By Carlos Onyango
Leading mobile lending app company, Tala, today celebrated its 5-year anniversary since it’s official launching in 2014.
With over 2.5 million customers worldwide, Tala owns the bragging rights as the first mobile lending app to have disbursed unsecured loans to its customers over the past five years. This is a statement that was released during the celebrations.
The success of this company has not only meant access to those who don’t have the app but, due to its economic impact, has also helped create pathways for Kenyans to take control and make wise decisions when it comes to dealing with their financial issues.
Tala has been at the forefront of the digital revolution, transforming financial services especially for those who have little or no formal credit history.
Speaking at the event, the head of Tala Kenya’s business, Ivan Mbowa, said that Tala has changed the way people and small businesses operate and has become a major vehicle for progress throughout the country.
Looking ahead, Tala will continue playing a crucial role in providing life-changing financial support in Kenya and around the world.
“Our credit product was designed to meet the immediate needs of the emerging middle class, but our technologies have the power to fulfill so much more. We are set to launch a number of initiatives intended to accelerate the development of products and service solutions that have the potential to transform financial services,” Mr. Mbowa said.
“While technology is a big component, customer experience is the foundation underlying our success. To catalyze the expansion of accessible financial services for all, products must be developed with the customer at heart,” Mr. Mbowa added.
Tala remains the largest non-bank Fintech in the market having pioneered the use of non-traditional credit underwriting to create financial identities and provide much-needed liquidity for the under-banked.
With an established customer base in Kenya, Tanzania, the Philippines, India, and Mexico, Tala is also looking at cementing its leading position while expanding to several other countries in the next five years.