L-PESA - Microfinance Technology for the community.
In the development of the microfinance era has a long history throughout the world, for centuries it has met the important needs. In fact, various forms of microfinance had a major impact on economic development in Western Europe in the 18th and 19th centuries. In the last 50 years, microfinance began to affect Asia and Africa through organizations such as Grameen Bank. However, traditional microfinance has limited reach, and solutions have been targeted to poor farmers and small business owners. Middle-class consumers and business owners in developing countries have unfulfilled credit demands, but the current financial infrastructure in the country does not support underwriting credits.
There are some parts of the world that have enormous growth in living standards, the calculation of living standards is done by the simple method of Gross Domestic Product (GDP). Financial inclusion is one of the features for the market today because poverty eradication and economic development can increase. The financial inclusion factor defines people’s ability to access financial services and moreover, it is currently focused on nation building and eradicating poverty.
PURPOSE OF L-PESA
The L-Pesa platform is formed with the idea of improving people’s lives by providing efficient access to credit and other financial services. The service offered by L-Pesa is a microlending service. L-Pesa expects to launch additional financial services that will attract more customers to its platform.
As the four key market forces involved are as follows:
Great Data, Artificial Intelligence & Blockchain
Alternative Credit Data
L-Pesa has leveraged this market power and built proprietary credit technology and modeling models that enable it to rapid microlens in developing countries while maintaining a loss ratio below 10%. Allows a small back office team to support high volume loan origination. All loans are serviced by L-Pesa.
L-Pesa also has a strong focus on automation. 95% of the acquisition process as well as underwriting by automatic users are highly scalable. The user experience is based on the mobile and web interface, and marketing is mainly done through social media and SMS. The pile of L-Pesa technology is built on Amazon Web Services, a highly scalable on-demand cloud computing platform that has been used by major brands like Netflix, Airbnb, Pinterest, and Spotify. L-Pesa has integrated a number of third-party applications to perform tasks such as SMS messaging, user verification, and marketing. Fund transfers are handled through the integration of mobile money service providers such as M-Pesa, Airtel Money, Tigo Pesa, and MTN.
Vision of L-Pesa
To improve people’s lives through efficient access to credit and related financial services.
For example where L-Pesa has achieved this success is described in
INFORMATION TOKEN SALE and ICO
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