Matt Tengtrakool: Accessible Finance for Nigerian Individuals, Small Businesses
Matt: Thanks for having me, Spiffy! At Oban we are working to make fair credit accessible to individuals and Micro and Small Enterprises (MSEs) in Nigeria. Limited financial literacy and credit history in microfinance markets results in insanely predatory lending rates: 15-35% per month for borrowers. By providing an online microfinance marketplace and financial empowerment tools, we provide proxy credit scores that help ensure that borrowers can secure the best rates on their loans, improve their financial knowledge, and have a long term plan for credit.