The future of banking in kenya - Mobile Loans

[RV Pundit]

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"The number and value of mobile loan approvals have been rising from 4 million in March 2015 to about 9 million in  June 2016.The value of loan approvals rose from Ksh 7B ($70M) in March 2015 to between Ksh 33B ($330M) in June 2016 and Ksh 34 billion ($340M) in March  2017"

[hk]

This is going to be big .Banks have diversified to avoid rate caps and also its cheaper to process and deliver. Equity leads on this followed by coop. The two banks don't have to rely on Mpesa unlike KCB.

[RV Pundit]

Yes - and even no banks - like Tala & Branch - and others are starting to get financing - 7B & 6B respectively - mobile loans are already more than 1billion dollars - and it's just getting started. I know the cap for most now is 50K - but I see a future where that will move to even 1M - un-secured loan direct from your phone. It cheaper for the lenders and it's crazily scalable.

This is going to be big .Banks have diversified to avoid rate caps and also its cheaper to process and deliver. Equity leads on this followed by coop. The two banks don't have to rely on Mpesa unlike KCB.

[gout]

Kenyan banks except likes of CBA (phenomenal Mshwari), KCB and now Equity, are going to lose it big to the likes of Tala & Branch as the reach of android phones continues to spread like wildfire. These mobile based loans sadly makes nonsense of attempts to cap interest rates but are better than crazy shylocks who have impoverised debtors.

[RV Pundit]

Any bank which doesn't have a mobile strategy is going extinct.

Kenyan banks except likes of CBA (phenomenal Mshwari), KCB and now Equity, are going to lose it big to the likes of Tala & Branch as the reach of android phones continues to spread like wildfire. These mobile based loans sadly makes nonsense of attempts to cap interest rates but are better than crazy shylocks who have impoverised debtors.