Assumptions as per THE BANK

ASSUMPTIONS ROOT CAUSE

The other half doesn’t earn decent salary.
Profitability
They are not long term customers and hence
won’t be profitable.
The other half is not aware of the banking
protocols. Awareness
The other half is uneducated.

The other half majorly comprises of Not our target sector

immigrants.
The other half doesn’t have documents Convenience
mandatory for opening and account.
The other half doesn’t have access to Convenience
technology, banking services.
 Assumptions as per THE OTHER HALF
ASSUMPTIONS ROOT CAUSE
Need minimum balance to open an account.
Awareness
The bank is only for the rich people.

It is inconvenient to open an account.

Convenience
Need multiple documents for opening an
account.
The bank and its technology is intimidating.
Intimidation
What if they are not able to pay back.
The turnaround time on getting a loan is high. Processing time/Instant Cash

Do not trust the banks and its hidden Security/Trust

fees/charges.
ATM Insta-Cash

We realized that people have a big need for cash. It’s the most comfortable method
of payment for a big percentage of the unbanked and underbanked population.

Processing time and convenience were one of the major pain points of our targeted
population.

Hence, we predicted that ATMs would be a good point of contact to dispense

instant cash/loans to this audience.
ABEL-Privilege Scheme
This scheme is for the disabled working age (25-64 years) section (unbanked and
underbanked) of the population.

This section of the population are the people who do not have a bank account or
do not use the banking services due to their disability.

We came up with the idea for this section of population to implement the instant
loan service in netbanking. They can apply for loans online and we will have an
executive come to their home to handover the cash (turnaround time 24hours).
FDIC 2017
Midwest
Survey
Results
BANKING STATUS FOR MIDWEST