Earlier today, Wednesday January 24th Serena Hotel witnessed a historic event, the launch of Uganda’s inaugural Mobile Credit Score, a product of the groundbreaking collaboration between Airtel Mobile Commerce Uganda Limited. and gnuGrid CRB.
Speaking passionately at the launch, Mr. Japhet ARITHO, MD of Airtel Money, highlighted the transformative potential of the Mobile Credit Score.
He emphasized that this innovation allows lending companies to assess the creditworthiness of any customer in the Airtel database, breaking free from the traditionally lengthy credit evaluation process.
“Airtel Money holds data from 14 million wallets, empowering financial institutions to monitor credit scores and extend credit to customers,” stated Mr Japhet Aritho.
He elaborated on the significance of customer profiling, emphasizing the ability to aggregate transactions and financial behaviour, making credit information accessible through gnuGrid CRB.
In concluding his speech, Mr Aritho declared that the launch signifies a significant step towards financial inclusion. “We are unlocking potential, creating opportunities, removing financial barriers, and making dreams achievable,” he affirmed.
The Founder of gnuGrid CRB, Opio Obwangamoi David, echoed this sentiment, highlighting the collaboration’s role in introducing the first-ever indigenous mobile credit score system, thereby facilitating financial inclusion.
“I am excited to unveil a new digital innovation that will unlock numerous opportunities, particularly for those in the last mile.
Today marks a remarkable impact on the journey of financial inclusion, providing data not available to traditional banks for extending meaningful services to those traditionally excluded,” said Mr. Opio.
The event concluded with a keynote speech from Mr. moses ogwapus, Commissioner of the Financial Services Department at the Ministry of Finance, Planning, and Economic Development who commended gnuGrid and Airtel Money for their groundbreaking initiative, recognizing its potential to reshape the financial landscape and foster inclusive economic development.
