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Tala Announces Strategic Investment From PayPal to Expand Global Reach

Zoltán Tűndik

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Tala, the leading consumer lending app in emerging markets, announced today a strategic investment from PayPal. The two companies share a commitment to building financial health, enabling all people to gain access to the digital economy. PayPal’s investment will help Tala bring visibility and access to underserved populations in emerging markets across the globe.

More than two-thirds of the world’s adult population has no formal credit bureau record, making it difficult for traditional financial services to understand and reach these consumers. Tala’s app, which can be accessed by anyone with an Android smartphone in Tala’s markets, analyzes device and behavioral data to instantly underwrite these consumers and create a personalized loan offer. Taladisburses loans between $10 and $500 USD to a mobile wallet or via payment method of the customer’s choosing. More than 85% of Tala’s customers receive credit in less than 10 minutes.

“At PayPal, we believe that everyone should have access to transparent, convenient and secure financial services,” said Mark Britto, Senior Vice President and General Manager Of Global Credit, PayPal. “Tala shares our vision of reimagining financial services, especially for the unbanked and those underserved by the traditional financial system. Tala empowers these people through innovative mobile solutions to improve their overall financial health and we are proud to help them achieve this goal.”

“Tala is driven by the belief that all people deserve to be seen, understood and trusted by the global financial system, and our goal is to leverage data and technology to help them prove their potential,” said Shivani Siroya, Founder and CEO, Tala. “We are excited to add PayPal as an investor to further our mission to reach more underserved consumers and deliver the financial access, choice and control they deserve.”

The new investment builds on Tala’s Series C financing, announced in April and led by Revolution Growth.

Tala currently operates in Kenya, Tanzania, the Philippines, and Mexico, and has launched a pilot in India. The company has delivered more than $500 million USD in credit to millions of customers. Talahas more than 300 employees across offices in Santa Monica, Nairobi, Dar Es Salaam, Manila, Mexico City, and Bangalore.

Co-founder, Editor - After accumulating enough experience by launching and building a successful media and events organizer company in the gaming industry, the opportunity to also move into more verticals just came naturally. I have hunger for knowledge and like to report on technology and news that are not picked up by main stream media channels because they don't produce enough emotions. Make sure you subscribe to read our hand picked news which you will only find on PICANTE!

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Banking/Financial Services

OKEx Launches Thai Baht (THB) and British Pound (GBP) OTC Trading

Vlad Poptamas

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OKEx Launches Thai Baht (THB) and British Pound (GBP) OTC Trading - Source: OKEx
Reading Time: 2 minutes

 

OKEx, the Malta-based world-leading digital asset exchange, announced to launch two new currencies – Thai Baht (THB) and British Pound (GBP) on its over-the-counter (OTC) trading platform (also referred to as fiat-to-cryptocurrency platform). Users in Thailand and the United Kingdom can now complete KYC verification to be eligible to trade on the OTC trading platform.

OKEx OTC trading allows users to place orders with self-selected exchange rate and payment methods to buy or sell Virtual Financial Assets with fiat currencies, which benefits them by offering a low-volatility market and zero transaction fee. Instead of the listing of the new currencies, Thai Baht (THB) and British Pound (GBP), OKEx OTC trading platform has already been facilitating global digital assets trading with the Vietnamese Dong (VND) and Chinese Renminbi (CNY) fiat-to-cryptocurrency markets, and more currencies are expected to come in at a later time this year. The Thai Baht (THB) and British Pound (GBP) OTC trading markets currently support BTC, USDT, ETH, and LTC.

“Our mission is simple at OKEx. We aim to offer flexibility and convenience to our traders. Thailand and the UK own the fastest growing crypto communities in the world. We see great potential in these two markets and want to support the needs there. Because of the increasing trading volume and number of traders in these two countries, we decided to launch the new THB and GBP trading services on our OTC trading platform. Wherever the market potential locates, we will expand to there. In 2019, you can expect more currencies will be supported on OKEx,” said Andy Cheung, OKEx’s Head of Operations.

OKEx OTC Network Launch Events and Promotions

To celebrate the launch, OKEx has come up with new incentives to encourage new sign-up for merchants and customers in Thailand and the UK. From January 23 to 27, newly registered customers can earn up to 50 USDT for making a minimum deposit of 100 USDT (or equivalent) and complete their first OTC transaction on OKEx, while the top 70 merchants with the most transaction volume will be rewarded 30 USDT (1 time per day).

In addition, the OKEx OTC Network Launch events will be hosted in Bangkok, Thailand on February 13, 2019 and London, UK in March respectively.

For more details, please refer to OKEx Twitter.

Risk Warning: Trading digital assets involves significant risk and can result in the loss of invested capital. Users should ensure that they fully understand the risk involved and take into consideration their level of experience, investment objectives and seek independent financial advice if necessary.

 

 

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Banking/Financial Services

Forrester: Customer Experience in the UK Stagnates With More Brands Becoming Mediocre

Vlad Poptamas

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Joana van den Brink-Quintanilha.
Reading Time: 2 minutes

 

Not a single brand in the UK has managed to rise to the top of Forrester’s Customer Experience Index (CX Index™) rankings or continued to move upward. Customer experience (CX) quality languished in 2018 as more brands become mediocre.

Forrester’s CX Index methodology measures how well a brand’s customer experience strengthens the loyalty of its customers. Based on a survey of 9,033 UK adult customers in 2018, Forrester benchmarked CX quality at 36 brands doing business in the UK.

Liverpool Victoria (LV=) confirmed its position as number one in the auto/home insurers category. Nationwide Building Society still topped the banks rankings in 2018 despite seeing its score stagnate, while new entrant Very.co.uk takes over Amazon’s position in the digital retailers category. John Lewis continues to be the number one multichannel retailer and while Tesco came out on top among wireless providers.

The percentage of UK brands making it into the good category fell from 31% in 2017 to just 14% in 2018. A staggering 86% now deliver OK experiences, which suggests customers are struggling to tell the difference between the experiences offered by competing brands.

The auto/home insurance and multichannel retailer industries saw their average score rise by a small but statistically significant amount this year. In contrast, the industry average score for banks fell by almost 4 points, with all but one of the seven banks seeing a statistically significant decline to their score. This year, the banks provided an average of seven emotionally positive experiences for each negative experience, down from 11 in 2017.

In fact, Forrester believes that emotion is key to the positive development of a brand. “Brands that want to break away from the pack should focus on emotion: How an experience makes customers feel has a bigger influence on their loyalty to a brand than effectiveness or ease in almost every industry,” says Joana van den Brink-Quintanilha.

Even a minor improvement to a brand’s customer experience quality can add tens of millions of dollars of revenue by reducing customer churn and increasing share of wallet. What’s more, customers with positive emotions are more willing to pay a premium price for the same products and services.

To learn more about how Forrester’s CX Index can help your business and register for a demo, please visit https://forr.com/2CvyfZh.

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Banking/Financial Services

Licensed Crypto Exchange Covesting Introduces Fiat Gateway

Zoltán Tűndik

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Reading Time: 1 minute

 

Covesting, a licensed European-based digital currency exchange and professional trading platform offering secure and technologically advanced infrastructure for investors and traders worldwide, has introduced the first stage of their fiat gateway and cryptocurrency converter. EUR deposits via wire transfer are now available.

Additional options for fiat deposits/withdrawals as well as the buying and selling of cryptocurrencies will be released in stages over the coming weeks.

Covesting’s Founder and CEO, Dmitrij Pruglo, spoke about the company’s latest update, saying:

“The launch of a fiat gatewayis yet another step towards our ultimate goal of being the most complete, secure and transparent cryptocurrency platform in the industry. Allowing retail and institutional clients to legally exchange fiat into crypto automatically gives Covesting an edge and puts us among very few exchanges who offer such a solution. There are hundreds or maybe even thousands of crypto-crypto exchanges out there, but few who offer a legally compliant bridge between crypto and the traditional world of finance. We will continue to monitor the market and adapt to the new reality while offering the most demanded tools for our users.”

 

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