Browsing: Mukuru

• Fintechs aim to enhance financial inclusion by offering fair, transparent, and responsible access to short-term credit by combining Mukuru’s trusted customer relationships and network with JUMO’s AI-driven credit infrastructure.
• Mukuru customers can apply via WhatsApp, with instant disbursements to their Mukuru Card.
• New product Fast Loan will generate valuable insights into customer borrowing behaviour, repayment patterns, and financial goals.

Tech platform Mukuru has partnered with AI-powered banking technology provider JUMO, launching ‘Fast Loan’, a scalable, mobile-first credit solution designed to address a critical gap in South Africa.

According to TransUnion, an estimated 16.8 million people in South Africa remain outside the formal credit system, a trend attributable to irregular earning patterns, and lack traditional credit histories, factors which continue to leave them excluded from mainstream financial services.

With the launch of Fast Loan, the two African fintech leaders aim to close this gap by offering fair, transparent, and responsible access …

• Mukuru has launched a new mobile wallet in Malawi to enhance international transfers and boost financial access, particularly for underserved and unbanked communities.
• The Mukuru Wallet features two pockets, Nyanja and Moyo, designed for domestic and international money transfers, with added benefits like no cash-out fees and interest on savings, promoting financial inclusion.
• The wallet is part of Mukuru’s digital transformation strategy, empowering Malawians to participate in the digital economy and modernizing financial services across the country.

Mukuru, a financial services platform popular for its world-class fintech solutions, has made a strategic leap in Malawi by launching its innovative mobile wallet, the Mukuru Wallet. This marks a significant milestone in the company’s mission to enhance financial access and streamline international transfers, particularly for underserved communities.

By offering a secure, efficient, and accessible way to manage funds, the wallet is poised to transform Malawi’s financial landscape.

Expanding financial access through innovation

• One of the most important ways a fintech can listen to its customers is to gauge how they engage with its products.
• Having a deep understanding of customer needs results in innovative solutions.

All around the world businesses are pulling out the stops to achieve growth in what can best be described as challenging economic conditions. Africa is no exception. The continent has long been recognised for its immense potential, and as such businesses across sectors are investing heavily into the continent.

Advancements in technology make serving the unbanked and underserved populations in Africa more viable than ever before. However, that does not mean growth comes easily. It is a hyper competitive and complex environment where genuinely understanding your customer is key to growth.

Even with this textbook understanding, there is a strong urge to take the “build it and they will come” approach because we can get caught up …