founder Prashant had a vision to provide financial control to individuals within a low-cost, secure banking environment. financial control is one of the most essential factors to any individual – it epitomises survival and security.

first revisited the banking mechanism design with its end-to-end payment facilitation process. Opportunites were then clearly identified to build a solution named VAZA (Sanskrit meaning: controlling power). These were:

• To reach the unbanked market,
  
• To reduce high transaction/banking fees,
  
• To prevent any form of cyber crime (it continues to increase at an approximate rate of 300% per quarter),
  
• To alleviate the risk of cyber crime for the under-privileged to whom these are unbeknownwhen opening a mobile banking account (They are left with a false sense of security with regards to the safety of their funds).

designed VAZA after studying the language, education and literacy levels of the unbanked market, the current electronic payment infrastructure, and the current methods of cyber security and technology. All these elements were incorporated into a most simple, secure and sustainable product offering.

built a solution that could be deployed on any platform ranging from mobile phone to desktop and on any operating system ranging from iOS to Symbian. The solution is capable to manage both online and offline transactions so that it was viable to market it to a wide range of entities – from street vendor to large corporations.

produced the above simple product based on a technology and process re-engineering methodology to meet its objective to provide a low-cost yet secure banking environment.

acts as a virtual wallet, payment gateway and trading platform.

meets urban and rural banking needs.

gives control over funds paid or received without third-party involvement.

manages real-time settlement.

allows funds transfer to be made and received from any device.

keeps you informed on your current financial status.

is simple and user-friendly.

is accessible to all, meeting all language and literacy requirements.

is encrypted using AES standards.

has a unique, secure and swift communication network.

can be installed on any device and operating system.

can manage online and offline transactions.

is versatile and can be integrated with any system.

provides a secure service at a most economical rate.