICO posting)

When we partnered with the eSACCO community bank (www.esacco.co.ug) our fist aim was to get them operational within the market with an app that allowed them to deliver a service within the existing SACCO framework.

That app is currently available on the Google Play Store for registered eSACCO members, (If somebody wants to test that app contact us and we can give you access to a test version) allowing members of the eSACCO to do basic banking with a wallet, savings account, loans and shares facility.
https://play.google.com/store/apps/details?id=com.esacco.main01

Wallet Account
- View balance and statement inc date range
- Transfer money to and from their savings accounts
- Transfer money to other members wallets (for free)
- Transfer money to 3rd party wallets (MTN and AIRTEL mobile money wallets currently available)
- Transfer money into their wallet from 3rd party mobile money wallets (MTN and AIRTEL mobile money wallets currently available)
- Buy airtime from all the MNO’s
- Pay their loans

Savings Account
- View balance and statement incl date rage
- Lock their savings account based on a savings target or a for a period

Loans
- Get access to instant pre-approved loan based on a shares/savings algorithm
- Application is on the phone and the loan is instantly available and payed into the wallet where the member can cash it out.

Shares
- View share account balance
- Purchase additional shares

In addition members can:-
- view a basic dashboard that show the no of members, savings accounts and loan accounts in the eSACCO
- View the constitution of the eSACCO
- Share the app via social media
- Register new members (and get commission for each member they sign up) This allow for real viral marketing. Once a member is registered they can download the app and complete their registration inc photo and ID on their phone. Final approval is then done by the eSACCO admin.

We are now ready to introduced Stellar blockchain functionality into the eSACCO with the second version of the app, starting with the wallet

Wallet
- include a Stellar wallet with the existing wallet
- Include a stellar based digital payment function (clic.pay)
This include :-
- a smartphone merchant option,
- a feature phone option
- a one-click mobile phone e-commerce option
- and the ability to create an invoice for paying later
- include the ability to receive loyalty points (as stellar assets) from the digital payments
- Send XLM to any email address or mobile phone no
- Send XLM between wallets
- Ability to buy XLM
- Ability for members to buy their SACO coins
- Allow card-less wallet ATM deposits and withdrawals (we have signed an agreement with a local company that is testing a $1000 ATM which they plan to deploy 30 000 across the EAC region)

We are also considering issuing the shares as assets.

We have completed most of the basic functionality and will work on the UI etc next week. I will update more in the next few days as we progress.

The Stellar wallet side is still very basic and we can learn a lot from some of the excellent wallets that I have seen here.

A test version will be available by end of next week if somebody wants to help us test.

andre

Sure, will let you know as soon as its ready.

bkolobara

[unknown] Only 3 days passed. OP said

A test version will be available by end of next week if somebody wants to help us test.

Give him some time ?

andre

So much to do and so little hands :-)! Few more days.....we are getting there.

andre

Update - we are still busy testing, should have a version out by Tuesday.
For what its worth, the eSacco have signed a deal with a company that are planning to supply 10000+ ATM's here in Uganda, each unit sub $1000, doing deposit and withdraw. We have successfully integrated the eSacco system to the ATM today and will have the first unit delivered first week in August. We are planning to add the ability to buy XLM on the ATM for cash as a next step.

bkolobara

andre

We are planning to add the ability to buy XLM on the ATM for cash as a next step.

What would the costumers gain by doing this? Is this just a way for them to "invest" into Stellar Lumens?

mkalema

andre This is great news! The future is bright for this country especially the unbanked community

andre

Yes, its to give people in a primarily cash economy access to invest in cryptocurrency and to raise the awareness of Stellar here in Africa. With less than 1% of the population having cards the main payment methods are still cash or mobile money.

andre

mkalema
Thanks! Yes, this have great potential. We are in discussions with a number of large agriculture cooperatives where the free money transfers between members alone are going to have a huge impact. Also have an insurance company that are putting together micro insurance and pension products for us, because we can now collect very small regular payments as almost no cost.

andre

[unknown]
No, not yet, app side is mostly done, but changing infrastructure and switching domains at the moment, should have bridge and federation ready and moved over to clic.world by the weekend. For now you are welcome to see how the current production app works - I will put a link and login detail for a demo version on Slack in the clicyourworld private channel. Will also put a link there for the pre-alpha version and merchant app to test clicpay - you will be able to test that as soon as the bridge and federation is sorted. Whats your Slack ID?

andre

eSACCO Plus version was released today on the Playstore