Bank Zero’s advanced system ensures zeros add up to more jobs
Bank Zero has launched a custom, cost-effective commercial banking solution for community-focused business Green Riders.
Green Riders is a two-time Earth Shot Prize nominee and provides thousands of youths with access to sponsored e-bikes that can be used to become last-mile delivery riders.
This helps these young people become micro-entrepreneurs who, over time, can earn ownership of their e-bike.
They can then continue developing their delivery riding business in a sustainable and profitable way, providing for their families and contributing to their local economies.
How Bank Zero helped
To enable its offerings, Green Riders required a customisable commercial banking solution – and it came up empty after searching the traditional banking industry.
However, it found a suitable partner in Bank Zero – who believed in Green Riders’ vision and could provide a suitable and seamless banking solution that met Green Riders’ requirements.
“The benefits, functionality and outstanding support we have been receiving over the past 6 months have been exceptional,” explains Richard Clarke, Executive Chairperson of Green Riders.
Yatin Narsai, CEO of Bank Zero, explained that Green Riders’ noble goals would not be easy when working with traditional banks – where banking costs and complexities drain valuable resources.
However, Bank Zero – with its flexible business model and innovative banking system – was perfectly positioned to solve this challenge for Green Riders.
Bank Zero leveraged its cutting-edge banking system to develop bespoke functionality for both Green Riders and their drivers.
The solution also empowered their finance team to easily do general ledger (GL) processing.
“My CFO is addicted to the detailed spreadsheets that streamline our GL processing. No other bank does this,” said Richard.
Yatin said it is hugely rewarding to see Bank Zero’s zero-fee digital banking services contribute to growing the South African economy by supporting small and micro enterprises.
“We’re delighted to support a business that creates sustainable opportunities for young South Africans to start earning a proper income while giving them access to banking services that can help them save and grow their business, leading to a more prosperous future,” said Yatin.
The Bank Zero difference
Bank Zero is always excited to work on projects like these because the same flexible and effective system used for Green Riders can be repurposed by Bank Zero to customise solutions for its other business customers, too.
By building this customised system in-house, Bank Zero can keep its pricing for basic banking services at zero – a key differentiator for the digital bank.
“While we remain pragmatic about the services we can cost-effectively offer, our focus on pioneering disruptive change to transform the banking game for consumers and businesses remains firmly in place,” said Yatin.
Click here to learn more about Bank Zero.
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