Onpassive building a crowdfunding platform driven by AI, ML
Hyderabad: US-based Onpassive, a provider of predictive and intelligent business automation services, with India head office in Hyderabad, is soon rolling out its crowdfunding platform ‘O-Bless’. It will cater not just to causes but also will provide a platform for startups and innovators to showcase their products and get the much-needed traction to get financial support. Ash Mufareh, founder & CEO, Onpassive tells YV Phani Raj how the crowdfunding platform is being built and the difference it will make. Excerpts-
Phase 1 of the platform O-Bless is built and is ready along with microservice architecture. The pilot project is undergoing tests in the alpha version at present. The product will be available to the larger, broader audience with the launch of multiple Onpassive products shortly.
Need for crowdfunding
As there is a considerable demand for crowdfunding platforms, O-Bless will be beneficial for all users who need funds for various meaningful causes and advanced innovation projects. O-Bless believes in rewards-based crowdfunding, which is the most effective form. There are countries apart from India, like the US, UK, Canada, North America, Europe, Africa, Middle East, and Latin America, where crowdfunding as a platform has picked up well.
The Covid-19 pandemic has triggered the need for raising funds and donations for various healthcare treatments and healthcare innovations. With the current scenario of the significance of healthcare, crowdfunding platforms are emerging as promising sources for raising funds. With the current pandemic, globally, many people need help for various reasons such as medical emergencies to pay hospital bills, support for new business ideas and innovations, and extensive tie-ups with various NGOs to support humanitarian causes.
Ketto, Milaap, Impactguru, Gofundme, Kickstarter, etc., are some of the crowdfunding platforms operating in India. However, amidst the pandemic and spike in healthcare emergencies in India, Onpassive will launch O-Bless, which is in the final stage of development to run campaigns globally and build awareness towards a cause and get funded by the prospective donors. O-Bless offers a helping hand to those seeking financial assistance to pay off their medical bills while creating an opportunity for donors willing to extend their financial support to the needy.
The revenue model of O-Bless is commission-based. Once the campaign is successfully funded, it charges five per cent from the successfully funded amount. O-Bless will be a part of our unique global bouquet of products under the Onpassive umbrella and free to use for all subscribers.
We will have several features incorporated in the application in the coming months. We plan to include artificial intelligence (AI)-based auto-suggestion templates for various causes that help people communicate their exact needs, interactive chat support, and tax exemptions for the people who have donated the funds on the O-Bless platform. We will also use a fraud-detection mechanism driven by AI and machine learning that detects unauthorised campaigns.
The whole point of publishing a campaign is to know the visitors, sign-ups, and entrants that you have achieved with your campaign. This is possible by pulling the list from the database of your tracking tool. If you are tracking where your supporters are coming from, whether or not people from each traffic source are converting on your sign-up page, then you can make on-the-fly improvements to your campaign and get better results overall, rather than just waiting until the campaign is over and then looking at the data.
Realising the hard facts involved in terms of crowdfunding, we have the software, hardware and expertise to provide real-time as well as offline verification of an individual’s identity, backed by a dedicated compliance team. In a worst-case scenario, the complete verified information of the individual is there so that they can be traced if required. We ensure our platform takes on a campaign, and that gets the required verifications done through automated KYC checks in minimum possible time, to be precise, within minutes by implementing machine learning and advanced AI systems to catch documentation fraud, identity theft, real-time aliveness verification, etc.
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This content was originally published here.