2018 Financial Innovation Program (PIF) | Selected Projects

The 2018 PIF Assessment Committee has selected the following 10 projects that have entered the enhancement stage:

Financial Electronic Documents, blockchain technology app that allows market participants to issue, manage and remove financial electronic documents. These documents include electronic bills of exchange, electronic promissory notes, open and deferred payment checks, and any other financial instrument that requires blockchain data generation, tracing and immutability.

Dom, mobile wallet for domestic employment, platform that encourages access to bank services for domestic employees. This app has been designed for two types of users: employers, who will find it easier to record their labor relations, and pay contributions and wages; and employees, who will collect their wages more conveniently through an electronic wallet in the same platform; in turn, they may make payments and purchases using their wallet. Thus, they may recharge their SUBE card (a form of electronic ticket used on public transport in Argentina) or cell phone, make sundry payments or cardless cash withdrawals. Likewise, taking advantage of the digital onboarding platform, employers may open a bank account for their employees.

EasyAhorro, Mobile App, allows a financial institution’s customer or non-customer user to save money. If it were a non-customer user, they would be subject to a groundbreaking process of digital onboarding included in the app. The user determines the savings goal they seek to attain through an artificial intelligence chat. The system awards points for each goal reached and they are exchangeable for prizes. The app keeps the user informed of their saving’s outstanding balance which is calculated on an amount/term basis. In the case of having a low average, the app generates a pop-up notification of a pre-approved loan for the user. The user may connect the app to Facebook to check who of their friends also uses this app as well as to view their savings and help them achieve their goals.

Front, app that allows users to save money easily and in a friendly manner according to their savings goals; recommends how to keep their money safe from inflation; and grants benefits when achieving goals.

Güeno, online platform for comparing and processing credit lines. It provides individuals with tools to make informed decisions before a purchase, thus obtaining the best available loan according to their needs and requirements. It saves time and money and runs easily, quickly, safely and for free. The process is 100% online; it increases digital onboarding and speeds up the new customer’s admission. It is more effective and quicker to go through this process online than in person.

IMFnet, platform processed in the “cloud” to manage and exchange information on microcredits. This platform allows for microcredit management, scoring and information exchange profiles, and standardized reports. The platform’s main features are software platform in the “cloud” and easy access from numerous platforms (desktops, mobile devices, etc.). It is based on good practices and standards determined by SEEP Network (microfinance global network). Blockchain provides it with safety and privacy.

Payments Engine. Pim+Debin, flexible API designed to enable those shop owners with considerable size and technological knowledge to include the Pim means of payment in their platforms. It runs as a scalable and dynamic Pim payments processor that can be adapted to every business needs. The project includes an intelligent management system of payments that are collected by means of Pim, which allows for a systematic application for customers’ collection, among other tasks. Supplementary project: The main project, already in a beta production stage, will be enhanced with a second app. This aims to allow a bank account holder (individual or business) to deposit funds in their Pim account automatically through the use of Debin. This technological integration will enable the user to automatically recharge their Pim account—by accepting a home banking transfer just for once through Debin stage 2.

Pandora Card, payments system based on the use of a physical card associated with an app, which holds all the user’s electronic cards and/or wallets. When making a purchase, the POS requests payment authorization for the Pandora Card. At that time, Pandora Card gets connected to the user’s app, which makes the charge against one of the associated means of payment. Once the main or secondary method approves the transaction, Pandora Card sends the news to the POS and the transaction is completed. All this takes place in milliseconds so neither the user nor the shop owner notices the difference between making a transaction with a common card or with a Pandora Card.

Transparenta, platform that provides information on credit and investment options granted by financial institutions by means of graphics and useful comparisons. This is expected to encourage competition among banks and to cause them to improve their products, services and benefits with the aim of building their customers’ loyalty. This service stands out on two reasons: it rests on the public information provided by banks; and it enables customers to associate their accounts through APIs. This platform provides updated data on their bank profile and specific information on the financial institution’s products, fees, rates and benefits.

TuCuota.online, service that includes a software (TuCuota.online) that enables professionals and small shops to offer the best loans online according to the credit profile of their customers. Banks and financial institutions compete for granting a loan to the purchaser, which pushes credit cost downwards and improves loan terms. Once the loan is approved and the customer’s identity is validated online, the bank or financial institution delivers the money to the professional or small shop and, in turn, they hand out the goods. Thus, the customer receives the best funding and the shop avoids risk exposure. This service is provided in exchange for a small fee charged to each bank or financial institution that has actually granted a loan.

In this stage, from August 21 to October 31, teams will have the chance to seek the advice of experts and leaders in the IT industry to improve their projects. In November, the ten projects will be presented in an event and three winners will be chosen.

For questions, write to innovacionfinanciera@bcra.gob.ar


First prize: AR$94,000

Second prize: AR$66,000

Third prize: AR$40,000

August 21st, 2018

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