Q Why would a traditional bank need your software technology? They already are a bank. They already have consumer deposits to lend out. Why don't they just do it themselves?
A As any business, banks, banks need to focus, right? So considering the ticket sizes that our typical customer would, would Ask for, which is around 20,000 dollars. That's the average loan size. So it's, it's quite the small ticket size. We also get requests for all the way down to 500 dollars to do like small, small investments or just bridge working capital challenges from these small businesses for a bank to onboard such a customer is just as costly as onboarding a large corporation that's requiring several million. So It makes sense for them to focus on that group, right? And, and not build for these small micro businesses. Also, I think that what the bank or any traditional lender does is they look for some kind of collateral, uh, for, for the loan. And most of these small businesses lack that they don't own property. They don't own anything that, that could work as collateral. So we have a different approach looking much more at cashflow to, to, Make sure that this business actually can repay the loan.
AI assessment note: “for a bank to onboard such a customer is just as costly”