Eduloan chooses MoneyPhone to digitize lending operations, brightening educational outcomes
We are proud to announce that Eduloan, one of Zimbabwe’s leading microfinance institutions (MFIs), has partnered with MoneyPhone to digitize its lending operations. The organization will harness MoneyPhone’s Digital Loan Origination Solution to offer self-service loan applications to clients for the first time – widening access to vital financial assistance that helps people achieve their educational goals.
Eduloan is the leading education finance specialist in Zimbabwe, and has assisted more than 50,000 students since its inception. Founded in 2013, the organization offers financing for all levels of education, helping clients cover the costs of tuition, study supplies, accommodation and other learning-related expenses.
Making the move to digital loan origination will enable Eduloan to fast-track service delivery to customers across the country and make it easier for the organization to reach borrowers in remote areas, where it does not have a physical presence.
Eduloan plans to use the MoneyPhone Digital Loan Origination Solution to enable self-service loan applications via its website – allowing customers to apply for educational loans, anytime and anywhere. The organization expects the new approach to reduce the time and effort involved in loan origination – both for loan officers and borrowers – improving operational efficiency and shaping a better customer experience.
Knowledge Fodha, Head of Lending and Commercial at Eduloan, says: “MoneyPhone has the solution we have been looking for. We are excited that our clients will be able to access and enjoy our services better.”
Jan Vos, CEO of MoneyPhone, comments: “It is a privilege to partner with an organization like Eduloan that empowers learners with the financial support they need to realise their full potential. We look forward to helping them harness the power of digitization to improve the effectiveness and impact of their lending operations.”