Zenka Finance is backing the development of innovative financial products that will place customer needs at the heart of digital lending in order to ensure sustainability and deepen financial inclusion in the country.
Zenka Finance Chief Executive Officer Duncan Motanya says the focus on customer-centricity among industry players will also create value to borrowers, a move that will revolutionize digital lending in the country.
“Digital lenders will drive customer value by retaining borrowers longer, acquiring new customers that they can serve better, and developing deeper customer relationships,” said Motanya.
Digital lenders have been at the centre of proposed Central Bank of Kenya Amendment Bill that seeks to regulate the industry that has been largely left unchecked despite rapid growth over the last few years.
The firm recently deployed Artificial Intelligence Chatbot that Motanya says will help the firm increase efficiency in its operations.
“Despite the challenging pandemic year, we strive to stand out and offer innovative products and services that introduce balance and harmony in the financial world of every customer who needs them,” said Motanya.
According to Motanya, the Chatbot will enable Zenka to manage questions and complaints from customers in real-time and measure customer satisfaction in order to achieve further improvements.
“Effectively we begin to engage and delight our customers with a touch of human-like interaction combined with personalised experience that customers will feel like a natural chat between people in virtual world,” said Motanya.
Zenka Finane is further banking on its customer referral programme which enables them to earn bonuses in order to solidify its market share.
Under the program customers earn Kshs. 10 once a friend registers and Kshs. 200 after their friends repay their loan on time as it builds a base of good borrowers.
“We like to give our customers something beyond their expectations, as we believe that it is important to celebrate our valued clients and give them a reason to do more business with us. We keep on creating the most rewarding experiences for them in line with our strategy to serve our clients in Kenya,” added Motanya.
First time borrowers have up to 61 days with two-instalments payment option while those who need more time to repay their loans are allow to extend their tenure by seven, 14 or 30 days.
Zenka is also the only lender that offers top-ups within the existing loan limit, without the need to pay the outstanding balance of the previous loan.