Service Cops Limited, the technology partner behind Kwaata Sente, has pledged to continue investing in digital lending solutions as financial institutions increasingly turn to technology to expand access to credit.
The commitment follows the official launch of Kwaata Sente, a mobile-based credit solution launched in Kampala on September 27. The product brings together Centenary Bank, Airtel Money, gnuGrid Technologies and Service Cops to provide short-term credit to eligible Airtel Money customers.
Kwaata Sente enables customers to apply for loans through their mobile money wallets, with approved funds sent directly to their Airtel Money accounts. Borrowing starts at Shs10,000, depending on a customer’s eligibility, credit assessment, approval and individual borrowing limit.
Under the partnership, Centenary Bank provides the lending services, while Airtel Money provides the mobile money platform and customer network. gnuGrid Technologies supports the credit assessment process through digital credit-scoring technology, while Service Cops provides the technology infrastructure that manages the lending process.
Service Cops’ Vantage Loan Management System (LMS) supports key activities such as loan processing, disbursement, repayment tracking and portfolio monitoring. The system also connects the different platforms used by the partners, enabling loans to be administered through digital channels.
The service is intended to make borrowing more convenient by allowing eligible customers to access credit without visiting a bank branch or providing traditional collateral, subject to the product’s terms and approval requirements.
Speaking at the launch, Centenary Bank Managing Director Godfrey Byekwaso said the partnership would allow the bank to reach a wider customer base, including people who do not already have accounts with the bank.
“You don’t have to be a Centenary Bank customer to access these services,” Byekwaso said, pointing to the role of digital platforms in extending financial services to more Ugandans.
The launch comes as banks, telecommunications companies and technology firms increasingly collaborate to develop financial products that operate beyond traditional banking channels.
For Service Cops, Kwaata Sente adds to its experience in providing technology for digital credit products. Through Vantage LMS, the company supports different types of lending, including personal and business loans, school fees financing, education loans and other embedded credit solutions.
As digital borrowing grows, loan management systems are becoming increasingly important in helping financial institutions process loans, monitor repayments and maintain oversight of their loan portfolios.
Service Cops said it would continue to provide its technology expertise to Kwaata Sente while supporting efforts to build a sustainable digital credit ecosystem in Uganda.
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