[dropcap]O[/dropcap]gilvy is forming the first ever mobile ATM network called Blink. The idea has already won a gold innovation award from Latin American awards festival El Ojo de Iberoamérica. It has also made a fundraising contract from a fintech accelerator ahead of its launch in October.
In Bolivia, there are only 27 ATMs for every 100k people. More sad part is, the ATMs are only accessible to the privileged society. Even the most convenient ATM booth is apparently 30 blocks away according to one of the inhabitants of Bolivia.
Blink is an initiative by Ogilvy Bolivia to breach this gap. So that, people can get access to ATM through their phone easily and within seconds.
So, how Blink can help?
See, people without ATM facilities need cash and taxi drivers have raw cash from their fare collection. So, whenever someone without the ATM facility needs cash, he/she just needs to request cash through the Blink App. The nearest cab driver who has that amount of cash with them will accept the request and deliver the cash to the user. After delivering the cash, a code will generate for the driver through which he can withdraw the exact amount cash with a commission from a convenient ATM booth.
Sounds familiar? Yes, Ogilvy has taken a move from UBERs game-play and is about to start their own league. But what a brilliant idea it is! Can it hit the billion? Who knows!
Ogilvy Bolivia CEO and chief creative officer Henry Medina said the idea of Blink started to expand the need of ATM network. The final release of Blink is all set for this year’s October.
The number of ATMs has been slowing down over the years in Bolivia. Blink converts 700000 taxis and this is the first mobile ATM network in the world. Bolivian Banking Association’s President Marcelo Trigo thinks Blink is a wonderful initiative. It will change the lives of many people through financial inclusion.
Well, are you excited about the first ever mobile ATM network? As we are damn excited to see what happens next!