As a vote of confidence into Kenya’s maturing economy, TransUnion has launched a mobile credit score card for the Kenyan consumers. Yes, it had to be rolled out on mobile first, given Kenya is a world leader when it comes to mobile money payments, which has since morphed to see the birth of mobile-based lending platforms.
Thanks to the widespread adoption of mobile money, lenders looking to reach the masses are shying away from conventional platforms such as bank accounts to using mobile money wallets such as M-Pesa and Airtel Money.
However, such lenders face a big risk especially when they are just new in the market and have no history on the consumers coming to look for a loan. TransUnion is targeting such lenders with rich-data on the individual consumer sourced from both conventional money-lending platforms such as banks, and across other mobile money platforms.
The mobile credit score will provide lenders a comprehensive risk view of the loans they give via the mobile money platforms. At the same time, TransUnion will spark an interest among Kenyan consumers to become active in the economics dynamics of the …read more
Read more here:: TransUnion launches Mobile Credit Score Card in Kenya