Nairobi — Online lending platform Tala has been listed on CNBC and Forbes prestigious global lists for advancing innovation in the digital space.

This is the eighth time that the Francisco-based company appears on Forbes' Fintech 50 list and fifth under CNBC's Disruptor 50.

According to the two, Tala was recognized for providing personalized and tailored financial services to the underbanked population worldwide.

As Forbes highlights, 'in 2023, Tala rebuilt its data infrastructure to cut the time it takes for most customers to get approved for a loan from two minutes to just a few seconds.'

"Today's financial system doesn't work for the Global Majority - the 52% of the world's population who are excluded from legacy finance. At Tala, we're proud to be working towards unleashing the $10 trillion worth of economic power of the Global Majority with the latest technology," said Shivani Siroya, founder and CEO of Tala.

Forbes Fintech 50 annually features firms that continue to innovate, grow, and adapt even as the industry suffers layoffs, lower valuations, and a collapse in venture capital support.

Similarly, CNBC's Diruptor 50 highlights companies leading in AI innovations in business.

CNBC states, "Tala is out to disrupt legacy finance in developing markets by providing loans, credit, insurance and bill pay to consumers who lack access to banks, insurers and lenders, and who lack a financial track record."

"At Tala, our dedication lies in advancing financial inclusivity for Kenyans through dependable and accessible financial solutions. As we persist in elevating financial stability and empowering aspirations, we actively advocate for financial literacy and forge partnerships with aligned organizations committed to enhancing financial service accessibility," expressed Annstella Mumbi, General Manager of Tala Kenya.