The Banking on Things (BoT) is a vision, a mission

We have embarked on an initiative to create a new tech-powered financial solution, to serve the underbanked and financially uninformed individuals or cooperatives in this rapidly growing African economy. We believe that this will work in Africa, and ultimately in the rest of the world - since we will be aiding to increase financial inclusion.

Through using theories of collective intelligence and methods of artificial intelligence, The Banking on Things Global Initiative aims to norm and develop a Digital Open-collaborative Platform that will enable rural populations to access formal financial institutions by creating their own virtual community banks.

Bringing together People and Computers

An intelligent network of cloud computers that instanciate primary functions of a bank

The scarcity of the right skills and the lack of access to talent required to create and operate a community-oriented virtual bank would stop many under-served communities or cooperatives to own a community bank or a credit union. So as part of our mission, we are working together to design a cost-effective solution to empower these communities. Rapidly growing penetration of internet and mobile phone, advanced mathematical and statistical knowledge, and machine learning feats are being exploited to spread digital dividents to all communities.

Collaboration and participation to decision-making through real-option interventions

At the time when banking industry needs to digitize core processes, minimize manual interventions and create better customer experience, we're working to enable members of virtual community banks (VCB) to participate collectively in decision-making that define main characteristics of services provided by their VCB. Artifical intelligence (AI) has been put to better use to transfer bankers' roles to intelligent internet objects (IIO) called "Things". Customers will access real-options in real time to participate in decision-making and collaborate with other members.



Projects and Research

Developing norms of Banking on Things

The project's members conduct research and work together to create norms and document Banking on Things. We're aiming to make BoT more accessible and very effective to all communities- in developing and developed economies.

Developing an open platform of BoT

In this project, members are working to develop, deploy and maintain the first Banking on Things open platform that will allow cooperatives and communities from around the world to create a virtual community bank.

About Banking on Things Global Initiative

Our mission
The Banking on Things Global Initiate brings together financial and ICT experts to develop norms of Banking on Things and to develop a Banking on Things platform. Our mission is to develop a solution that will enable communities or cooperatives to create their own virtual community banks with a very low capital.
Our strategy
We are relying on new theories of collective intelligence and machine learning to create an environnement wherein people and computers collaborate to delivery same financial services as traditional banks.
Our Priority
Of course, emphasis is placed on communities with low-income and communities that don't have talent and skill required to manage a community banks or a credit union.

Get In Touch

If you are interested in contributing, please drop us message below or mail us at info@bankingonthings.org

  • Address

    44 Stanley Ave, Milpark
    Johannesburg, 2092
    South Africa

  • Phone

    +27-10-500-6264 (x)

  • Email

    info@bankingonthings.org