Nipashe 2.0 App Follows in the Wake of Successful Nipashe SMS Service
TransUnion (NYSE: TRU), a trusted provider of global information solutions for assessing and managing risk, has launched an update on their successful Nipashe SMS short code solution – Nipashe 2.0. Nipashe 2.0 will still offer consumers the ability to access credit information, yet through a much more user friendly smart phone application. The new application will also enable lenders to access the same credit information, acting as a platform for consumers and lenders to come together.
“The original Nipashe - meaning ‘inform me’ in Kiswahili – has been a huge success,” said Rose Muturi, acting country manager for TransUnion Kenya. “It has enabled more than 60 000 consumers to successfully check their credit status, clear any negative listings and apply for credit with trusted institutions, all via SMS. However, the increasing uptake of smart devices, and a need for a more user-friendly and easily accessible platform has spurred the development of our new application.”
Nipashe 2.0 will still offer consumers the ability to check their credit score, but in real time. It is vital that consumers understand their credit status and are provided with a simple way in which to clear negative listings. The application promises to enable just that, offering a user-friendly interface through which consumers can easily navigate their way to a cleared credit record.
Consumers will also have the option, now, to pay outstanding debts from the Nipashe 2.0 app directly from their bank accounts. TransUnion has partnered with Craft Silicon in order to enable transactions to take place on the platform so that consumers are able to make payments to various lenders and financial institutions with immediate results, directly from their smart device. Users will be able to make payment using multiple payment methods, including credit cards, debit cards, direct transfer and mobile money.
Muturi added, “The app also serves as a meeting place for consumers and lenders. Any consumer checking their credit status is likely to be looking to apply for credit in the near future. Lenders will be able to make contact with the interested consumer to provide competitive credit offers. Potential consumers accessing lenders through this platform can be considered direct referrals from TransUnion. This virtual meeting place for lenders and consumers will neatly bridge the current gap, enabling positive competition.”
While this opens up the market for lenders, it also provides a platform for consumers to know their credit rating, and bargain for better interest rates. Consumer awareness is the main driver behind the Nipashe 2.0 solution, helping consumers to get the best out of credit and understand their own rights, too.
“The timing for this application is perfect,” said Muturi. “We have our local elections coming soon, and any potential candidate requires, by law, to have a credit bureau clearance certificate. Potential candidates will be able to, at their convenience, check their credit status, clear any negative listings cleanly and efficiently, and obtain the required clearance certificate – all from the Nipashe 2.0 app.”
The Nipashe 2.0 solution launches on the 1st of February 2017. It will be readily available to ELMA partner lenders on their mobile banking menus. For more information visit: www.TransUnionNipashe.co.ke.