Mobile lending has never been as popular as it is today. There is large demand for mobile loans in Africa. Mobile lending has been made popular by fintech companies that have revolutionized the old lending business. Some of the fintech include:
Benefits of Mobile Lending
The cost of lending per dollar has gone lower when compared with the traditional lending
Ability to offer microloans which were uneconomical offer for big lenders using the traditional lending of pen and paper.
Ability to scale faster and with low geographical challenges
Disadvantages of Mobile lending