Branch loan is a product of Branch International, which is a microfinance lending institution that operates in Kenya and other countries.
The Branch loan application is easy to download and use. It only takes a few seconds to sign up into the application and apply for a loan.
Once approved, the money is sent straight to your phone.
Advantages of Branch Loans
Branch loan products are designed to fit your needs.
Branch loans do not have late penalties or rollover fees.
A customer does not need a savings account to access use Branch loan app services.
Good credit history with Branch qualifies you for larger loans with flexible terms.
How does Branch loan works?
The Branch international loan application utilises machine learning algorithms to process numerous data entries and assess customers’ credit profiles, as well as, design tailored loan products.
The data is collected by accessing information on customers’ phone.
The information assessed includes:
1. GPS data Call logs
2. Text message logs
3. Contact lists
4. Mpesa activity
5. Handset details
6. Social network data
Note: Branch accesses this type of information by first requesting permission from the customer.
The company uses this information to verify a customer’s identity, as well as, to create a credit score for them. It also encrypts the data to protect the privacy of its clients.