underbanked - eriinfo

AI-powered lender Optasia targets SA’s underbanked

eriinfo.com2 weeks ago010 mins

South Africa is still a cash-based economy, says Optasia. (Image source: iStock) Artificial intelligence (AI)-powered fintech company Optasia is stepping up its push into South Africa, betting that AI-driven credit scoring can unlock financial services for millions of people who remain underserved by the country’s formal banking sector. Speaking to ITWeb in an interview yesterday,…

Nedbank, Jumo bet on AI lending for the underbanked

eriinfo.com2 months ago04 mins

Mutsa Chironga, managing executive for personal banking at Nedbank Nedbank has partnered with fintech Jumo to launch a digital short-term lending product inside its Money App, the two companies said on Thursday, pitching the service at millions of South Africans underserved by traditional credit providers. The product, branded Nedbank Quick Loans, lets clients apply through…