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Google says its flood prediction service, which uses machine learning to identify areas of land prone to flooding and alert users before the waters arrive, now covers all of India and has expanded to parts of Bangladesh as well. In June, it hit the milestone of covering all the worst flood-hit areas of India.
Fairbanc was founded in 2019 by Wharton-graduate Mir Haque, who first piloted the startup in Bangladesh before choosing Indonesia as its main market. Haque was born in Bangladesh and described it to TechCrunch as “the birthplace of micro-finance.”
For example, I'm planning on going to India and Bangladesh next month for the first time, and to Uganda and Sudan next year. Under our new CTO, Patrick Ball (see my last President's letter), we are building a tech team to work on our incredibly varied list of projects in literacy, human rights and the environment.
The startup also regularly conducts financial literacy campaigns. Depending on a customer’s risk profile, Bfree either directs them to a self-service platform, where borrowers set new payment plans using their phone number, or follows up on debt balance through automated communication (chatbots, callbots or IVR technology) or direct calls.
There are digital literacy trainings for women springing up in Bangladesh, Internet cafés for women opening doors in Argentina, and women leaders in Kenya prototyping mobile apps that send out alerts if a woman’s safety is threatened. That’s just the beginning.
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