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TallyKhata Platform for msME Lending
We have a great opportunity to improve the credit system in Bangladesh using digital data, credit scoring, and artificial intelligence.
TallyKhata is integrated with a digital wallet named TallyPay under a payment service provider (PSP) license from Bangladesh Bank. The wallet is opened using BB e-KYC guidelines with online verification against the national ID database. This wallet provides a complete digital payment solution for small businesses such as accept in-store QR code payment and online payments, collect dues from customers, pay utility bills, and make payments to suppliers and distributors.
TallyKhata is ready to collaborate with banks and provide an end-to-end digital lending platform for micro and small enterprises (msEs), especially micromerchants. It is a complete solution consisting of origination, underwriting, disbursement, repayment collection, portfolio monitoring, and collection assistance.
TK collects more than a thousand data points on businesses using sources such as cash-flow data, transaction data, owner KYC, shop photos, utility bills and major FMCG invoices. TK generates a credit score for each applicant using advanced data analytics and artificial intelligence. A digital lending portal (DLP) is provided to bankers where they can view loan applications including key business KPIs, credit score and business profile, conduct loan assessment, communicate with applicants, take underwriting decisions and even activate loans and disburse funds. DLP may be customized to include the bank's own assessment mechanism with integration to its credit management and core banking systems.
After a lending decision is made, a borrower can access the loan fund using own bank account or directly using the TallyPay wallet (tallypay.net)
Apart from acquiring new loan customers, TallyKhata also helps banks in loan repayment by sending timely in-app payment reminder messages to the borrowers. Both bankers and TK back-end team monitor the portfolio performance using a dashboard, and intervene when certain borrowers' repayment become irregular. TK field officers may also visit the borrowers to assist in repayment collection if and when required.
TallyKhata was recently selected by the Visa APAC accelerator program 2022. TallyKhata is the first Bangladeshi fintech to be selected in this prestigious cohort. TK is working with local banks to issue Visa virtual cards for cash-flow based working capital loans to micro-merchants.
Learn more https://www.tallykhata.com/
learn more https://tallypay.net/
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