OKash, a microlending application in Kenya, has won the award for best Mobile Loan Platform of 2019 during the third edition of the Digital Tech Excellence Awards held last week.
The positive impact that the microlending app has had on the everyday life of its users was among reasons for bagging best loan app in the country.
The app service that engages artificial intelligence is made in a way that enables easy, fast and secure access to short term loans. The artificial intelligence (AI) technology is used to analyse an applicant's intended purpose for the loan as well as the repayment behaviour of the user.
“Most users spend less than two minutes to get a loan processed," said Peter Kaiga, acting manager and head of analytics at the lender. The service is popular among microbusiness owners as well as ordinary borrowers who use the platform to access short loans for personal use.
