Hi All
I am looking past the Covid19 phase already and seeing there will be some grave implications for savings and contributions
1. A lot of people were caught off guard and had little savings.
2. Some due to the nature of their work
3. For some that had these contributions in place, they had serious difficulty accessing these funds
4. Business also boomed for some during this period especially those in food and beverages sectors, they also became cash intensive
5. For some, they needed small loans and could not access these funds
My thoughts are that most of the systems that were in place pre-Covid19 will no longer suffice going forward. Anyone who can come up with an electronic platform integrated with a bank, using some form of re-loadable cards (instant loading cards), can have an administrator in a co-oprative or society, credit their accounts with a loan they can track and easily pay back. I believe many of these would be snapped up by banks and insurance houses. But in essence, there is also first mover advantage in this sector. Just an idea!
Lets have your views, it may just help someone shape a completely better idea!!
