Zenka introduces cash rewards for new customer referrals

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Zenka Finance
PHOTO/COURTESY

Zenka Finance has unveiled a referral program on its digital lending platform, where users get cash rewards for inviting friends to try out its services at no cost.

The firm will reward its customers with up to Ksh. 300 in cash rewards for every new successful sign-up. Users will be able to transfer the reward earnings to individual M-PESA accounts after  successful on-time repayments from five friends they invite to try Zenka’s 0% loan offering available to first time borrowers.

“Zenka’s referral program has been created to give our customers the chance to benefit from our app’s features fully. They refer the app to their friends, we reward them for that; a win-win situation that works even if the customer doesn’t need a loan at the moment,’’ said Zenka’s CEO Duncun Motanya.

The latest offering rides on success of the company’s cost-free loan for first-time borrowers which have proved to be a successful model. Zenka is banking on its innovative financial solution and cutting-edge technology that offers superior user experience to crank up customer numbers in an increasingly competitive mobile lending market.

“The mechanics apply even when you do not have a loan at Zenka. This is definitely a unique offer on the Kenyan market,” Mr Motanya added.

The company targets under-banked Kenyans and aim at supporting growth of small business owners, entrepreneurs and tech-savvy consumers. The referral programme is based on customers’ behaviour patterns and expectations, verified in a dedicated research conducted by the fintech firm. Before launching the referral program, the company conducted internal researches to understand better customers’ preferences and needs.

“It helped us to adjust the offer and our program’s features to best suit customer expectations and reward them for choosing Zenka in the way they wanted to be rewarded,” said Mr. Motanya.

The CEO said profound insights are crucial in creating an effective referral program with a primary goal of strengthening the relations between the brand and the customer.  The program is a permanent feature whose benefits will be enjoyed by every new and returning customer provided they have downloaded the app from the company website or from Google Play Store and subscribed to the services.

Zenka Finance started its operations in Kenya in December 2018 and has risen to become a trusted financial partner to many Kenyans through its customer-oriented approach.

Last year, Zenka emerged the most preferred and fastest growing non-banking platform to turn the tables for well-established players on the market during the inaugural Financial Inclusion Awards ceremony held in Nairobi in August of last year. The company went on to win the award for most promising mobile loans platform in the Digital Tech Excellence Awards in December.

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