The contracts are made in such a manner that even users repay the loans and quit, their data will still be retained and be monitized:
A significant issue with the fintech companies in Kenya, is that they keep access to the data. They keep the data—and, in some cases analyse it, even if the user has stopped being a customer of theirs, and has deleted their app. Branch is explicit that it keeps the data even after a user uninstalls the app, and admits it is possibly doing further analysis on it, “we have that right.”147 Tala encourages people, even if they have been rejected for a loan, to keep the app; if they do delete it, Tala retains their data. This is so that, if the customer returns later, they can reinstall the app, go through some simple KYC checks, and be able to borrow again148. M-Kopa, on the other hand, continues to collect data from the device even after the loan has been repaid149.
> On 30 Nov 2017, at 07:44, Admin CampusCiti <firstname.lastname@example.org> wrote:
> Thanks for sharing.
> This is very interesting. As a player in the sector I will be reading this report keenly. There’s is room for a player to come into this sector and leverage in the need for privacy without hampering the business model.
> Ali Hussein
> Hussein & Associates
> +254 0713 601113
> Twitter: @AliHKassim
> Skype: abu-jomo
> LinkedIn: ke.linkedin.com/in/alihkassim
> Blog: www.alyhussein.com
> “Discovery consists in seeing what everyone else has seen and thinking what no one else has thought”. ~ Albert Szent-Györgyi
> Sent from my iPad
> On 30 Nov 2017, at 3:17 PM, Mose Karanja via kictanet <