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Mobile Loan Apps Face Deregistration in CBK Reforms
Central Bank of Kenya (CBK) building in Nairobi.
Simon Kiragu
Kenyans.co.ke
The Central Bank of Kenya has proposed a number of far-reaching reforms that will see it regulate and deregister rogue mobile lenders that have crept into the Kenyan money lending market.
The Central Bank of Kenya (Amendment) Bill of 2020 seeks to regulate mobile loan rates that have seen many Kenyans plunge into huge debts. Data by Metropol Credit Reference Bureau (CRB) revealed that 14,035,718 Kenyans had been blacklisted by January 2021.
Further, the proposed law seeks to weed out unscrupulous lenders who get involved in unethical practices such as money laundering, illegal acquiring of customer s private data, and shaming of defaulted borrowers.
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TAMPA, Fla., April 23, 2021 /PRNewswire/ CIC Credit, a Florida Corporation, has partnered with Talk uments a leader in LEP solutions. Talk uments is a digital tutorial that takes a loan applicant step by step through their specific loan, costs, process, and disclosures. As the first fintech of its kind, Talk uments provides an automated way to provide transactional clarity to the mortgage loan process. The key is how simple the process is for the borrower to show their level of understanding of their specific loan.
We Complete the Digital Loan Experience
CIC Credit Logo
The concept of a digital loan transaction revolves around ease of use, transparency, and a more meaningful experience. Millennials, Gen X and Baby Boomers have adopted the digital world. Talkuments gives consumers what surveys say they want: interactive loan information. Talkuments strengthens confidence in the consumer s choice of lender, leading to more loan origination
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Top countries for launching a Fintech startup 21 April 2021
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In this text, you can find some analytics that may help reveal the sweet spots for business and investment on the world’s map in 2021. Certain regions and countries are friendly to innovation that have millions of users with a high level of tech adoption and expanding fintech market.
How FinTech was doing in 2020
According to the World Bank’s report, based on the survey in summer 2020, there are FinTech companies showed some growth in the first half of 2020 compared month-on-month with 2019. They digital asses exchange businesses, companies in payments, savings,
Ujjivan Small Finance Bank partners with NIRA to provide Personal Loans
Posted On: 2021-04-14 01:01:17 (Time Zone: Arizona, USA)
Ujjivan Small Finance Bank today announced its collaboration with fintech NIRA as part of its strategy of leveraging its API Banking platform for fintech partnerships. This is Ujjivan Small Finance Bank s first Digital Lending partnership with many more on the way. Through this partnership, salaried customers can apply for a Personal Loan by using the NIRA app which is available in the play store.
NIRA is a Bangalore based fintech that helps to fund the salaried class, starting at incomes as low as Rs. 15,000 per month. This partnership will help Ujjivan SFB to on-board customers for Personal Loans.