Nigeria - Startup under 3 years old

Describe your project or startup in a few words

Telneting is an AI company that helps consumers analyze spending patterns and provide personalized recommendations for smarter business and personal financial decisions.

01.01 Describe your startup in more detail

Telneting is an AI-powered assistant that helps individuals and businesses manage their daily activities, from simplifying finance budgeting and expense tracking to scheduling bills and todos and automating workflows, Telneting offers a comprehensive platform that streamlines tasks and enhances productivity, enabling smarter financial and operational management. Some of our products include: Predictive Financial Insights Bill Payments Expense Tracking Virtual Accounts Currency Conversions Payments Scheduling and Automation Virtual Expense Cards

01.02 What is the main problem you are trying to solve?

Nigerians struggle with a fragmented bill payment landscape and a lack of integrated financial management tools. This leads to several challenges: Disorganized Finances: People and businesses rely on numerous apps and websites, making bill payment and expense tracking cumbersome and time-consuming. Uncontrolled Spending: The absence of proper budgeting and spending insights makes it difficult to monitor expenses and avoid overspending. Missed Payments and Late Fees: Without automated reminders and scheduling, individuals and businesses risk missing due dates and incurring late fees. Lack of Financial Awareness: The inability to track expenses effectively hinders users from understanding their spending patterns and making informed financial decisions.

01.03 Tell us the major benefits and/or advantages of using the product/service that your startup provides (at least 3).

Telneting aligns with several Sustainable Development Goals (SDGs) such as SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth), SDG 9, SDG 10 and SDG 10 by promoting financial inclusion, economic growth, and sustainable practices. Here are more benefits and advantages of using our products and services: 1. All in One Solution: Unlike our competitors who focus on specific aspects of financial management or payment processing, Telneting offers an all-in-one platform that integrates finance budgeting, expense tracking, payment scheduling, and workflow automation, catering to both individuals and businesses. 2. AI-Powered Assistance: Telneting stands out with its AI-powered assistant that delivers personalized insights and recommendations, enhancing user experience and outcomes. 3. Flexibility and Scalability: Telneting offers flexibility and scalability to accommodate the diverse needs of our users, from individuals managing personal finances to businesses of all sizes.

01.04 Please describe who exactly your startup’s product/service is aimed at serving. Who are the targeted beneficiaries?

We aim to serve: 1. Individuals such as Working Professionals, Freelancers and Gig Workers and Students who are looking for budgeting, expense tracking, and automated bills to manage their personal finances, irregular incomes, track expenses and plan for taxes efficiently. 2. Businesses such as Small and Medium Enterprises (SMEs), Startups and Freelancers and Consultants who seek comprehensive financial management solutions to generate invoice manage cash flow, budget effectively, automate bills and payments, track expenses and gain financial insights for decision-making. Our targeted beneficiaries are: 1. Individuals and businesses comfortable with using technology to manage their financial activities and looking for AI-driven insights and automation. 2. Individuals and businesses who require efficient, automated solutions to save time, reduce the effort spent on financial management and improve their financial health and achieve their financial plans.

01.05 When was your company established?

2022-09-05

01.06 Are you already selling your product/service?

Yes

01.07 How many other owners are there within your startup?

3

01.08 Among the other owners, how many are female?

1

01.09 Please describe the profile of the other owners within your startup (skills, experience, etc.)

Victor Akinode - Male, Full-time He is the CEO of Telneting with extensive experience as a Software Engineer and Cyber Security Consultant at KPMG Nigeria and has worked as an AI Researcher at Masakhane, Germany. He has a background in multiple fintech companies and he is a 2x founder. Yosola Oke, MBA - COO (Female, Full-time) Yosola Oke is the Chief Operating Officer (COO) of Telneting. She is a 2x founder and a finance and operations expert. Yosola has also worked at Amazon. She has served as a consultant, helping numerous businesses turn their dreams into actionable realities. Yosola holds MBA and MFIN) from Penn State University. Habeeb Ajide - CTO (Male, Full-time) He is the Chief Technology Officer (CTO) of Telneting. He has over 8 years of experience in developing customer-centric software solutions. Habeeb has worked as a software engineer for notable Nigerian banks such as Fidelity Bank and St

01.10 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link(s) here:

https://telneting.com

01.11 Which industry best describes your project?

g) Financial services

02.01.01 My startup contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification for my startup

By offering tools for budgeting and expense tracking, Telneting helps individuals and businesses better manage their finances, reducing the risk of falling into poverty.

02.02.01 My startup contributes to the Zero hunger goal

4

02.02.02 Zero hunger - Justification for my startup

By providing affordable and accessible financial management tools, Telneting helps low-income individuals and small businesses better manage their finances, which can lead to more stability and the ability to allocate resources towards food and other essentials.

02.03.01 My startup contributes to the Good health and well-being goal

4

02.03.02 Good health and well-being - Justification for my startup

By providing tools for budgeting and financial planning, Telneting helps users set aside funds for emergencies, including health-related crises. This financial cushion can be crucial for accessing timely medical care.

02.04.01 My startup contributes to the Quality education goal

6

02.04.02 Quality education - Justification for my startup

Our platform helps families and individuals create and manage budgets specifically for educational expenses, making it easier to allocate funds for schooling, books, supplies, and other learning materials.

02.05.01 My startup contributes to the Gender equality goal

7 - Strongly Agree

02.05.02 Gender equality - Justification for my startup

Telneting actively supports and promotes women-owned businesses by providing them with the tools needed to manage their finances efficiently. This includes payment processing, expense tracking, and financial reporting.

02.06.01 My startup contributes to the Clean water and sanitation goal

3

02.06.02 Clean water and sanitation - Justification for my startup

Telneting provides streamlined payment solutions for water utility bills, making it easier for users to pay for water services on time and avoid disconnection.

02.07.01 My startup contributes to the Affordable and clean energy goal

5

02.07.02 Affordable and clean energy - Justification for my startup

Telneting provides streamlined payment solutions for energy utility bills, making it easier for users to pay for clean energy services on time and avoid disconnection.

02.08.01 My startup contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification for my startup

Telneting supports economic growth by improving productivity and efficiency through workflow automation, enabling businesses to create more job opportunities and enhance workforce capabilities.

02.09.01 My startup contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification for my startup

Telneting fosters innovation by leveraging AI technology to develop advanced financial and operational management solutions, contributing to the development of sustainable infrastructure and industries.

02.10.01 My startup contributes to the Reduced inequalities goal

7 - Strongly Agree

02.10.02 Reduced inequalities - Justification for my startup

Telneting contributes to SDG 10 (Reduced Inequalities) by leveraging its financial technology platform to promote financial inclusion, equitable access to financial services, and economic opportunities for marginalized communities.

02.11.01 My startup contributes to the Sustainable cities and communities goal

4

02.11.02 Sustainable cities and communities - Justification for my startup

Telneting provides accessible financial services to urban residents, including those in informal settlements, helping to integrate them into the formal economy. It also offers digital banking solutions that are easily accessible via mobile devices, ensuring that all urban residents can manage their finances efficiently.

02.12.01 My startup contributes to the Responsible consumption and production goal

5

02.12.02 Responsible consumption and production - Justification for my startup

By offering digital financial services, Telneting reduces the need for paper-based transactions, contributing to lower resource consumption and waste.

02.13.01 My startup contributes to the Climate action goal

4

02.13.02 Climate action - Justification for my startup

N/A

02.14.01 My startup contributes to the Life below water goal

3

02.14.02 Life below water - Justification for my startup

N/A

02.15.01 My startup contributes to the Life on land goal

3

02.15.02 Life on land - Justification for my startup

N/A

02.16.01 My startup contributes to the Peace Justice and Strong Institutions goal

3

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

N/A

02.17.01 My startup contributes to the Partnerships for the goal

7 - Strongly Agree

02.17.02 Partnerships for the goal - Justification for my startup

Telneting partners with banks, microfinance institutions, and fintech companies to expand access to financial services globally, ensuring that underserved communities are included in the financial ecosystem.

06.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

6

06.02 The product/service represents an entirely new type of product/service.

6

06.03 The product/service could be described as a new technology.

5

06.04 The product/service is an improvement on an existing product or service.

7 - Strongly Agree

06.05 The product/service could be described as an extension of a range of products or services.

6

06.06 The product/service responds to a demand or need that has not been satisfied by other products/services.

7 - Strongly Agree

06.07 The product/service is a new version of an old product/service.

4

06.08 Justification for my startup

Many customers currently use multiple applications for managing their finances, making payments, and tracking expenses and the widespread use of various financial tools indicates a significant demand for such services, validating the market potential for our integrated solution. The presence of similar services confirms the need for financial management tools, and our goal is to offer a superior, consolidated experience. Telneting uniquely integrates multiple financial management tools into a single AI-powered platform, which is unprecedented in the market. Our AI assistant offers predictive financial insights, automated workflows, and personalized budgeting recommendations, setting us apart from existing services. Unlike fragmented solutions, Telneting provides a holistic approach to financial management, representing a new type of comprehensive service. Users have expressed the need for a single platform to manage all their financial activities, a demand not fully met by current solu

06.09 Competitive Analysis

Our Competitors are: Chipper Cash Flex Finance What makes us stand out from our competitors: 1. Comprehensive Solution: Unlike our competitors who focus on specific aspects of financial management or payment processing, Telneting offers an all-in-one platform that integrates finance budgeting, expense tracking, payment scheduling, and workflow automation, catering to both individuals and businesses. 2. AI-Powered Assistance: Telneting stands out with its AI-powered assistant that delivers personalized insights and recommendations, enhancing user experience and outcomes. 3. Flexibility and Scalability: Telneting offers flexibility and scalability to accommodate the diverse needs of our users, from individuals managing personal finances to businesses of all sizes.

11.05 Are you initiating actions within your community to promote the role of female entrepreneurs?

No.