Wednesday, 25 April 2018
The development of things, but not acceptable to all people around the world, there are still some countries that have economic problems, especially in countries that are still in development. Credit services in some of these countries are also still difficult to formalize, some of these lending institutions require users to have certain requirements. Therefore, we created a platform, which we called L-Pesa microfinance.
L-Pesa Microfinance is a digital platform that has brought blocking as a technology, so transactions that occur will certainly be more secure and transparent, which will allow users more comfortable using it. In this case, our Platform will improve people's lives through effective access to credit and the provision of financial services. This is how to make the world a better place for everyone. Our platform is also a new generation of start-up financial technologies, which will certainly be ready to take advantage of the financial services needs in developing countries quickly. The company has confirmed its operating model for the past 24 months and built modern technologies, automating most operations.
How does it work
The L-Pesa model is partly based on trust ladder: users start with minimum loans (usually $ 1.00) and get more significant loans through small loans successfully repaid. The credit score is influenced by other factors, such as completing the identity check. The entire process of obtaining an L-Pesa loan will look like this:
The user registers an account with L-Pesa, often in response to a post in a social network or an SMS message. During L-Pesa, it is expected that many new applications have appealed to us on the recommendation of existing users.
The user adds identity documents, such as a driver's license or passport to an L-Pesa account.
Employees of L-Pesa carry out an automated identity check.
The user sends initial applications for a loan, usually at a local equivalent of 1.00 US dollars. In many cases, this application is automatically approved.
All subsequent requests for credit are treated in the same way: automation based on the user's credit score is the key to success and scale.
After the loan is approved, real-time payment is made using mobile facilities such as M-pesa and tigo Pesa.
The user is given a payment schedule for the loan, according to which he will make regular payments. Repayment is also carried out using mobile money transfers. Overdue payments will affect the credit rating of the user.
Customer support will be provided by the L-Pesa back-office team in Tanzania. User support is available in English and
Swahili through social media channels, e-mail and phone.
The technology of blockchain provides transparency and efficiency, which drastically reduces operating costs, and also makes small viable lending. Forward in the field of artificial intelligence opens up new opportunities for automated underwriting of loans, and new tools allow you to store a huge amount of data.
A unique developed model of lending based on the analysis of social networking client combined with traditional and unconventional credit data necessary for subsequent evaluation and decision making underwriting loans for the client.
Mobile financial services, such as "L-Pesa" has become available in many countries and support both customers of banks and the population by banking services. Based on the penetration of mobile phones (smart phones and conventional phones), mobile money services such as L-Pesa, tigo Pesa, and paytm are already overgrown and included L-Pesa.
A biometric identifier system will lead to a drastic reduction in the cost and ability to provide financial services without a physical branch network.
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