Tunis, November 10, 2021 – To celebrate one year since the launch of its payment application Flouci, the Tunisian startup Kaoun organized an event at the digital innovation Hub The Dot to present the latest product release, with new features for individuals and businesses.
This new release marks the beginning of the public experimentation phase of an innovative customer onboarding process, 100% digital via smartphone. This process has been approved by the regulatory sandbox of the Central Bank of Tunisia.
The sandbox is a new initiative by the Central Bank of Tunisia aiming to work closely with innovative startups and evolving the regulatory framework based on real data. Kaoun is part of the first cohort, and has worked on an e-KYC (Know Your Customer) process to open free bank accounts without physical presence for the unbanked and underbanked. This is using a proprietary process to replace its current video interviews with banking agents with an automated liveness challenge and other algorithmic checks. The goal is to reduce the processing times for most clients and help open fully compliant bank accounts and mobile money wallets in a few minutes.
“The national decashing strategy first starts with providing better payment tools, suited for the needs of the target populations currently excluded from these services and forced to work in the informal sector and to only use cash.” says Anis Kallel, the cofounder and CTO of Flouci. “We realized that facilitating access to financial services with a 100% free banking offer opened remotely and in under an hour can help contribute to that, on top of the transfer and payment functionalities integrated with Flouci. We would like, through this collaboration with the Central Bank of Tunisia, to allow every financial institution to use this technology, and reduce the cost and time of access to essential financial services. The technology allows it, and the regulations will make it possible at scale.”
This product update creates a new banking experience and supports new financial services that are accessible via smartphone and web apps to individuals and businesses. The live launch event is available on Flouci’s Facebook page.
The detailed list of new functionalities available on Flouci is available in the release notes.
The link to download Flouci: https://onelink.to/flouci
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