Tala has launched a credit option that allows borrowers to choose a repayment date.This will enhance loan flexibility and expand its user’s reach through innovation, mobile lending firm as well to give the option that allows borrowers to choose a repayment date.
Dubbed ‘Jichagulie Due Date’, the facility is aimed at providing customers an option of selecting dates that align with their income cycle or salary pay date.
Speaking at the launch event, Annstella Mumbi, Tala’s Country Growth Manager, said the firm will introduce more products that will enhance financial inclusivity and give its customers the confidence to meet their financial goals.
“This product was developed after a rigorous user research process in collaboration with Tala customers, it will give borrowers the power to choose the due date that works best for them, not Tala. And this is just the beginning,” she said.
Nicola Muriuki, the company’s legal counsel who was also in attendance added that the enactment of a law to regulate digital lenders will provide an opportunity for the company to innovate for the betterment of Kenyan consumers.
ICT Cabinet Administrative Secretary(CAS), Maureen Mbaka, CBS lauded the fintech firm for continuously innovating financial solutions for the 21st-century Kenyan customer.
“It is this government’s priority that we deploy technological solutions to further financial inclusion for our people and democratize access to financial services for all Kenyans regardless of their social or economic status,” Mbaka said.
First launched in Kenya in 2014 and with more than 6 million customers worldwide, Tala leverages proprietary technologies to provide financial services to people that not benefit directly from traditional finance.