yufin platform
The yufin platform is our toolkit to raise income of 10 million households at least by 50% in the next five years.
Start with small merchants
yufin is the financial control centre for small merchants to run their business more efficiently and become banking and distribution hubs for their customers.
They increase their revenues by onboarding digital marketplaces and selling via digital channels. Small merchants can accept more digital payment options and also start ordering using the same yufin platform. This helps both their suppliers and their shoppers.
Starting with small merchants amplifies the impact 10X.
Better unit economics
The yufin platform makes small merchants the centre of digitalization. It makes merchant services available today only to the large merchants, possible for smaller merchants in smaller towns and rural clusters.
Financial inclusion done right
Many digital payments and lending programs in emerging markets fail because of high costs to reach and acquire customers. The yufin platform turns trusted small merchants into acquisition channels for digital services reducing customer acquisition costs for multiple businesses and helping small merchants generate additional fee income using mobile phones.
From small merchants to their shoppers
Using the influencer power of small merchants and a fleet of reseller agents, yufin will move to offer better ways to pay, save, invest and insure to their shoppers in the next phase. The platform then becomes a B2B2C services enabler, helping local banks reach out to new customer segments.
What makes yufin a platform?
Our collective experience selling, launching, operating and scaling mobile banking, contactless payments and digital commerce services revealed that instead of building point solutions for a well -defined current problem set, one should craft a platform to handle both existing and future services.
Business applications, digital payments acceptance pipes and digital asset infrastructure are the backbone of this platform and form 80% of the shared, common base. The remaining 20% localization for each country would be 3rd party connections to banks and other local entities, for handling local regulatory flows and the unique local user experience to respect local norms, preferences and habits.
This is the yufin platform.
Why is yufin unique?
Prefab model
yufin packages successful vertical solutions to build a sticky ecosystem of high volume, high frequency monetary transactions. It is faster to launch and helps local banks expand their footprint.
Type less, talk more
We are designing a simpler and more inclusive transaction ecosystem that uses voice and supports local languages used in local communities.
Smart phones but hesitant users
Phone users in emerging countries are starting to carry smart phones but remain hesitant to use transactional services that they would rather trust their postman or corner shopkeeper with. Old habit die hard.
Grows as you (l)earn more
It starts out very simple and grows as users become more used to the flows and more confident in handling financial services. Yes, it uses AI/ML under the hood but our small merchant customers would rather sell more and serve their regular shoppers better.
Current situation
Standalone blocks, not all serving large merchants.
The yufin platform
Coupled blocks, all serving small merchants in emerging countries.
The yufin platform is built on a common foundational layer e.g. common part of User Experience (UX), bank and other 3rd party connectivity, KYC and regulatory requirements like AML.
It is simple, cost effective and fast to lay out and run services like digital payments acceptance, group buying and merchant communities, tokenized rewards and loyalty, data driven credit scoring engine and lenders’ marketplace on top of these common foundational blocks.
In the second phase when yufin platform is a B2B2C services enabler, these building blocks will serve shoppers of our small merchants.