Kenya based lending startup 4G Capital has received the silver award for the Responsible Digital innovator of the year. Global SME Finance Awards recognized the Fintech’s responsible lending metrics, which brought about exceptional performance in otherwise high-risk clients. At the same time, the award recognized 4G Capital’s mission to champion digital client data protection standards.
4G Capital has received the award at such an early stage in the company’s life. The six-year-old company combines 100% unsecured working capital and enterprise training for MSMEs. Furthermore, the company uses machine learning to deliver machine learning to understand customer fidelity and risk profile. Therefore, 4G can lend widely and achieve high collection rates, hence the award.
Moreover, part of the recognition owes to the company’s unique approach to data protection. The lending company believes in customer data sovereignty. Consequently, 4G is working towards levels of data protection similar to Europe’s GDPR. The GDPR emphasizes on lawfulness, fairness, and transparency in handling data.
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Speaking at the award ceremony, 4G Capital Founder and CEO Wayne Hennessy-Barret revealed that the company is planning to scale its expertise and tech to extend financial inclusion across Africa.
“We are now ready to use our technology and expertise to scale across Africa as we seek to tackle financial exclusion and unlock human potential where the global SME Finance Gap still stands at $331 billion. We look forward to sharing our journey with partners across the globe, and thank you for this award.” CEO Wayne affirmed.