Blockchain Wallet for Financial Institutions
About
Applicant name: Koibanx
Innovation Name: KBX-Debit
Innovation Type: Solution
Website: http://koibanx.com
Mission: Blockchain Wallet for Financial Institutions
Innovation Description: It is too expensive and inefficient for Financial Institutions (FI) to bank the unbanked and service micro-customers. Those which actually do, overprice them for the trouble.
We want to become their technological partner in order to help them become pioneers in breaking this barrier. KBX-Debit is a platform which by applying Blockchain technology & Smart Contracts, has the capability of providing customers (FI) with a set of tools to issue, transact and cash any digital asset they want to create.
The platform allows users to onboard after a tailored KYC and transact or cash their assets at different kiosks or convenience stores (Cash-in & cash-out networks). Smart Contracts allow FI to automate business logic, decision flows and doc review. Blockchain transactions allow FI to transact and manage assets at extremely low costs without losing security. These features give FI the possibility of handling a whole new market segment which today is unattended due to the costs of the current available system & tech.
Status of Innovation: Pilot
Innovation Active Since: 1/10/2015
Applicant Type: Private Company
Headquarter City: Buenos Aires
Headquarter Country: Argentina
Year Founded: 2015
Main Category
Main Category Choice: B2B Solution
Why do you think you should win this category?:
B2B because FI have to learn how to tackle new atomized markets but it´s not only too expensive for them to transform in house but also they don´t see exactly how because technology development is not their core business. Therefore, we believe a better and more inclusive financial system can be built by combining our disruptive technology with the financial background of FI. We aim to become the technological partner of tomorrow´s FI. We provide FIs a solution ready to use, easy to implement, which gives them the possibility of expanding their business to a new segment of the market which they couldn´t reach today. The market size of our solution its, potentially, as many FI in Latam we can onboard. However, what we are definitely more interested is in the social impact of our solution. Providing a mean for FI to actually serve unbanked and micro-customers customers has an economic-social impact which we love. We have deployed 3 pilots, 2 in Arg and 1 in Colombia. Our team has more than 20 years of combined experience in finance & tech
Secondary Category
Secondary Category Choice: Technology Innovation
Why do you think you should win this category?
We believe our solution could also be applied to this category merely for the technological point of view. Despite the fact that our main goal is to ally and work together with FIs which actually share our mission and vision of aligning their economic interest with this economic-social goal of including (Financially) a larger amount of the population in Latam, if you take a close look into the technological aspects of how transactions, fraud prevention, business flow automatization are built in the application they actually represent a break-through in the industry. Mainly, due to our expertise and our experience in applying Blockchain technology and Smart Contracts. The end-result makes the operation cheaper and more scalable without losing security of current banking standards.
Team Members
Full Name: Leo Elduayen
Role: CoFounder & COO
Linkedin: https://www.linkedin.com/in/leo-elduayen-a2314399/
Full Name: Edy Weber
Role: CTO
Link: https://www.linkedin.com/in/edy-weber-045258/
Full Name: Gabriel Kurman
Role: CoFounder & CEO
Link: https://www.linkedin.com/in/gabriel-kurman-4515497/
Supporting Links
Brief Solution Deck: http://docdro.id/gs14j6X
Entry Representative
Full Name: Leo Elduayen
Role: CoFounder & COO
