Financial Service Platform, Mkopo Rahisi rebrands to Tala

Mkopo Rahisi has relaunched as Tala, according to an announcement by senior company officials this morning in Nairobi.

Tala will build on the momentum of Mkopo Rahisi and offer a similar, customized lending experience. Anyone with an Android smartphone (from android 2.3) can download the Tala application and receive a credit decision where Tala will gather more than 10,000 data points from customers’ mobile phones to make its credit decision and send loans directly to customers’ mobile money accounts(One has to have a Safaricom sim as it only sends money to you M-Pesa).

Tala will offer a more seamless loan application process and an easy way for customers to check their credit limit. Additionally Tala will help customers learn from its community by sharing similar customer experiences which will be available even to customers who aren’t initially approved for loans.

“Our ultimate goal with Tala is to be a true financial partner to our customers and give them choice and control over their financial lives,” said Shivani Siroya, CEO Tala. “Thousands of Kenyans have already expanded their businesses or invested in their futures because of the credit we’ve helped them access. With our new platform, we’ll be able to reach even more people with financial services that are fast, fair, and flexible,” she added.

“We hear constantly from our customers about the financial services they need and the steps they want to take to build their futures,” said Amanda Donahue, Tala’s Vice President for East Africa. “Tala is a direct response to that feedback, continuing everything our customers love about Mkopo Rahisi while also offering a new suite of features and services.”

Tala offers loans up to 50,000 Ksh, and will continue to add new financial services and opportunities in the coming months.