Outperforming all the local competition with fair, fully digital crediting

MicroLoans
  • Founded 2019
  • Headquarters Mosambique
  • Lending model Consumer loans
  • Employees 4

Background

The Mozambique crediting sector is dominated by government banks and loan sharks that stick to the aggressive collection approaches. As a result, the general public doesn’t have access to affordable credit products on fair terms. In 2019, Tchela Male’s co-founders decided to fix this issue once and for all. 

The team researched the lending automation market to choose the optimal provider in terms of price, intelligence, scalability, and flexibility. Having analyzed nine e-lending solutions, the team agreed that the only solution that will be able to help them revolutionize crediting in Mozambique is TurnKey Lender’s end-to-end lending automation solution with Portuguese localization. 

Some of the decisive factors that led Tchela Male to select TurnKey Lender include:

  • Credit background checks are underdeveloped in Mozambique, so the loan decisions had to be made based on alternative credit scoring factors. 
  • The system is easy to use even for people without technological background.
  • Fully digital lending process for borrowers and employees.
  • Automatic borrower communication skyrockets the quality of customer relations.
  • The solution didn’t require the implementation of custom functionality to address all the Tchela Male’s requirements
  • TurnKey Lender can be fully white-labeled, removing any mention of the software provider.

Thanks to TurnKey Lender, even large-scale banks can’t compete with us in terms of speed, user-experience, and digitalization.

Solution

Tchela Male required end-to-end lending processes automation in a single solution that could be easily configured to match the exact requirements of the local regulators and would adhere to the modern standards of the global digital lending space. 

The TurnKey Lender Unified Lending Management (ULM) solution provided that and more at an affordable price which was further reduced to help the company deal with the aftermath of the 2020 crisis. The solution delivered to Tchela Male includes but isn’t limited to the following functional modules:

  • Loan origination 
  • Credit decisioning
  • Underwriting
  • Collateral
  • Servicing
  • Collection
  • API client
  • Reporting

Even though modular, the System works as a single mechanism processing the loan applications, servicing them, collecting, preparing reports, and automating the communication with the borrowers.

With TurnKey Lender ULM, Tchela Male is able to provide personal loans faster than anyone on their market, on better terms (thanks to AI-driven origination), and with an unmatched user-experience.

Because of the lack of reliable credit bureau data in Mozambique, Tchela Male staff has to rely on the TurnKey Lender’s AI-driven risk scoring and decision rules which help weed out potential fraud and comply with AML and KYC laws. The entire loan application, servicing, and collection process is done remotely online, which is especially appreciated by the customers in the post-COVID reality.

Results

In less than a year, the company has achieved the following thanks to TurnKey Lender:

  • 3 minutes to issue a new loan to an existing customer.
  • Tchela Male offers the fastest, safest, and the most accessible credit products on their market.
  • Explosive growth achieved through the word of mouth.
  • Potential partnership with the Central Bank and expansion into fully-fledged corporate lending.
  • Semi-automatic credit decisioning (the System analyzes the application, provides structured in-depth data about the borrower and helps make an informed credit decision).
  • Borrowers praise Tchela Male as Mozambique’s pioneer in fully digital lending.
  • The System fully automates borrowed and employee tracking and reporting.

We looked at our market and decided to stand out by offering an honest, easy-to-use, and intelligent solution to our clients. After careful consideration, we’ve decided to go with TurnKey Lender because right out of the box it lets us do things even banks can’t do in our region. With TurnKey Lender, we were the first on the market to do real automation and customer communication. Thanks to TurnKey Lender, our clients are amazed by the level of service they receive.

Next steps

Reach out to our team at [email protected] and schedule a free personalized demo.

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