Banking for All

Berlin, Germany

Finance Technologies


#bank4all Taqanu is a financial intermediary that aims to promote the financial inclusion of refugees, newly arrived groups, and other disenfranchised communities in the European community and beyond. We help refugees reclaim a financial identity, and thus to take the first step in being financially safe. Taqanu is creating a method of identity verification that does not require government documentation and instead turns to the layered process of identification based on the digital footprint and real world attestations. With the use of the newly created ID we provide a bank account and bank card for the user that is available from the moment of registration. The newly accessed entry level banking solution is limited, where limits are correlated with the amount of verifiable data in the Identity. Our impact is in giving a much needed fresh start as well as in the development of credit histories and the ability to sign contracts, to otherwise isolated groups so that they escape the margins of society. Successful customer base growth and acquisition of clientele will allow for the creation of a platform to serve organisations with experience in microfinance-oriented lending and credit facility. Depending on the level of adherence of users to prescribed finance regulation, and continued appropriate use of their funds in line with government stipulation; it will be possible for users to access small-scale borrowing to fund their projects and consumption requirements. One of the most pressing issues facing refugees and other disenfranchised people is the lack of valid identification. Legitimate ID is an important means by which refugees can participate in social and economic life. In essence, refugees suffer from the absence of Financial Personhood, due to which they can neither access credit nor create a viable store of household wealth.