Unifi, a fast-growing personal loans company, is employing sophisticated technology to cater for underserved East African markets.
Its USSD-based app, which is called the Uniapp, enhances the company’s brick-and-mortar presence, and allows returning customers to get Unifi loans with their phones, or to complete transactions such as checking their balances and paying their instalments with mobile money.
Every new customer must visit a branch and have their fingerprints taken when they take out their first loan from Unifi but can thereafter simply transact through the Uniapp if they choose. Aside from fraud prevention, the initial check-in at the branch ensures first-time customers are educated about the product and are properly set up for self-service on the app going forward.
Michiel le Roux, Co-founder and Group Head at Unifi, said: “I think keeping it simple has been key. We started with one core product – small, short-term personal loans – and have been focusing on delivering it well by combining tech, data analytics and outstanding customer service.
“We’re excited to see that we’re on to something, that our customers are really responding to it. Our approach combines tech with a human touch to make our product simpler and faster in markets where it’s historically not been easy to access personal finance.”
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