Akellobanker offers easy access to tractor hire, improved seed, medical services and farm labor on credit, by leveraging data & mobile Tech to offer structured re-payments compatible to the user's needs. The platform integrates mobile money and use of USSD to facilitate instant access, disbursements and repayments. The technology uses the historical data collected to generate unique Credit Identities, which track the user credit behavior to assign appropriate credit scores. It is believed, that everyone has a financial history, except for the fact that it is not documented. The documentation processes form part of the customer journey towards making access to credit simple and easy.
To use the platform, the user can use their phone or walk to the nearest Akellobanker partner merchants who include SACCOS, Medical service providers, seed and tractor providers for assistance. The merchant can then sign up a user or a user who is currently enrolled can sign up another user. On signup, the SMS notifications with the user credentials are sent to the new user.
After the signup, a unique credit identity (CI) is assigned to a user. This CI contains both financial and non-financial data of the users. The data is used to conduct credit risk analysis, track user performance, track where else the user has taken credit. The generated score is then used to conduct a de-risking analysis to determine the best credit period and installment payments.