Ashiri provides a platform that digitizes traditional thrift savings systems, enabling thrift collectors to manage collections, disbursements, and loan decisions through a user-friendly dashboard. This technology addresses the financial exclusion of millions of Africans by creating a transparent credit scoring system based on real transactional data, facilitating access to formal financial services.
Funding
Funding not disclosed
Founders
Product
Problem
Millions of individuals in Africa are excluded from formal financial services due to a lack of verifiable credit history. Traditional thrift savings systems, while reliable, operate informally, making it difficult for participants to access loans and other financial products from formal institutions. This lack of access limits their economic potential and perpetuates financial inequality.
Solution
Ashiri provides a platform-as-a-service solution that digitizes traditional thrift savings systems, enabling thrift collectors to efficiently manage collections, disbursements, and loan decisions through a user-friendly dashboard. By digitizing these informal savings systems, Ashiri generates transactional data that can be used to create credit scores for participants. This data-driven approach bridges the gap between informal savings and formal financial institutions, facilitating access to capital and other financial services for previously excluded individuals. The platform streamlines operations for thrift collectors, providing actionable insights and analytics to improve decision-making.
Target Audience
Ashiri's primary customers are thrift collectors and groups in Africa who manage informal savings systems, as well as formal financial institutions seeking to extend services to previously unbanked populations.
Features
- User-friendly dashboard for managing collections and disbursements.
- Automated loan decision support with integrated analytics.
- Credit scoring system based on real transactional data from thrift savings activities.
- Mobile application for easy access and management.
- Secure data storage and management.