Roadmap update 2020- for a global launch
Dear community members,
We have come a long way and through our global partnerships, we are ready to expand globally step by step. Now we are on an ambitious mission to change banking worldwide. Based on the latest opportunities and market conditions we have decided to scatter the launch into the following order of geographies:
1. India (Unicas)
2. USA
3. UK and Europe
4. Worldwide (Cashfi)
Our updated roadmap will be the following:
December 2020: Indian Market
Key tasks will be:
- Website of Unicas
- Modelling of Unicas branches
- Continue the training of existing United employees
- Marketing roadmap execution of Unicas with a marketing agency
Other tasks:
- Complete the development of CAS integration in the banking platform
- Continue development of the USD banking services
- Release the broker account in the new banking platform
- Hiring and training of operation and support employees in the USA
January 2021: USA Market
- Release of business and personal accounts in the USA market.
- Release the utility of CAS token in the internet banking platform
- Marketing roadmap execution of launch in the USA
- Hiring and training operational and support employees for the European market
February 2021: European Market
- Release of business & personal accounts in the European market.
- Marketing campaign for the launch in the UK and Europe
- Development of foreign exchange services with international money transfer
- Smart contract deployment of Cashaa DeFi (Cashfi)
- Development of CashFi consumer loans
March 2021: Worldwide (Cashfi)
- Release of foreign exchange services for personal and business users
- Release of Cashfi Beta in the Cashaa banking system
- Marketing campaign for Cashfi
- Development of a mobile application for Cashaa
- Development of the virtual cards (Mastercard, Visa, Rupay and Unionpay) generation
The team has made these changes in the roadmap for a smooth release and functioning of accounts considering the following factors.
1. Great market response for Unicas (Cashaa India):
On 27th Oct, we announced our joint venture with United to start branch banking in India with cryptocurrencies. United has received great response resulting in increased enquiries from customers in India. At the same time, Indian media has changed its views about cryptocurrencies after our announcement. From Forbes India, Mint, India TV, NDTV till regional newspapers is making us synonyms for Crypto in India.
We decide to fully capitalize this opportunity in India and hence most of our existing resources will be busy in supporting the launch of Unicas. Please find the list of media in India who covered this news: https://bit.ly/3kMCNPf
2. Unavailability of great Customer Support (Retail):
We are a young start-up working hard to bank underbanked users around the world. For the past year, our existing competencies have been handling business customers. Retail is a new business and we still have to build strong operational competencies within the company.
Our plan was to work with companies who are providing support to other fintech in Europe. However, now that the UK and Europe are entering into the second phase of COVID lockdown, the support centres will not be able to work as we had expected. Hence, we have decided to take a different approach to ensure our clients receive the best service possible.
Management has decided to build a team for operations and support for the upcoming retail unit in Gurgaon, India. We have selected this location as this city is home of the support and operation centre of multiple financial brands serving the European and USA markets such as Barclays, American Express, Bank of America, CitiGroup and many more. This will help us to easily acquire staff who are experienced and have the required skill set to provide quality support.
The retail support centre will open in December and we expect it will be ready to start providing support from the beginning of January.
3. Technical development status:
We are working together with our existing business customers to streamline the experience of our internet banking platform.
Personal accounts (GBP and EUR): We are experiencing some delays from one of our UK partners regulated by the FCA. We expected some functional features to be delivered by them on 13th November to automate onboarding. They are working hard to deliver the functionality needed however we have not received a clear deadline.
Business and retail accounts (USD): Integration is progressing well, we have had some minor delays from the team delivering our automated API for Fedwire and SWIFT, which is routed through JP Morgan, however, it will not impact the release of our USD accounts for business or personal.
The Cashaa Team
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