Jumo is a full-technology stack for building and running financial services founded in 2014 by Andrew Watkins-Ball headquartered in Africa.
The company uses advanced data science and machine learning to create the fastest and leanest in financial services infrastructure.
Jumo partners use their technology stack to offer savings, lending and insurance products to entrepreneurs in emerging markets.
These next-generation products give anyone with a cell phone and mobile wallet access to unprecedented financial choice, enabling millions of people to prosper, build their businesses and drive economic growth.
They also have lending products that give entrepreneurs quick access to funds or asset finance. The loan amount, life cycle and repayment method can be configured to fit the needs of the individual.
Jumo has redefined banking services for a mobile, digital age, and has built a full technology stack to create financial services for everybody. They have an advanced data engine.
The advanced data engine runs machine learning algorithms on millions of mobile wallet, cell phone and transaction data signals every second.
They use these to build increasingly accurate credit profiles for people in emerging markets. These deep, data-driven insights allow us to shape services and product features to suit individual entrepreneurs and their specific circumstances.
Also, their banking technology is built from the ground up to be highly automated, their comprehensive banking system acts on the decisions informed by the data engine.
It enables us to focus on the essence of financial products and services, removing legacy constraints, complexity and lack of clarity and basically ensure this is done quickly, at a low cost, reliably and at scale. Also, their operating platform is quite flexible.
The startup aims to work together as a team to create ultra-lean banking technology that delivers financial services at a fraction of typical banking costs.