Digital Credit: Borrower Experiences and Emerging Risks
The advent of digital credit has extended access to instant, automated, remote credit to millions of borrowers. But who is accessing these loans? How are borrowers using the money? And to what extent are we seeing risks emerge such as late repayments and defaults, lack of transparency in loan terms and requirements, and debt stress or over-indebtedness? This blog series will shed new light on these largely unanswered questions, sharing evidence from CGAP's large-scale surveys of digital borrowers in Tanzania and Kenya and other sources that provide insight on consumers' experiences with digital credit.