balaBNKJordan

Overview About balaBNK

Company Brief

balaBNK is a lendtech that offers sharia compliant nano loans against proven earned income to give people instant access to cash to deal with unexpected expenses.

The platform integrates with the domestic financial ecosystem and official sources of information and funnels the data into our proprietary credit scoring engine that takes into consideration multiple dimensions including income, employment history, credit history, age, marital status, education level, and many more factors, which automates the lending process from A to Z.

 

Product

An easy to use localized app that automates the whole customer journey from digital onboarding, credit scoring, loan disbursement, repayment, referral and loyalty points. The security and compliance provisioned into the system and rich feature set are engineered towards introducing a digital lending ecosystem that shall enable group lending, community based lending, and buy now pay later moving forward.

 

Business Model

Transaction fee ranging from $5 to $10 per transaction.

 

Industry

Fintech

 

Target Customer

Salaried customers with proven income ranging from $400 to $1000 per month