It has been in use for many years as lenders try to measure loan risk in terms of interest rates and other fees.
CreditHela will offer first of it’s kind risk-based pricing, where it will ensure best category of borrowers through an empirical model will access loans at lower rates.
A recent study shows that 60% of most short tems borrowers pay by second week and 30% first time borrowers do not pay.
Therefore, there is need to change rationale and ensure best borrowers access loan at premiums which will also be a stimulus package for best borrowers category.
CreditHela will be the first of its kind loan product in the country by any financial company in Kenya which comes with countless benefits which include:
-Know the risk
-Develop a risk-pricing plan
-Negotiate the risk
-Be targeted with the analysis and simple with the output
-Input the parameters in the system in risk-pricing model
-Create a risk review process and new set of rules
-Capture learnings for the future and make analytics
-Build risk-analysis talent and capabilities
Also Read: Here is What CreditHela Financial Literacy Programme Entails.