Banking apps and internet banking services are a lifesaver; imagine having to head to a bank for every little transaction. It can get pretty frustrating right? And the bad thing is that it's not everywhere there is an atm or a bank. Most rural areas don't have banks or atm and have to journey to towns to withdraw as little as N2000-N10,000, spending N200 upwards in the process. What if there was a way to get little cash withdrawals without having to spend much to get to an atm. Now imagine never having to go your bank and spend this excesses; this is exactly what KREDIT is offering.

KREDIT (proposed solution), offers customers a fully digital financial and banking experience. So, all that is required to open and run and withdraw money from your bank account is an internet connected device.

Our mission is to allow you withdraw money (cash) anywhere without having to visit a bank. All you have to do is request for an amount and pick up from a cash point (which could be any supermarket, kiosk, restaurant, etc). With Kredit people in rural communities don't need to bother themselves about transporting themselves to the nearest atm, or worry about the queues in the atm. Kredit improves cash distribution and liquidity management by creating the largest cash network in the world powered by mobile devices. The goal is to convert every shop and customer into a virtual cash distribution network and is starting in Nigeria. We want to make cash circulation more efficient by deconstructing the expensive cash logistics supply and ATM networks globally.

To withdraw cash, users simply need to place an order on the Kredit's app, select a cashpoint nearby and pick up the cash at the outlet. For each transaction, Kredit takes N50 (15 Naira less from what the atm charges).

We're still working on the whole idea but we would really love to get your honest opinion. What do you think about the idea? Can this help solve the problem of access to financial service and cash withdrawal in rural communities in Nigeria. Ideas needed. Send feedback