By John Chola
MTN Mobile Money Managing Director Komba Malukutila has unveiled the company’s Adaptive Hybrid Loan Recovery Approach, a customer-centered initiative designed to ease the burden of traditional automatic loan repayments.
The new solution provides a blend of automation and flexibility, giving customers more control over their financial commitments.
Currently customers who borrow money from MTN Mobile money platforms have their funds automatically swallowed if their loans have asked the due date of payment.
This innovative approach is a response to challenges faced by some customers under the current system of automatic deductions, particularly during periods of financial strain.
Recognizing the diverse financial journeys of its users, MTN Mobile Money aims to create a more adaptable and inclusive repayment process.
Key Features of the Hybrid Loan Recovery Approach
1. Flexible Automated Collections: Customers can now tailor the timing and frequency of automated deductions, reducing the risk of unexpected withdrawals and giving them greater control over their Mobile Money wallets.
2. Call Centre Agent Support: MoMo call center agents will provide personalized guidance, helping customers navigate repayment schedules and offering real-time support tailored to individual needs.
3. Reduced Financial Strain: The approach is designed to ease the stress of repayments, empowering customers to meet their obligations without undue pressure and lowering the risk of default.
Speaking about the initiative, Malukutila highlighted the importance of flexibility and customer empowerment.
“We know each customer’s financial journey is unique, and a rigid repayment process can sometimes add unnecessary challenges,” he said adding, “With our Hybrid Loan Recovery Approach, we aim to offer customers more flexibility, support, and peace of mind. By giving them control over their repayments and ultimately their Mobile Money wallets, we’re helping them take positive steps toward financial stability and fostering a more inclusive credit environment.”
He said the Adaptive Hybrid Loan Recovery Approach underscores MTN Mobile Money’s commitment to customer-centered solutions, enhancing financial confidence and promoting inclusivity in the credit space.
