Building for freedom

Financial services should be liberating in principle. They should be widely available, fair, and profitable. In practice, however, this is hard to achieve as providers can only focus on two of the three goals and never all three.

It is possible to provide fair and profitable services, but only to a small segment of the population who can pay; it is also possible to provide profitable service to a large population, but only on exploitative terms; or it is possible to provide fair services to a large population, but not at a profit. In financial inclusion jargon this is sometimes called the Financial Inclusion Trilemma.

The idea that you cannot solve all three is not a failure of the financial systems per se, it’s the evidence that the financial systems are working. However, the problem of financially including large masses remains a challenge; the solution to which we hope to contribute.

Nobuk is a payments reconciliation company that enables communities to manage their collection processes more seamlessly. As a reconciliation company, we provide meaningful interaction interfaces for group members and organizers to interact with any financial service more naturally while at the same time standardizing payments for their financial partners.

The reconciliation layer for the user is more of an experience layer. Communities contribute a lot towards the welfare and development of members. These initiatives vary in complexity and nuances making it difficult for traditional financial partners to fully cater for them profitably.

Take for instance a community of estate residents, they will probably be paying some monthly fees for services, security and the like and from time to time will probably be contributing to welfare for members or appreciation for some of the staff. Financial service providers build for mass usage and ad-hoc cases present a challenge for them to build. The consequence is that these communities accumulate different diverse tools to manage these different contributions scattering their data over multiple tools and making it hard for the treasurers to keep track.

And this is the main reason why we built nobuk. To be a soft configurable interface standardizing how communities interact financially and giving these communities the freedom and choice to plug in any financial provider without changing how the members interact. We created nobuk so your community has more control and flexibility to design how they want their financial experience to flow.

Do they want to invest in the market? No problem. Do you want to save to the bank? No problem. Do you want to contribute to multiple items at the same time? Or pay your sacco insurance? no problem. Do you want your full statement even though you switched financial partners? No problem. Organizer designs how their community collects and accounts for funds and we enable it.

Check us out to see the many different ways we can enable any community you belong to achieve more, with less.