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Browsing: CBK
Bankers in Kenya are grappling with record 18-year high loan defaults due to high interest rates and a tough business…
Kenyans in the diaspora increased the money they sent back home for the 12 months ending in December 2023 by…
Kenyans in the diaspora sent home $4.19 billion in 2023 as remittance inflows to the East African country hit an…
New standard to guide how Payment Service Providers and institutions regulated by the CBK issue quick response (QR) codes. Merchants…
Equity Bank (Kenya) Limited (EBKL), has completed the acquisition of certain assets and liabilities of teachers-owned Spire Bank Limited following…
Centum Investment Company has aborted its plans to sell its majority stake at Sidian Bank to Nigeria’s Access Bank PLC…
The Central Bank of Kenya (CBK) has welcomed the admission of the Democratic Republic of Congo (DRC) into the East…
Microfinance institutions are trying to cope with the changing times as the market is moving to fast delivering digital systems of money transfer.
Chinese investors in lending apps
A couple of lending apps in Kenya cannot be mentioned without referring to Yahui Zhou, the chief executive of Kunlun Tech. Company Limited.
Zhou is famous for two things; his gaming company and his very expensive divorce settlement; he gave his ex-wife shares of Kunlun Tech worth US$1.1 billion.
Kenyan women living in the diaspora send more money home for household activities and needs than men They also tend…
Yet for SME and corporate lending, credit decisions remain an extended process as information is gathered manually and appraised over, sometimes, weeks, to establish the creditworthiness of the borrower.
The need to abandon such cumbersome processes has recently seen leading banks adopt technology, such as our CreditQuest, to automate credit origination, and manage credit workflow, appraisals, documents, customer ratings and credit decisions.
This kind of technology draws all current and historical credit data onto a unified platform, giving the bank’s analysts a true single customer view of credits and collaterals.