Jali Finance, a leading provider of motorbike loans, has finalised the acquisition of Koi Pay, a dynamic fintech firm specialising in innovative software solutions for seamless integration of services among institutions.
The strategic move by Jali Finance aims not only to bolster its growth trajectory but also to position itself as a pivotal hub for cutting-edge fintech services.
It is also poised to enhance customer experience at Jali Finance, ensuring swift service delivery while concurrently driving profitability through a projected fivefold increase in service efficiency.
As part of the acquisition of Koi Pay, Jali Finance absorbed its talented workforce and technical experts, fortifying its technological capabilities.
Felix Nkundimana, the CEO of Jali Finance, emphasised the institution's strategic vision to evolve into a fintech powerhouse, necessitating collaboration with leading tech-savvy entities. He underscored Koi Pay's alignment with their objectives, leading to the seamless integration of the two entities.
"We're consolidating under one unified company, dissolving Koi Pay, and integrating its skilled workforce. Our aim is to be a great company that offers fast and efficient services," he affirmed.
He highlighted the transformative potential of their advanced technology in addressing prevalent industry challenges, such as cumbersome paper-based systems and the complexity of traditional loan repayment methods.
"The adoption of our innovative technology ensures not only rapid, integrated services for our clients but also operational efficiencies and error mitigation," Nkundimana elaborated.
Furthermore, he outlined the profound impact of technology on exponentially expanding client reach and service capacity, enabling each employee to cater to a larger clientele base with enhanced efficacy.
"In addition to expedited services, our clients will benefit from self-service options, reducing the need for physical visits," he added.
Frank Mugisha, the former CEO of Koi Pay, assured clients of a seamless transition, emphasising the enhanced service offerings under Jali Finance's stewardship.
"Our clients can expect an elevated service experience, leveraging Jali Finance's market expertise and technological prowess," Mugisha reassured.
He commended the collaborative efforts over the past three years, culminating in robust platforms that revolutionised service delivery for partner institutions. Jali Finance has facilitated motorbike loans for over 5,000 individuals, with projections indicating substantial growth by the end of 2024.
Nkundimana underscored the high repayment rate and customer satisfaction levels, signaling the company's commitment to financial inclusivity and responsible lending practices.
Jali Finance aims to diversify its service portfolio, including offering car loans, low-interest personal loans, and facilitating fuel transactions.
Additionally, expansion plans into international markets are on the horizon, leveraging their innovative technology to enhance service delivery globally.