JUMO provides a banking-as-a-service platform that utilizes artificial intelligence and machine learning to create accurate credit scores and tailored financial products for individuals without formal financial identities. By enabling real-time access to loans and savings at low operating costs, JUMO enhances financial inclusion for millions of underserved customers in emerging markets.
Funding
$120M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
FFounders
Product
Problem
Millions of individuals and small businesses in emerging markets lack formal financial identities, collateral, or credit records, making it difficult to access essential financial services like loans and savings. Traditional banking infrastructure often struggles to serve these populations due to high operating costs and risk assessment challenges.
Solution
JUMO offers a banking-as-a-service platform that leverages AI and machine learning to provide financial services to underserved customers. The platform integrates with eMoney and banking partners, enabling them to offer loans, savings, and other financial products to a new customer base. JUMO's technology assesses credit risk and builds accurate credit scores for individuals lacking formal financial identities. The platform's architecture provides end-to-end banking infrastructure, while its machine learning component, Unify, analyzes data to reduce the cost and risk of lending.
Target Audience
The primary target audience includes financial services providers, loan book funders, and eMoney operators in emerging markets seeking to expand their reach to underserved populations and generate new revenue streams.
Features
- AI and machine learning algorithms for credit scoring and risk assessment
- End-to-end, next-generation banking infrastructure
- Portfolio strategy and analytics tools for eMoney and banking partners
- Automated algorithms to prevent over-extension and ensure data privacy
- Real-time access to funds at low operating costs