Frequently Asked Questions (FAQs)
What is unique about MiKashBoks?
- Firstly, our focus is not introducing a new financing model but rather finding innovatives ways to augment well understood existing ones and build new pathways for them on MiKashBoks.
- Additionally, being a saving model agnostic platform increases our scope and use cases. A user can be part of groups that practices a well defined methodology, for example VSLA, SUSU, SACCOS in Africa, Self Help Groups, Chit Funds in South Asia, credit unions in the United States and the UK. MiKashboks is also fully customizable to fit users’ requirements.
- Added to that having an Open API Platform, enabling open innovation and creating immediate value to users through partnerships with fintech innovators, lending institutions, and NGOs aspiring to service millions of these groups
- Lastly, when we bring users online – there is a huge opportunity to leverage tools of AI to improve their interactions with each other, experiences with service providers, and enable them. We build these positive pathways into how code is written keeping this vision in mind.
How does MiKashBoks handle privacy and consent issues
Users govern all interactions on MiKashBoks and informed consent is part of every step of their journey. They decide what groups they accept invitations to join and if they connect with external integrators, they initiate that connection, control permissions, and the length of that connection.
How do you safeguard data & asset security
How do you help users find value in their data?
How are you designing for low connectivity and low literacy?
- MiKashBoks is offline first, can be used without regular connectivity, and syncs transparently with the cloud when connectivity is available. To use MiKashBoks the group member recording the meeting only needs about a minute internet access a week so transactions they recorded in the last meeting are synced before the next.
- Our UI and UXs are intuitive and simple to use having been developed through a human centered design driven process throughout the design and development process
- An SMS interface into the platform provides an alternate interface for non-smartphones users, providing them with both data on their’s and their group’s positions, reminders in the form of automated SMS sent to them and simple querying capabilities
- Finally we are working on an IVR interface powered by AI based chatbots and natural language processing that aims to in the short term provide in user’s local language voice based information on theirs and their groups position and important reminders and the long terms support voice based queries and recording of meetings. We believe that this will be a game changer for truly solving for our non-literate users
What is the MiKashBoks Open API Protocol
What are some example use cases on the MiKashBoks Open API Protocol
- Reference applications through which NGOs and community organizations can better monitor and support groups within their network when consent is provided by these groups.
- Nationally available services for users such as social protection programs and digital identity that can be extended now that many of our users who are informal workers can be discovered and supported through the Open API Protocol
- Financial services such as savings accounts, loans or insurance schemes that meet the daily and long-term needs of users.