The Finolet Vision.
While the financial services industry has made great progress, there are still great
limitations to the way financials services are distributed. This is one of the key reasons
that only 10% of our country’s population has access to formal credit.
Access to financial services should be simple… It
People struggle to find the financial assistance they require. Unserved due to the lack of
reach. Unserved due to the lack of options, not knowing that when one lender says no, there
may be others who would happily lend. Unserved due to small ticket sizes. Unserved because
of the inability of systems and processes to match customer profiles with risk appetites and
lending models. Many are unable to enter the financial services mainstream because they are
not in the distribution mainstream. When in need, they don’t know where to go or how to go
about it. Unreached because it is so inconvenient. Unserved mostly because distribution
systems are legacy despite processing systems having turned digital.