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Stiffler
#21 Posted : Wednesday, April 25, 2018 3:46:30 PM
Rank: Member

Joined: 11/7/2017
Posts: 186
Location: Nairobi
Lolest! wrote:
Speculz wrote:
Where do they compute that credit score from?

From some source who works with one of those popular mobile loan companies, they analyse data on a borrower's phone: SMSs etc. Certain keywords or SMS received from other lenders increase risk. They don't like gamblers.


Doesn't this infringe on Privacy...?!
Going through one's messages
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grolut
#22 Posted : Wednesday, April 25, 2018 4:07:47 PM
Rank: Member

Joined: 9/2/2010
Posts: 563
Location: Embakasi
Stiffler wrote:
Lolest! wrote:
Speculz wrote:
Where do they compute that credit score from?

From some source who works with one of those popular mobile loan companies, they analyse data on a borrower's phone: SMSs etc. Certain keywords or SMS received from other lenders increase risk. They don't like gamblers.


Doesn't this infringe on Privacy...?!
Going through one's messages


The app asks for these permissions at installation. If you grant it to them then you are implicitly providing your consent for them to access your messages.
In a place where thought is abandoned, freedom can become a curse.
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mkenyan
#23 Posted : Wednesday, April 25, 2018 4:51:33 PM
Rank: Veteran

Joined: 4/1/2009
Posts: 1,885
Lolest! wrote:
mlennyma wrote:
ngapat wrote:
A mobile app that allows peer to peer lending and borrowing. I was looking at it as an investment option to put in some cash for lending. Lending for 10 days gives 8% returns but you are given 55% the 8% and the rest goes to ubapesa. Ive put 1k to test and see how it works. Anyone tried it?

they are paying withholding tax and insurance meaning the authorities and cbk knows. ..I have downloaded the application ready to test with about 5k

GoK doesn't act like one entity! You can be paying everything then CBK claims they have no knowledge of the company

Impressive idea though. This segment is huge. There are very many hungry Kenyans looking for small fixes

you are right. this will most likely be shut down by cbk as the fact that they act as an in-between and guarantee money lent may be used to justify their being classified as bank. also providing and or arranging for financial facilities to the public is probably regulated too.

these peer to peer loan sharking have been done and are very popular in china. however the government has shut down a good number coz of non-compliance and or the tightening of regulations
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  | | Edit by user: Wednesday, April 25, 2018 4:54 PM | Reason: Not specified
washiku
#24 Posted : Wednesday, April 25, 2018 8:31:00 PM
Rank: Chief

Joined: 5/9/2007
Posts: 13,095
grolut wrote:
Stiffler wrote:
Lolest! wrote:
Speculz wrote:
Where do they compute that credit score from?

From some source who works with one of those popular mobile loan companies, they analyse data on a borrower's phone: SMSs etc. Certain keywords or SMS received from other lenders increase risk. They don't like gamblers.


Doesn't this infringe on Privacy...?!
Going through one's messages


The app asks for these permissions at installation. If you grant it to them then you are implicitly providing your consent for them to access your messages.


Plus clicking on the terms and conditions which very very few people read
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Impunity
#25 Posted : Thursday, April 26, 2018 9:38:06 AM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
washiku wrote:
grolut wrote:
Stiffler wrote:
Lolest! wrote:
Speculz wrote:
Where do they compute that credit score from?

From some source who works with one of those popular mobile loan companies, they analyse data on a borrower's phone: SMSs etc. Certain keywords or SMS received from other lenders increase risk. They don't like gamblers.


Doesn't this infringe on Privacy...?!
Going through one's messages


The app asks for these permissions at installation. If you grant it to them then you are implicitly providing your consent for them to access your messages.


Plus clicking on the terms and conditions which very very few people read


Usually unable to read due to tiny prints!
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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target1360
#26 Posted : Sunday, April 29, 2018 10:33:00 AM
Rank: Member

Joined: 5/14/2014
Posts: 289
Location: nairobi
when someone offers me quick money, i quickly say no .
I find satisfaction in owning great business,not trading them
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Thitifini
#27 Posted : Tuesday, May 08, 2018 6:45:59 PM
Rank: Member

Joined: 1/15/2015
Posts: 681
Location: Kenya
Unsecured Loans.......hapa defaults dio zitawaangushasmile .

60% Learning, 30% synthesizing, 10% Debating
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mawinder
#28 Posted : Wednesday, May 09, 2018 4:01:48 PM
Rank: Elder

Joined: 4/30/2008
Posts: 6,029
Thitifini wrote:
Unsecured Loans.......hapa defaults dio zitawaangushasmile .

So far on the platform..There is a lender who every 2 or 3 days, lends Shs 1m
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ngapat
#29 Posted : Wednesday, May 09, 2018 10:14:58 PM
Rank: Veteran

Joined: 12/11/2006
Posts: 930
So far so good. I have increased my investment to 12000 and my interest ìs over 600bob in two weeks. One client borrowed sh 1000 for ten days only to repay after one day. Considering going big
“Invest in yourself. Your career is the engine of your wealth.”
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Wondergirl
#30 Posted : Thursday, May 10, 2018 12:02:53 PM
Rank: Member

Joined: 9/12/2009
Posts: 312
ngapat wrote:
So far so good. I have increased my investment to 12000 and my interest ìs over 600bob in two weeks. One client borrowed sh 1000 for ten days only to repay after one day. Considering going big

Shame on you
I would strongly advise you against going big... this is big time risk, the probability of losing is much higher than that of gaining. The idea is brilliant, but the achelli's heel here is defaulters. I'm sure there are some "wise"Kenyans, who don't give a f****k for credit score who are working overtime borrowing and with no intention of repaying. Believe me, there will always be people who know how to beat the system, I mean who would have guessed that you could drill a hole into a bank that is in the middle of town, and right opposite a police station!!
P.S ata mimi na cheza na pesa kidogo kama hiyo yako...
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