Pngme has partnered with Kenya-based fintech Lipa Later, according to the official press release.
Lipa Later is a Nairobi headquartered fintech company that reportedly provides affordable and convenient Buy Now, Pay Later services across Kenya, Uganda, Rwanda, and Nigeria. Lipa Later will use Pngme’s Data Products and Data Science Services to improve their ability to acquire and process traditional and non-traditional financial data on their customers as well as improve underwriting and customer analytics capabilities as they expand into Tanzania and Ghana.
The partnership aims to improve Lipa Later’s loan approval process, expand services to thin file customers, and reduce overall default rates. The company has seen an overall default reduction rate of 21% with our existing customers and we aim to build on that success with Lipa Later.
Lipa Later has gained traction in Kenya and is looking for a partner to support its expanding market footprint. Pngme will provide the base infrastructure to build innovative systems that acquire and analyse user data. With Pngme’s technology, Lipa Later will be enabled with rich customer data from the moment they launch and be able to build a data moat that accelerates customer acquisition and derisks their operation in key new markets.