CliqueFinBUSINESS DAY FOCUS 4.0
CliqueFin builds social impact platforms and businesses from ideation to sustainability that financially empower communities. We break down barriers to the digital economy and encourage the lower 95% of the economically active population to participate in it. We leverage our rich data and insights and our integrated and ubiquitous network to offer appropriate financial solutions that foster independence and wealth creation.
Who we are:
A FinTech Company Moving at the Speed of Life
As the world continues to advance, so does the technology we use. However, there is one fundamental problem. If the technology advances faster than the people who are meant to use it, a disconnect arises. Many businesses strive to bring faster solutions that advance at the speed of light. To be relevant, we need solutions that advance at the speed of life. What does this mean?
Advancing at the speed of life
South Africa is an emerging market where +85% of its population prefer to use cash. There are many reasons that they do this, multiple initiatives by Banks and Telco’s with cheap Bank accounts and wallets have not had meaningful adoption by this market. Instead of trying to change their behaviour, CliqueFin decided to solve problems that this market has and in so doing we add speed to life. Cash customers’ biggest issue by far is that they are excluded from the digital economy, they cannot experience the benefit of e-commerce, so each transaction that they do is laden with unseen costs such as travel. By solving this problem we save people time, money, minimise risk and give them access to the same opportunities as the top 15% of the population. We solve this problem by digitising cash for use online through www.ottvoucher.com a CliqueFin company.
This population is excluded from first tier investments and healthcare products, only 15% of South Africans have medical aid. In addition, it is difficult for a cash customer to acquire household assets because credit is difficult and expensive to access. Lay-by is the current method for the majority of the population to access high value items but requires commitment to large monthly payments. CliqueFin exists to bring solutions to the consumer’s doorstep to solve these pain points, solutions that cater to today’s problems so that everybody has the opportunity improve their lives.
Adapting to the Consumer
Preferring to use cash should not alienate or serve as a mechanism to disadvantage already disadvantaged communities. Life has become even more expensive for South Africans who prefer to use cash. Accessing basic services costs more for those who already don’t have much. For those who live in the city, paying your electricity, satellite television bills, or ordering groceries can be done on apps. Modelled after the silicon valley giants, most South African FinTech solutions make it impossible for the cash customer to participate. You still find disclaimers that speak to “delivery in outlying areas” being billed differently. Businesses have normalized the idea that consumers should adapt to them, rather than businesses offering solutions that adapt to the consumer.
The Cash Customer is King
At the heart of all our solutions, lies the cash customer. Bringing solutions to today’s problems in a way that consumers can benefit without having to rearrange the lifestyle that they prefer. We say it’s okay if you prefer cash. To us, the cash customer is King!
“Financial inclusion is not just a paragraph we add to PowerPoint presentations and forget about it. It’s our ethos. We bring convenience right to the doorstep of the cash customer, all our solutions are aimed at bringing the cash customer into the digital world. There is no denying that the world is becoming more and more digital, and this shift is happening at the speed of light, but it is our moral responsibility that the conveniences of the digital world can be enjoyed by all and that we bring cash-to-digital solutions that advance at the speed of life.” – Tony Reddy [CEO CliqueFin]
OTT is a payments solution that bridges the cash and digital worlds. We do this through digitising cash for use online – creating convenience and eliminating the cost, time, and risk associated with transacting in cash. Over 30 million cash users can now realise the benefits of e-commerce and collect remittances from their local Spaza stores.
LAYAWAY™ is a save now buy later platform that includes lending; now consumers who either cannot or who could partially access credit participate in the digital economy and develop their personal profiles. This platform eliminates unnecessary costs and risks thereby enabling consumers to acquire assets and improve their lives.
EASYinvest gives the mass consumer market access to first tier investments without the requirement for minimum monthly payments and the intimidation factor. Categorized in short, medium, long and life terms consumers can now invest for life occasions that are meaningful to them.
Second Chance is an always on real-time rewards platform that brands use to incentivize consumers for their loyalty, engagement and/or for reaching personal financial milestones.
CliqueMedia is a mass market communication solution for advertisers, comprising of communicating through our evolving collection of platforms and partnerships that serve people in communities. We offer a wide range of digital and on- site advertising solutions that allows significant reach and conversion opportunity for brands.