Project description
Launched in 2014, Tala is a loan app that offers a 30 day loan and a 21 day loan. It allows users to pay all at once or make partial payments as long as they clear before or at the given due date. It is different from the functionning of bank interest as only the mobile application is needed. Loan decisions are based on many pieces of information, including income, repayment of other loans, M-Pesa usage, and other information. Users provide these information to Tala by using the app and filling out survey, and then the software builds a personal credit profile. This allows to provide loans more quickly and to more people than traditional banks.
Tags: Application, Fintech
Useful links
Project summary
- Organization Tala
- Location Kenya
- Creation date 08/10/2019
- Project category Smart-economy
