FairMoney

FairMoney

A better banking service for everyone

  • Profil

    Project description

    Fairmoney is a mobile banking platform for private and business borrowers. It is an application that uses smartphone data to build an instant credit score and give loans. FairMoney lets someone get a loan from its mobile app and after answering a few questions and sharing financial information, the startup analyzes this data set as well as the geolocation and transfer the money via the traditional banking system. Interest rates vary depending on the repayment periods and other factors. For users without smartphones, the startup is also working on an SMS interface to transfer money.

    Tags: Financial inclusion, Fintech, and Mobile application

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    Project summary

    Organization

    Fairmoney

    Location

    Nigeria

    Creation date

    2017

    Project category

    Smart-economy

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