Customer-centricity and innovation key to financial inclusion

Customer-centricity and innovation key to financial inclusion

Digital lenders have been challenged to start offering strategic leadership that supports a transition towards customer-centric transformation journey and growth of innovative products and services that will revolutionarise digital lending in the country.

According to Zenka Finance Chief Executive Officer, Duncan Motanya putting customers at the centre of all decision making will generate sustainable growth for digital lenders, boost value creation to borrowers and deepen financial inclusion in Kenya.

“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.

Zenka Finance Limited recently become the first micro-lender in Kenya to launch Artificial Intelligence powered Chatbot to increase efficiency of its engagement with customers. The mobile lender said the smart digital assistant has started revolutionising how customers are served, as it engages top gear on delivering customer-centric solutions to boost financial well-being of Kenyans.

“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.

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.

The new product will support other customer care initiatives already deployed by the micro-lender to boost customer experience.

Zenka also has a referral program (MGM program) that offers customers a chance to share positive experience with Zenka and a way for them to earn bonuses when customers refer their friends. Under this program customers earn SH 10 once a friend registers and Sh 200 after their friends repay their loan on time. The aim of this program is to build a pool of quality 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,” he said.

First-time customers eligible to get loans of Zenka enjoy cost-free credits, with a condition that the loan must be paid on time. Customers also enjoy flexible repayment terms that hands the customer freedom to choose how they want to repay their facilities.

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.

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