Yabx partners with Clickatell to launch WhatsApp lending in Africa

Through this collaboration, Yabx aims to democratise access to financial services and enable customers to get credit in real-time. 

Conversational Banking through WhatsApp’s features

Africa faces a growing demand for loans, especially for small ticket sizes. Leveraging this, Yabx aims to provide a customer-centric interface on WhatsApp, removing the barriers when securing a loan and, thus, enhancing financial inclusion across the region for the underbanked and unbanked population. Taking advantage of its digital footprints and analysing each customer's data, Yabx will provide them with a credit score and a loan limit.

The company has a proven history of offering financial services through multiple channels, such as the Internet, apps, and USSD, thus making it easily accessible to mobile phone users. In addition, Yabx's cloud-based infrastructure and inclusive approach allow banks to serve an extended web of customers in a responsible manner. 

As per Yabx's official statement, the company has been developing new ways to make credit more accessible in emerging markets and to change the way that underbanked individuals and businesses view finance. This aims to be an important component in further solidifying and democratising access to financial services by making it more personalised.

Adding to this, Clickatell mentioned that the new partnership will boost accessibility to financial services across Africa. Through WhatsApp for lending, it intends to facilitate an inclusive and individual-orientated financial system, improving the landscape of financial services throughout the continent.

Yabx's previous developments in Africa

Yabx is a digital financial services company that aims to simplify financial access to new-to-credit customers and MSMEs in Africa by providing financial access to the underserved by using technology and analytics to reduce the cost of delivering financial services. The company has established partnerships with banks, microfinance institutions, ecommerce players, payment gateways, credit bureaus, mobile financial services providers, and mobile network operators, with a greater focus on the African continent. 

In September 2021, Yabx announced its expansion of its market share in the digital lending space in Africa. With partnership agreements signed with banks and wallet operators in several Eastern, Western, and Central African countries, Yabx's development was focused on market expansion and launching new service offerings to cater to customer needs.