Kenya stands as a beacon of innovation in the realm of mobile money.

With an astonishing 97% mobile money penetration rate, it's a cashless society in the truest sense. This digital revolution has not only transformed everyday transactions but has also opened up new avenues for financial inclusion.

However, the traditional credit scoring system, built on a foundation of credit card data, struggles to keep up in this mobile-first economy. Many individuals and businesses, particularly those operating in the informal sector, find themselves excluded from traditional bank loans due to their lack of a visible credit history.

Companies like Branch are leading the charge in addressing this challenge. By leveraging the vast trove of data generated by mobile money transactions, they're developing innovative credit scoring models that paint a more accurate picture of an individual's financial behavior.

This alternative approach is a game-changer. It opens the door for the previously excluded, empowering them to access the credit they need to thrive. Imagine a small business owner in Nairobi, finally able to secure a loan to expand her inventory, thanks to her consistent mobile money purchases. Or a young entrepreneur, finally getting the funding to launch his innovative app idea, all because his on-time utility payments were recognized as a sign of financial stability.

For of those of you, who are skeptical - according to a recent study by the FSD Kenya, Branch's credit scoring model has been instrumental in providing loans to over 3 million Kenyans who were previously excluded from traditional financial services. The average loan size is approximately KES 2,000 with a repayment rate of over 95%.

These numbers are a testament to the impact of Branch's approach. By providing access to credit, they're empowering individuals and businesses to invest in their future, create jobs, and contribute to economic growth.

Moreover, Branch's focus on financial literacy and education is playing a crucial role in promoting responsible borrowing and financial well-being. By providing borrowers with tools and resources to understand their creditworthiness and manage their finances effectively, Branch is fostering a culture of financial empowerment.

Lastly, by leveraging the power of mobile money data, companies like Branch are democratizing access to credit. It's a shift that not only benefits individuals but also injects a much-needed boost into local economies. This is financial inclusion at its finest, and it's rewriting the rules of credit scoring for the developing world.