Loan & Payments
KontoMoney’s agency banking model significantly enhances the availability and accessibility of financial services in nigeria.
Through a widespread network of local agents, KontoMoney provides a comprehensive suite of loan and payment services, ensuring that even the most remote communities can access essential financial resources.
Dimensions of Loans & Payments
1. Loan Disbursement
Purpose: Personal, small business, and agricultural needs.
Eligibility: Basic credit assessment, proof of income, sometimes collateral.
Purpose: Purchasing consumer goods, education.
Eligibility: Creditworthiness assessment, income verification, sometimes collateral.
Purpose: Business expansion, equipment purchase, cash flow management.
Eligibility: Business financials, proof of operations, credit history.
2. Loan Repayment
Methods: Cash payments or direct debits via agents.
Real-Time Updates: Transactions updated instantly.
Receipts and Confirmation: Printed receipts for transparency.
Plans: Weekly, bi-weekly, or monthly repayment options.
Convenience: Payments at any agent location.
Structured Repayment: Tailored to business cash flow.
Agent Assistance: Ongoing support for timely payments.
Key components
Accessibility
Geographical Reach: Services in urban, semi-urban, and rural areas.
Local Agents: Trained community agents for easy access.
Real-Time Processing
Integrated Systems: Real-time processing of applications, disbursements, and repayments.
Instant Confirmation: Immediate transaction confirmation via SMS or receipt.
Customer Support
Agent Training: Rigorous training for accurate support.
Support Channels: Helplines and customer service centers.
Financial Inclusion
Inclusive Criteria: Targeting unbanked and underbanked populations.
Simplified Processes: Reduced documentation for easier access.
Security and Compliance
Regulatory Compliance: Adherence to Central Bank of Nigeria (CBN) standards.
Data Security: Encryption and biometric authentication.
Economic Empowerment
Individuals: Funds for personal improvement, education, and goods.
Small Businesses: Growth, job creation, and local economic development.