Banking4U

IDEA

Built a platform that uses a customer’s mobile money transaction data to determine loan eligibility. The customer is rated and scored to determine the amount they can qualify for, if any, using different scoring models.

Different financial institutions that are connected to Finastra will be able to use different scoring criteria to rate the customer and these institutions can give loans against cash flow. Multiple data sources can be used e.g Mpesa and CRB
It is a scalable model for banks to customize their lending.

BENEFITS

• Encourage cashless transactions
• Risk-based lending -different loan amounts at different interest rates based on risk profile.
• Single point of access for financial institutions that are connected to Finastra
• Can be used by financial institutions to identify potential customers
• Uses mobile phones as initiation points for loans

TARGET

• Small business Owners
• Individuals