Mombo savings and Credit Co-operative Society Limited is Kenya's first and only regulated mobile-first SACCO in Kenya. Registered in 2015, the SACCO targets Kenya's youthful urban mass market segment.

This solution allows for E2E self onboarding by customers. This is possible by an automated identity/ KYC solution that integrates government population database and credit reference bureaus to validate customer data and conduct a seamless KYC process.
Once onboarded, the customers have access to financial planning education before setting up their financial and personal goals on the application. They then set a target for each goal and can start saving/ investing for their choice goals using Mpesa.

As the name suggests, Mombo Sacco is a savings and credit society. To expand the lending space for individuals previously considered "thin file" or "risky" when traditional Saccos used binary credit data. We built a scoring engine that applies unconventional rich data to the core underwriting model. Each customer develops their credit profile which influences their loan interest rates. Further, the application rewards timely repayments with better credit ratings and discounts on interest rates. In addition, members build communities that motivate and hold each other accountable by offering guarantees to members who seek access to loans/ facilities.

As a result, our loans are very cost effective to the customer and ensure that Mombo Savings and Credit Society has lower than industry loan default rates.

Follow as @mombosacco