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When Simbrella pioneered its Air Time Credit service business back in 2005 lending a subscriber an airtime on the premise that they will pay back with a bit of premium, our company inadvertently stepped into Fintech in its pure definition – providing financial services (lending) via technological solution, in this case using telecom carrier as a channel and ecosystem.

Important to mention that the target audience was prepaid customer base, those who could not qualify to talk on credit by the MNO. Basically, Simbrella, via leveraging its scoring algorithm, its superb IT and integration teams widened the eligibility window for telecom provider, thus increasing the usage and bringing in additional income from interest sharing. Effectively Simbrella became a credit enabler, making its earnings from the bottom of telecom subscribers’ pyramid.

As a first project Simbrella’s successfully implemented micro lending service in a ‘top 10’ Nigerian bank, relying solely on previous, sometimes very limited payments history using dynamic scoring algorithm that was tested and perfected in telecom operations. Machine learning based black box algorithm processes swathes of data and enables split-of-the-second scoring and lending decision – agility quite unseen in slow paced banking environment.

And today, in a relatively short period, Simbrella’s current Fintech pipeline of projects scores 6 live operations and up to 5 more implementations to be launched within the next 6 months.