Leading fintech company Mukuru has partnered with financial technology platform JUMO to introduce a responsible AI-powered credit solution in South Africa, aiming to expand access to affordable financial services for underserved communities. The collaboration marks a significant step toward leveraging artificial intelligence to promote financial inclusion and responsible lending across the country.
The new credit solution will enable Mukuru customers to access tailored financial products—such as microloans—directly through the Mukuru platform. By integrating JUMO’s advanced AI-driven risk assessment technology, the system can analyze real-time customer data to determine creditworthiness more accurately, reducing reliance on traditional credit histories that often exclude many low-income earners.
Both companies share a vision of creating a more inclusive financial ecosystem. Mukuru, one of Africa’s leading money transfer and financial services providers, serves millions of customers across the continent who rely on remittances and mobile money. JUMO, on the other hand, specializes in using machine learning and big data to deliver credit and savings products to emerging markets. Together, their partnership combines Mukuru’s extensive customer network with JUMO’s AI technology to offer scalable, responsible credit access.
The initiative also emphasizes responsible lending practices, ensuring that credit is extended based on users’ actual ability to repay, thereby reducing over-indebtedness. Customers can expect transparent terms, fair interest rates, and instant access to funds via their mobile phones.
This partnership reflects a broader shift toward using AI to drive sustainable financial inclusion in Africa, where millions remain unbanked or underbanked. By harnessing technology and data ethically, Mukuru and JUMO are setting a new standard for digital credit solutions that empower rather than exploit.
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