Syntellect will focus on Understanding Kenya's housing infrastructure and the difficulties lenders face in providing loans to the country's underbanked population
Syntellect, a fintech start-up based in India with a focus on affordable housing solutions, is expanding its presence in Kenya. The company has formed a strategic partnership with Kenya Women Microfinance Bank PLC (KWFT), a prominent microfinance lender in East Africa.
The company in its statement said that its tool, RightProfile™ will be helpful in reshaping customer profiling and loan underwriting. It equips lenders worldwide with invaluable insights into the creditworthiness of underserved, unbanked, and low-income customer segments.
Speaking about the partnership, Sumedha Salunkhe Naik, CEO of Syntellect, said, "After a year of unwavering commitment to the Kenyan market, we eagerly anticipate making a profound impact on the lives of KWFT's customer base of 800,000 individuals, especially those in rural areas, where 80 per cent of their clients are located."
Kibet Kipkemoi, director of ICT and Bank Operations of KWFT said, "This partnership aligns with our vision of financial empowerment and improving the well-being of those we serve. It's not just a collaboration; it's a shared commitment to creating a better tomorrow for the people of Kenya."
Funded by UK-based Reall, banking veteran Naik’s start-up, through its tech platform “RightProfile™” empowers lenders across the world by providing creditworthiness insights of the underserved, unbanked low-income informal customer segment, thus opening the floodgates of financial inclusion.