hiveonline community finance builds the bridge between informal financial communities and the financial system. We dramatically reduce the cost and risk of lending or other financial services to informal businesses and savings groups like CARE’s VSLA.
Our reputation system treats everyone fairly: borrowers get a score based on their financial behaviour; lenders on their performance and treatment of customers. Groups can borrow as a community.
Poor communications infrastructure, typical in rural Africa, isn’t a problem, because it’s designed for low data use and low connectivity. It runs on any phone with a browser, so users don’t need smartphones. There’s an offline mode for the most remote communities, so they can transact without any connectivity. Fully traceable transactions give confidence to lenders, aid programmes, and investors.
hiveonline unlocks access to affordable credit, insurance and savings for communities in the informal economy.