CreditHela, since its launch, has had a broad acceptability among borrowers, to emerge a market leader in the digital microlending sector in Kenya.
It is also among the most downloaded fintech applications in Google Play Store in Kenya as per Google reviews and ratings.
Below are FIVE things you need to know about CreditHela which have contributed its success and acceptability in the digital lending/borrowing market.
1. User Privacy and Data Protection
CreditHela comes with very elaborate guidelines aimed at privacy protection of users. Client data protection is among CreditHela's top priorities.
2. Borrowing Range
One can borrow any amount of money from CreditHela App ranging between Sh1,500 and Sh80,000, and spend the way they want as all borrowed facilities are personal loans.
3. Loan Application
With only 3 steps to access a digital loan, CreditHela is fast, efficient and instant. Mobile loans are disbursed through M-Pesa. All you need is to register your information, apply and get your loan in your M-Pesa wallet within minutes if you qualify.
4. CAMPARI Tool
CreditHela employs a tool known as CAMPARI (Character, Ability to repay, Margin, Purpose, Amount, Repayment terms, and Interest) to assess the creditworthiness of any particular borrower.
5. Risk-Based Pricing
A risk-based pricing is a methodology used by CreditHela to ensure best category of borrowers are able to access loans at lower rates through an empirical model.
Risk-based pricing basically entails the following:
- 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.