Onelyst aims to achieve "equal financial access" in Southeast Asia.
Onelyst is about giving an average person the ability to prove his credit worthiness and attain equal financial access.
It is transforming the way the underserved segment are treated by the financial industry in Southeast Asia and accelerating financial inclusion in the region.
Onelyst team has successfully created a transparent ecosystem. It enabled the underserved segment to make informed financial decisions in under 5 minutes. Previously making similar decisions could take few hours to even weeks. "We provided an unique tech based solution to the underbanked segment," Mohamed Abbas said.
The team created a cardless payment solution for the underbanked in the region. "We have enabled this segment to participate in the mainstream financial system by accessing credits and improve their standard of living. These are completely unique solutions that will accelerate financial inclusion," Abbas added.
The startup was created by Mohamed Abbas and Hizam Ismail. Mohamed's father sells ‘Roti Prata’ to make a living. People like his father work very hard and usually long hours to send their children to school and fulfil household expenses.
During emergency like funeral expenses, this segment do not have the emotional state of mind to compare and select the best loan option available even though they need to desperately save those dollars and cents. It is a nightmare to scuttle in and out of hundreds of non-bank lenders offices to make an informed decision. This inspired him and Hizam to make the startup a reality.
The team is currently partnering with e-commerce giants, financial institutions and geographically expanding to other countries in Southeast Asia.
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