Kenya is on the brink of a Digital Revolution with smartphones becoming a catalyst for growth. Registering an impressive growth YOY, mobile connections in Kenya reached 66.04 million in early 2024 as stated by GSMA. —Despite high penetration rates, smartphone affordability remains a challenge, especially for lower-income Kenyans. Even entry-level smartphones often cost over 60% of their monthly income, hindering access to digital tools that are essential for growth in the modern economy. Here is where mobile device financing can alter the playing field by making smartphones affordable to all. With the vision for financial inclusivity, Datacultr is the stepping stone for creating a successful smartphone financing strategy.
Datacultr is a unique mobile device financing platform that empowers financial institutions to offer smartphones on a finance program, while minimizing risks. By securing credit risk, Datacultr helps banks, NBFCs, and other financiers extend access to smartphone to millions of Kenyans, driving the Digital Revolution forward.
How does Datacultr help in de-risking Mobile Device Financing?
Datacultr’s digital risk management and debt collections platform is tailor-made to help financiers expand smartphone ownership while minimizing associated risks. Here’s how Datacultr’s solutions empower financial institutions to capture this opportunity:
Boost Smartphone Ownership and Customer Reach
Datacultr’s platform enables flexible financing models that allow more people to afford smartphones. This drives higher smartphone penetration and unlocks a vast customer base for banks, NBFCs, and other financiers. Expanding access to smartphones connects more Kenyans to digital financial products, and, with Datacultr’s support, institutions can confidently reach these new segments.
Strengthen Financial Inclusion with a Digital Strategy
By financing smartphones, financial institutions offer many Kenyans their first access point to formal finance. With 68.7% Kenyans already using mobile money, a smartphone often marks the start of their journey toward greater financial inclusion. Datacultr’s platform enables lenders to reach “new-to-credit” customers, supporting the use of mobile banking, insurance, and savings products—all of which strengthen financial inclusion.
Drive Digital Literacy and Empower Economic Growth
Datacultr integrates engagement modules designed to foster digital literacy, helping borrowers maximize their devices’ potential. With affordable smartphones, borrowers access e-learning and upskilling opportunities. This not only prepares a digitally empowered workforce but also drives the broader economic growth that banks and NBFCs aim to support through their services.
Efficient Digital Debt Collection and Risk Management
Lending to “new-to-credit” customers in emerging markets can pose repayment risks. Datacultr’s platform addresses this with a comprehensive digital debt collection model that virtually collateralizes the borrower’s smartphone to promote timely payments. Its advanced engagement workflows help prevent defaults and reduce non-performing loans (NPLs). These proactive strategies optimize collections, giving lenders confidence to extend credit to customers they might have otherwise overlooked.
Minimize Non-Performing Loans with Robust Data-Driven Insights
Datacultr’s platform provides real-time insights that help lenders assess and manage risk effectively. With their comprehensive reports, Datacultr provides financiers with a clear picture of repayment behaviors, allowing them to make informed decisions. This data-centric approach improves collections, lowers default risks, and strengthens overall portfolio health.
Support Kenya’s Digital Transformation—And Build Your Business with Datacultr
Kenya’s Vision 2030 aims to create a digitally empowered society, with a smartphone penetration target of 81% by 2030. Datacultr’s platform aligns perfectly with this goal, providing financial institutions with the tools to make affordable smartphone ownership a reality for millions of more Kenyans. By participating in this digital shift, lenders not only drive business growth but contribute to Kenya’s sustainable digital future.
With Datacultr as your partner, expanding into the smartphone financing market becomes an opportunity for growth that’s backed by data, efficiency, and risk management. Empower Kenya’s digital future while achieving your financial goals.
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