Faulu Microfinance Bank is aiming to expand its Small and Medium Enterprise (SME) customer base by introducing new enterprise solutions.
The bank’s Head of Business Growth, Joshua Kittony, has stated that their Biashara Customer Value proposition (CVP), Blended Retail CVP, and Digital CVP are designed to enhance the customer experience nationwide.
Kittony emphasized the importance of SMEs in driving economic growth and explained that Faulu has been organizing Customer Engagement forums to educate customers about their revamped solutions.
The goal is to empower customers with the necessary financial tools to succeed in their endeavors.
The Biashara CVP offers tailor-made solutions for traders, including pre-approved loan limits. This is particularly beneficial for those who deal in fast-moving goods. Additionally, the Biashara CVP acts as a platform for mobilizing deposits, enabling customers to build their credit financial profile before accessing facilities.
The Blended Retail CVP is targeted towards salaried customers who also own side businesses. This CVP aims to provide consolidated financial solutions for all their needs, including working capital loans, trade finance, SME loans, and asset finance. The goal is to facilitate the expansion and sustainability of these enterprises.