With them, more than 50 million people will be able to participate in the American banking system, closing the gap in financial mobility and social inequality.
Mobility Capital Finance, Inc., also known as MoCaFi, is a MWBE certified digital banking platform with the objective of building a financial ecosystem for unbanked and underbanked communities in the United States.
With them, more than 50 million people will be able to participate in the American banking system, closing the gap in financial mobility and social inequality.
Wole Coaxum, founder and CEO of MoCaFi, explained that they wanted to offer their customers a service that integrates with public administration on a municipal level. This, with the objective of giving access to financial and banking resources to African and Latin American communities that do not have them, while also serving as a form of identification that allows them to show that they are citizens of those municipalities all across the United States. However, this initiative would be tested first in Detroit, Michigan.
With this system, underbanked and unbanked communities within Detroit and the rest of the United States can fill out their information and finally be integrated into the banking system smoothly and safely.
We had two main objectives: first, create an HTTPS based web portal for the employees in charge of collecting individual information. Second, develop an administrative portal that allows them to manage every step of the registration process, like use policies and privileges, information settings, all the received, rejected and approved applicants, and other features.
We made sure that the app was scalable beyond the pilot test in Detroit. This, by making a flexible back-end matrix to customize the app based on the legislative needs of each state.
With our help, the company was able to: