Trucard infosolutions pvt. ltd.

problem trying to solve:how to provide credit with simple interface where traditionally banking and financial institutions have not reached or are reluctant to venture despite the modern technology options  and demand for secured credit and bullion savings

we encourage savings in an asset which is made possible in small accumulations by the users  based on the small accumulated savings over a certain period of time a typical debt trap scenario can be avoided.

A system of creating lien of bullion units so accumulated by the users/account holders can be then offered to lenders as asset backed loans or credits.

This cumulatively and positively impacts the borrowers with a lower rate of interest and the ability to borrow as much which matches the capacity to return.

A platform that avoids over lending or overheating the system in the micro lending or in small lending space.

Trucard as a platform addresses the challenge of micro savings in a digital environment using the conventional asset of bullion. Given the currency challenges in many of the developing nations it is possible to enable the small daily savings by the target segments like those of micro enterprises, small shops, rural markets and unorganized, unbanked or underbanked areas.

Trucard as a platform addresses the challenge of micro savings in a digital environment using the conventional asset of bullion. Given the currency challenges in many of the developing nations it is possible to enable the small daily savings by the target segments like those of micro enterprises, small shops, rural markets and unorganized, unbanked or underbanked areas.

Trucard as a platform addresses the challenge of micro savings in a digital environment using the conventional asset of bullion. Given the currency challenges in many of the developing nations it is possible to enable the small daily savings by the target segments like those of micro enterprises, small shops, rural markets and unorganized, unbanked or underbanked areas.

 financial inclusion,revolving credit for the average citizen who neither have access to modern or conventional banking 

according to world bank,Globally about 1.7 billion adults

our target customers and users are the average person with ability to save a little as low as 20 cents a day  and those of middle class with small disposable income who can save 35-40 dollars a month.

whereas as in developed countries most middle class and young professionals, immigrants , newly employed . we also cover cash transfers to digitalisation mode and value add to remittances

remain unbanked — without an account at a financial institution or through a mobile money provider.

our target customers and users are the average person with ability to save a little as low as 20 cents a day  and those of middle class with small disposable income who can save 35-40 dollars a month.

whereas as in developed countries most middle class and young professionals, immigrants , newly employed . we also cover cash transfers to digitalisation mode and value add to remittances

Many of the target segment are moving cross border like people between India and Nepal, Asean region, Ecowas, in many Latin American and eastern European areas. Many of them need banking channels however a common ID management offered by the platform can be very well capitalized by the organizations , agencies and governments alike.

our primary approach at this stage is b2b i.e. offering the platform through partners with a large customer base and access to populous and clientele which require financial inclusion for different set of obligations

we provide an easier method of accumulation of savings with simpler and easy to understand interface.

we strongly feel that the QR CODE system for identity and transaction based services can be very helpful with supportive infrastructure and use of basic phones. thus a combine of sustainable low bandwidth and an offline mechanism can be very helpful in addressing the digitalisation of financial transactions including savings of unbanked and underbanked areas.

further more trucard platform has been designed to make minimal usage of internet to pull the data and information to execute the transaction.

It uses the securitized card format against bullion as core tool to its innovation of create, use and transfer bullion fractions along with currency as option to save with option of liquidity.

1. save in small fractions with as low as 10 cents

2.savings are denominated in bullion

3. uses 16 digit ID for global access to the platform

4. uses QR Code

5. it can work as an independent payment and settlement for the unbanked and marginalized

6. well integrated and offer banking transaction features like wallet and cards.

7. uses TPA mechanism i.e abcd@trucard similar to mailing system

8.inherent block chain architectural ability including block chain based PoS

competitive advantage:

1. combine offer of savings and lending

2. value adding to remittances

3. inbuilt close loop wallets and stored value coupons for accumulating and gifting small quantities of bullion

4. none of the competitors offer a cheaper and still reliable asset like silver.

5. it is currency agnostic and can be used as strong savings product  in bullion. this is helpful for individuals,small and marginal businesses , areas where banking and currency instability is rampant.

6. it can also act as an MSME payment and lending platform in many jurisdictions.

7.a progressive adaptation of payment, ID management by direct lien of units without issuance of physical or virtual credit or debit card, enhanced use of QR code which can work on simple scan technology.

8. easy to do KYC for future contact less payment and other settlements.

we propose to introduce simpler technology and financial solutions which is easily understood for inclusion of individuals and at institutional levels. solutions like QR code and 16 digit ID management for payments etc.

1. The System has a four-tier architecture. Frontend, Router API, Operations API & System Core, Document Store. The front-end has Mobile and Web interfaces.

2.our standard components:

White Box  - Express[], bcrypt, mongoose, md5, helmet, cluster

Black Box – Spring, Android SDKs

3. languages used:

Java[Web and Android], Electron JS, Node JS, Python & Bigdata , kafka , spring boot

Trucard as a platform addresses the challenge of microsavings in a digital environment using the conventional asset of bullion.Given the currency challenges in many of the developing nations it is possible to enable the small daily savings by the target segments like those of microenterprises,  unorganized, unbanked or underbanked areas.

The platform can work very well in refugee areas or populations including receiving of remittances and payments amongst each other. The platform has a mail based system(e.g 9999999999@trucard) for P2P and merchant payments or transfer of bullion units.

The targeted disadvantage groups can not take the benefits of the regular banking and need a supportive financial mechanism.

Trucard as a platform caters to the needs by permitting small savings and conversions to cash in a wallet and even dispensing the cash when desired through the network.The platform has requisite persona to see and ensure that mechanism stays trusted and fool proof.

the platform is alive to a reality of providing customer id management which has multiple usages and hence uses QRCode enablement for each consumer which can be used on a smartphone or in a printed form/format.

 The platform also generates for each account a 16 digit id which is a universal identification system in addition to the QRCode.

The creation of KYC as in case of most developing nations and refugee areas can be integrated or can be used for dispensing many of the financial benefits. Indeed these financial benefits can be well stored in trucard for each consumer. 

Easy integration over REST. You can consume our REST API across all the personas.

Existing user is allocated a new identity on our systems. [CRN, 16 digit id.].

New user is simply on boarded by generating a new identity.

Redirection is done simply by posting to our web interface. Easy web form can be posted and the user is redirected from your application to our application. Pre-verification can be done and onboarding is seamless. No additional configurations have to be done. Identity management is as same as the above in rest.

It considers a standalone solution taking into consideration slow internet and basic telephones or minimum infrastructure which connects to the global financial network.

The platform enables the users to maintain their trucard account even if they do not have a smart phone the. The basic feature phone can be used to access their accounts and deposit savings through the agent/ support network. In many of developing nations where people work in cross border areas can put their remittances to a very good saving mechanism without going through the hassle of current currency related issues and black market issues.

the platform also introduces an element of sophistry to the consumer at large to enhance the level of awareness towards the financial products requisite in general life or safety net for the old age or when there is loss of income.

the combination of savings and credit can be very well entrenched in the digitalization of unorganized rural and daily farmers market. as the complex banking and transactional behavior is circumvented by a simpler forms like QR CODE are mobile based mailing IDs for executing payment transactions in an efficient yet simple and comprehensible format

We currently serve 5000 people.

in one year, around 150000(hundred fifty thousand)

in 5 years , 10 million

to reach majority of developing nations across the continents.

focus and provide easy to use technology which enables digitalization of payments and business transactions through QRCODE or similar technology in next 5 years.

to create infrastructure which works on low bandwidth and can support offline infrastructure.

enabling the rural agrimarkets through the digitalisation of transactions with low MDRates or transaction costs.

a) some of the jurisdictions may have few regulatory challenges on accumulation,storage and lending against the proposed asset base of bullion.

b)in many of the jurisdictions digitalisation of accounts is still a challenge at institutional level and at individual level as well.

c) the creditability of platform and acceptance of proposed solution may require local partnerships.

d)Internet access can also be a challenge in few places although bandwidth may not be the requirement.

our approach:

we will partner those institutions which can either comply or are not covered by the regulation. in some instances we can improvise/customize our platform offering to conform with the regulatory challenges. however in the long run in such jurisdictions we will address the regulatory bodies to allow or offer a regulatory mechanism which enables the current platform offering as it is designed.

we propose to introduce simpler technology and financial solutions which is easily understood for inclusion of individuals and at institutional levels. solutions like QR code and 16 digit ID management for payments etc.

we will seek desirable partnerships at local level.

the platform is designed to accommodate  SMS based banking and transfers along with the smart app approach. the app has been designed to work on the low bandwidth and 2G or 3G networks. however the platform is also being modified for offline transactions.

full time- 11 workers

•Syed Kamran Rizvi:

•Founder & CEO

Lawyer with international experience ,Founder Lawnote

•Amit Shinde:

•CTO

•19+ years of Engineering experience at Global Techcompanies

•Hands on programmer, cloud expert, blockchain and quantum computing enthusiast

•Milind Satpute:

• Business Head

•22+years of experience in banking – retail and corporate asset business

•Successfully raised Venture Capital for Mosambee of ~$2.5mn

•Arvind Sinha:

• Partnerships Head

•28+years of experience in the Auto industry with the likes of Maruti, Tranzleasemynewcar.com

mentors:

sachin khandelwal 

•MD & CEO - Sadhan Enterprise (a NBFC)

•Ex CEO Magma Fincorp HFC

•20+ years of experience across banking – lead asset businesses,
portfolio buyouts, mergers and acquisitions for ICICI Bank

Asad m ansari

•Financial Inclusion and technology for Banking and finance, based in
USA.

Custodian / Storage- IDBI Bank, BRINKS

Responsible for trusteeship on the platform and storage of the bullion bought for customers

Business Aggregator-Ebix cash

Enables outreach to customers through partnerships (License Fee/ User Based)

Wallet / Card Partner-mastercard 

Provides wallets, open loop cards and credit cards through the banks or trucard

loyalty points company- accentiv 

our target customers and users are the average person with ability to save a little as low as 20 cents a day  and those of middle class with small disposable income who can save 35-40 dollars a month.

whereas as in developed countries most middle class and young professionals, immigrants , newly employed . we also cover cash transfers to digitalisation mode and value add to remittances

the combination of savings and credit can be very well entrenched in the digitalization of unorganized rural and daily farmers market. as the complex banking and transactional behavior is circumvented by a simpler forms like QR CODE are mobile based mailing IDs for executing payment transactions in an efficient yet simple and comprehensible format. 

in today's date we are raising funds to the tune of 1 million USD.

half a million USD

this award will enable our recognition of innovation and popularize the financial inclusion model for the unbanked and underbanked. and yes the prize money will also enable us to meet some of our financial targets.

we partner with financial institutions and non profit sectors working on financial inclusion,micro savings , micro credit and credit. for captive customer base and providing the credit/loans at much competitive and affordable rates and structures.

further we leverage lot of technology including block chain and other if management technology like TPA (mobileno.@trucard) and to bring down the cross border transaction costs, etc.

world bank, IFC, western union, JP morgan , HSBC. they can help us by making a global outreach of the product which will give the advantage of solution getting accepted across the globe and making cross border banking simple for the consumers who also have global needs and requirements for capital and payments.