Digital Innovation Loan Application Significance

Question: Discuss about theDigital Innovationfor Loan Application Significance. Answer: Digital Innovation My Digital Idea: A loan application that can be installed on an Android phone or any electronic machine like a laptop to help in aloan application in case a need arises. My target audience is those in emergency situations and might need a quick loan. Description of the Digital Idea The loan application significance is to help individuals who need quick or emergency loans. As I came up with the idea, I had realized that sometimes human beings are caught up by problems at unexpected times. The target audience can download the application to any Android phone or electronic machine and follow the necessary instructions (Leung, 2014: 32). When filling in the instructions, I made sure that there is an option where one chooses the most convenient mode of money transfer. With this idea in mind, I came up with up with several sources of revenue. I had savings which will act as a foundation for the implementation of the idea. Equally, I will borrow a loan from one of the banks that offers loans at a very low interest rate (Wyre?bek Wydawnic, 2013: 15). Starting the idea comes with agreat costs since I have to take up a loan to supplement my savings. For the idea to thrive, I will open an office and create a customer care desk to assist customers who have questions regarding the idea. A unique thing about the idea is that it is available to anyone who can access the app through the phone or any other relevant electronic gadget. The main activity with the idea is only assessing the application and filling in the profile as per instructions. After I have made profit, I will fund the idea to become a great innovation(Innovation in business, 2013). Similarly, I will ask for funds from various organizations that support startup companies. List of References Leung, L. (2014) Digital Experience Design: Ideas, Industries, Interaction, Bristol, U.K.: Intellect. Wyre?bek, H., Wydawnictwo., U. P.-H. (2013) Innovation In Business, Siedlce: Siedlce University of Natural Sciences and Humanities Publishing House.