The financial management systems in the country are archaic and the launch of Sole Fiji could be a major game changer.
While speaking during the third Tavioka Talk Symposium, chair and founder of Software Factory Semi Tukana, said the financial management system would help the farmers, SMEs, or any individual.
“Sole Fiji is a proposed new company that we hope to register next month on February 21, it’s a company and it will be powered by a system behind it which is called Cloudsaver Social which is a social financial networking platform,” he said.
“The reason we want to come up with this is that what will you do with the money you get from your farm produce or how will you manage your finances as you do your farming and that is the whole motivation behind Sole Fiji or developing the Cloudsaver Social financial network platform.”
Mr Tukana said he was not marketing sole as software developed by his company but the impact it would have on the public.
Sole Fiji would allow a sustainable wealth creation not only for Fiji but the whole Pacific region and beyond.
The founder added issues such as no existing savings, no business governance structures, no financial management mindset no long-term goals no financial tracking and audit and no access to funding from banks.
“That’s the challenges we are facing as tavioka farmers, ginger farmers, dalo farmers but we have a great opportunity and strength that we have identified because we are a burden to the existing banking structures.”
Sole Fiji was said to be taking advantage of crowd sourcing, shared economy, self-service and fully automated hybrid hosting.
“We’ll host on the cloud and we host on the site, totally cashless and worldwide access for sole to be ready to accommodate self-authenticated currency.
“The major benefits I can see for the tavioka growers is that it will manage your finances for you, it will build your savings, moving our farmers from the informal sector to the formal sector.
“We are trying to make them move into a position where they can transact money.
“Purchases and sales, this is a major benefit for the tavioka growers and lifting the quality of life for Pacific Islanders.”
Sole Fiji was said to be a personal resources financing management system, which would allow anyone or any group to start their own informal social group.
