Stage of Innovation: Prototype (You have a working physical product)

Problem: - It becomes a hassle to perform bill payments at the end of the month, you either miss out on important dates and subscription deadlines(e.g Cable TV Subscription, Electricity Prepaid & Postpaid bills) which makes you unable to watch your favorite program or access the internet. - Based on our survey & market research we observed that 90% of the people, do not check their bank statements unless there’s a transactional failure or challenge, this is because bank statements are built on a structure whereby the entire data is in rows and columns, making it tedious for users to go through this data row for row. - Many often wonder why their loans don’t get accepted, this is caused majorly because they’re unaware of their credit score. Hence, someone poorly informed on this subject applies for a loan of N4,000,000 and wonders why the lending service reaches out to him with an offer of N50,000. A lot of financial insecurities come into play with loan shark apps at every corner of the web. - Budgeting is quite a big problem within the African ecosystem. People spend based on what is made available and not what is budgeted. This is one of the major reasons people live from paycheck to paycheck. - It is a challenge for our target market to look into long-term investment opportunities that will preserve the value of their asset or item acquired to generate income or appreciation.

Unique Selling Point: People are currently using traditional methods of bill payments, which involve manually keeping track of various bills and deadlines, visiting different payment centers, and making transactions through cash or bank transfer. They may also rely on accountants, bank managers, or other professionals for managing their financial transactions. Our solution is different in several ways. First, we provide a unique bill automation system that automatically carries out bill payments at a set date, ensuring that customers never miss a deadline or face service disruptions in addition to facilitating loans for bill payments that are automated to customers with a high credit score. Second, we offer transaction automation for individuals looking to pay domestic workers or dependencies, eliminating the need for manual reminders and ensuring timely payments(Family members, etc, a good use case is for daily payment to site contractors(like electricians and plumbers working on a site)). Third, in the case of bank statements being tedious to read. We perform a spending analysis and you give a monthly spending curve in the form of a chart. Hence, why view bank statements, when you have a chart that conveys all spending? If you need to fetch a specific transaction you would only need to search the transaction type, hence we’d generate a list of all {type} of transactions requested. Our chart is the first of its kind on any Fintech application giving users an experience they can only find on blockchain solutions. The perk of this is we utilize open banking to ensure you see spendings across up to 20 Bank accounts! on your dashboard. Fourth, we provide credit scoring services that evaluate customers' finances and credit scores to fetch a credit amount, enabling them to access loans with a higher chance of approval. Fifth, we help customers set up a monthly budget system based on their income, promoting financial accountability and savings habits. Sixth, We have a trust fund builder that democratizes the challenge of building trust funds for kids, enabling even the poor and middle class to be able to secure the future of their children. Overall, our solution streamlines and simplifies financial transactions, eliminates the need for manual record-keeping and reminders, and promotes financial literacy and responsibility. https://www.blinxhq.com