Kenyans to Access Financial Services As New Fintech Solutions Unveiled

12 August 2024
Capital FM (Nairobi)
By Wangechi Purity

Nairobi — Experian MicroAnalytics, a mobile financial services company, has entered into a deal with Creditinfo Group, a firm that offers risk management solutions, to unveil new fintech solutions that will facilitate access to finance for individuals and businesses across Africa.

Experian MicroAnalytics' mobile financial services platform, leveraging Creditinfo's scoring models and local market expertise, will provide innovative solutions to help businesses access finance.

Sammy Hamoudi, General Manager of Experian MicroAnalytics, said that the pact will enable the company to onboard expertise in mobile financial services, allowing it to offer mobile money loans, advanced analytics, and machine learning to underserved populations who don't have access to traditional banking services.

"Experian is dedicated to driving financial inclusion globally, and our partnership with Creditinfo strengthens our ability to deliver impactful solutions," said Hamoudi.

"Together, we aim to empower telecommunications operators and fintechs to extend their services to previously underserved populations."

Kamau Kunyiha, Regional Manager, East and Southern Africa at Creditinfo, added that the deal will enable the company to establish itself as the leading credit bureau provider on the African continent.

This will allow the firm to enhance its business risk assessment capabilities and customer insights.

"At Creditinfo, we recognize the transformative power of data-driven solutions in fostering financial inclusion," said Kunyiha.

"Our collaboration with Experian will help individuals and businesses across Africa gain access to finance, underscoring our shared vision to drive positive change and improve the standards of credit assessment."

The two firms recently jointly sponsored the Africa Fintech Festival 2024.

The festival provided a platform for them to demonstrate their collaborative efforts.

Through conference discussions, participants were able to explore opportunities to enhance financial inclusion in Africa through future collaboration.

Read the original article on Capital FM.

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