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Partner with local NGOs, self-help groups, or women’s organizations to build trust and reach your target audience. Remember, every challenge is an opportunity for innovation. Best of luck with your coding journey, and I hope your app brings positive change to these communities!

You’ve identified an unexplored area. The existing committee system operates offline, and transitioning it to a digital platform could bring significant benefits. Unlike offline systems, a digital solution can scale rapidly, reaching more users across different regions. A digital platform would make it easier for participants to track contributions, loan requests, and repayments. It eliminates the need for physical meetings and paperwork. Convincing users to shift from a familiar offline system to a digital platform may require building trust. Some participants might be hesitant due to lack of familiarity with technology. In rural areas, internet connectivity can be unreliable. Ensuring seamless access to the app or website will be crucial. If your platform operates like a bank, you’ll need to comply with financial regulations. Licensing, KYC (Know Your Customer), and other legal aspects must be considered.

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@Vaishnavi, I am from village and been part of the system long time before.. It created a lot of issues around the community due to high interest rate and people couldn’t run more than a year… More ever, lot of chit companies doing the same in other form. And important thing is most of villages Financial already Contributed by NBFC through Micro/Small loan system and even Banks are started to doing it… Better to have some other idea

Hello mam it's going online with multiple companies microfintech under some private bank and ngo and all

Hi Vaishnavi (nice name), Your idea to penetrate deeper into the rural pockets with digita India sounds great. But, you might get faulty in thinking that there is no market for your idea currently. The problem revolves around Self Help Groups, if I am not wrong. In that case there are very need specific apps that addresses it, like Streenidhi HRMS app, SHG mobile app, livelihood app, etc ... Besides these there are financial management tools aswell, like notion for instance. These apps assists in monitorong an unorganised group's finance (just like your mentioned). Perhaps what you can do differently is invest in ground work and get the target audience's response prior to going into the market. That way you can really cut down on your marketing costs too. Also, you can think of some game changing promotional ideas to spread awareness abt your app among these rural women or urban women. (Ig it was a very lengthy reply!!)

Already local finance company's are do it , they have build Strong Trust in people . If your Idea Works you may get competitors like Slice, Jupiter etc....

Competition and Market Research: While you believe there are no direct competitors, it’s essential to explore related spaces: Existing payment apps (like Paytm, PhonePe, or Google Pay) could indirectly compete if they expand their services to include micro-lending or savings features. Microfinance Institutions (MFIs): These institutions serve similar purposes but often focus on larger loans. However, they might adapt to cater to smaller groups. Keep an eye on government-led financial inclusion programs. They might introduce similar solutions. Investigate community apps or platforms that address financial needs. They might not directly compete but could offer insights. Prioritize user experience. Make the app simple, intuitive, and accessible even for non-tech-savvy users. Conduct workshops or awareness campaigns to educate potential users about the benefits of the digital platform. Start with a small group to test the platform, gather feedback, and refine it before scaling up.