As a sustainable micro finance organization PCCL always looks for ways on how to improve the living standards of deprived communities. The development of the eco system of PCCL is done as a result of that intention. The services that offer as part of this eco system would be able to contribute hugely to get the underprivileged communities to the global economy and eliminate poverty.
Remittance is one of the services of PCCL eco system. Remittance is about migrant workers doing peer to peer transactions with their relatives living in their home country. Traditionally, remittances are done using ATMs and banks which have inefficiency as well as ineffectiveness. As a sustainable micro finance provider which always tries to find ways to provide services in a way that makes their clients lives easier, facilitating the remittance through i lender app as part of PCCL’s eco system. PCCL believes that receiving money on time in a secure manner would make huge change of the lives of people as it makes them to fulfill their financial needs without a delay. The remittance options provided by the PCCL runs on the decentralized block chain platform ensures a secure, quicker, transparent of their transaction procedure. Moreover it avoids the need of the involvement of middleman, documentations etc that reduces the remittance fee by 50% compared to the conventional remittance methods and offer many other benefits.
Another service of the eco system of PCCL is bill payment that accelerate the process of bill payment transactions in a way that makes it to do far more conveniently. The conventional modes of bill payments such as cash, cheques, mobile, credit and debit cards have many draw backs due to the inefficiency and ineffectiveness. As a result of the concern of improving the lives of clients, PCCL developed this option of enabling to do bill payments via i lender app. This i lender app not only facilitates to do normal payments but also has given the option to do the utility bill payments such as water , rent, electricity, insurance, loan installments , health care etc . This payment method makes the transactions transparent, fraud free, secure, time and cost effective with no involvement of any third parties such as banks as this bill payment process being done based on block chain platform. By enabling to do on time payments without any hassels enables people to get the day to day services unbreakably making their lives easier.
Insurance is one of the services of PCCL eco system which is being developed with the intention to recover the loans effectively or in other words insurance is exists as a mode of protection of micro loans. By having this insurance PCCL would be able to recover the loan at a time when the borrowers are unable to repay the loan. Due to the worldwide expansion of the PCCL operations, the risk of not recovering the loans is also increases. This insurance ensures the recovery as PCCL will be signing agreements with insurance service providers in each country that we provide services in incidents where borrowers couldn’t repay the loan. The process would be further efficient by facilitating the option of applying for the insurance via the app.
Saving is a vital habit that everyone needs to maintain in order to ensure the financial security in the future as future is not predictable. Since PCCL always gives priority to the sustainability, getting their clients to have a saving is one of the components of their goals. As a result of that PCCL has made a saving a compulsory requirement to be eligible in order to obtain a PCCL loan. The effectiveness of this process has been further up scaled via the eco system of PCCL as it enables people to maintain their savings using i lender app that is being operated based on the revolutionary block chain platform. PCCL clients get that opportunity to check the balance of their savings via this app with many other benefits. Since this saving process is being operated on the blockchain, which makes sure security of the savings due to the untampered nature while being transparent, quicker, independent etc.
Intention of E- commerce trading of the PCCLs eco systems is to bring the local entrepreneurs businesses global. This allows the local clients to do business beyond boundaries via i lender app that is being operated based on the block chain platform. PCCLs aim is to improve the economic standards of the local economy by getting more demand for local products from the global market. As this process being done via the app on block chain platform it ensures the high efficiency, transparent, fraud free at an affordable fee. Furthermore this streamlines and eliminates the complications that are attached with traditional methods of E- commerce as this option avoids the need of third party involvements and documentations.
As a conclusion this range of services of PCCL eco system enables the deprived communities to uplift their living standards by receiving effective and efficient services via the i lender app with the support of block chain.
By Sayuri Willorage