L-Pesa has harnessed these market forces and built technology and a proprietary credit scoring model that allows it to quickly scale microlending in developing countries while keeping loss ratios below 10%. The solution is highly automated, allowing a small back office team to support high volume loan origination. All loans are serviced by L-Pesa.
The term Microfinance is a financial sector activity in the form of fund raising and lending or financing on a micro scale with a simple procedure for the poor and / or low income. Microfinance has been recognized as an effective instrument in tackling poverty in many countries. Not only at the national level, even the United Nations world agencies recognize and have declared 2005 as the International Microcredit Year. The concept of microfinance includes financial services such as credit or financing, savings, and security for the poor in economic activities and the fulfillment of their life needs.
However, traditional microfinance has limited reach, and solutions have been targeted to poor farmers and small business owners. Middle-class consumers and business owners in developing countries have unfulfilled credit demands, but the current financial infrastructure in these countries does not support underwriting credits.
L-Pesa has a strong focus on automation. 95% of the user acquisition and loan underwriting process is automated and therefore extremely scalable. The company has spent two years developing its customer-facing and back office systems using a team of seven software developers. The user experience is based on mobile and web interfaces, and marketing is primarily accomplished via social media and SMS.
ABOUT L-PESA
L-Pesa creates blockchain-based, smart contract loans enabling people across the internet to grow their businesses and become thriving entrepreneurs. Hopeful visionaries can take loans in Ether or Bitcoin and then participate in L-Pesa’s curated marketplace facilitating peer-to-peer lending: the first crypto loan service in Africa.
VISION
Our vision is to improve people's lives through efficient access to credit and related financial services.
MARKET PROBLEMS
+ Lack of bank credit
+ Microfinance targets agriculture only
+ Outdated operating models
+ Microfinance targets the poor only
+ Most consumers are unbanked
THE L-PESA SOLUTION
The new tool allows the storage of large amounts of data and extensive data analysis at a small cost from a few years ago. Advances in artificial intelligence provide new opportunities for automated loan guarantees. Blockchain technology enables faster, safer, and cheaper exchange of values.
Alternative Credit Data
L-Pesa has developed a unique exclusive credit rating model based on user behavior combined with traditional and alternative credit data.
Mobile Technology
Mobile finance services such as M-Pesa have been available in many countries and support both quiet and unreachable sectors. Based on market penetration of mobile phones (smartphone and feature phone), mobile money services such as M-Pesa, Tigo Pesa, and Paytm have grown very rapidly and have enabled L-Pesa.
Biometric identity
Traditional microfinance relies on a wide branch network because identity verification is not possible online and is difficult to do privately. Biometric IDs will result in dramatically reduced costs and the ability to provide financial services without a physical branch network.
THE PROCESS OF L-PESA
- Users register accounts in L-Pesa, often respond to social media messages or SMS marketing messages.
- Users add documentation to their L-Pesa account, usually identification documents such as driver's license or passport.
- L-Pesa staff verifies identity. Most of the work is automatic
- User submits an initial loan application, usually for the local equivalent of $ 1.00.
- The next loan application is handled in the same way that is automated
- Once the loan is approved, disbursements are processed in real-time using mobile money services such as M-Pesa or Tigo Pesa.
- Users are given a payment plan and are expected to make periodic payments on the loan. Repayment is also done by using mobile money service. Users can make prepay without penalty. Payment arrears will impact the user's credit score and will generate an automated message to the user. Handling delinquency is very efficient, resulting in a loss ratio of less than 10%.
- User support is handled by the L-Pesa back-office team in Tanzania. User support is available in English and Swahili via social media, email and phone channels.
ABOUT LPK L-PESA TOKEN
The token distributed during the token launch is known as the LPK. The LPK token is a standard ERC20 token (on the Ethereum platform) that allows one to use the LPK applications. The utility unlocked by the LPK token is the ability to participate in token offerings of LPK project, get access to functionalities only unlocked through the use of the token that is exclusive to the L-Pesa network. Participation by members is the key to the LPK platform. Over time, more functionality will be released that helps increase network utilization through tokens for the benefit of the network.
DETAILS OF TOKEN SALES
Token Sales Schedule April 10, 2018
Purchase of Ethereum Token, Bitcoin
Total Supply Tokens 2,600,000,000 LPK
TOKEN SALE TIMELINE
ALLOCATION
TOKEN DISTRIBUTION
TEAM
ADVISORS
FOUNDERS
PARTNERS
More information about L-PESA (Kripton) you can visit link:
Website: https://kriptonofafrica.com/Whitepaper: https://kriptonofafrica.com/static/pdfs/L-Pesa%20ICO%20white%20paper%202018.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=2910183.0
Twitter: https://twitter.com/lpesaico
Facebook: https://www.facebook.com/lpesaico
Telegram: https://t.me/LpesaICO
Medium: https://medium.com/@lpesaico
Thank you for reading my review of The L-PESA (Kripton). See you in my next review.
Author: ardctsMy Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1197108
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