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How AI Helps Tala Expand Financial Access to the Underbanked

Tala is a leading global financial platform whose AI-driven underwriting has distributed $5 billion in credit to nine million customers on three continents. These efforts have radically expanded financial access to individuals who have historically been underbanked, equipping what Tala calls the “Global Majority” with solutions to take control of their financial lives and bring millions into the global economy. In the face of 2023’s global economic headwinds, it added 1.2 million customers and experienced year-over-year revenue growth of 50%. It also introduced its first major product line, the Tala Wallet, which is a digital wallet that gives customers instant access to pay bills, store money, and send and receive money, without waiting in long bank lines. In the first six months of 2023, Tala gained more than 800,000 new customers, a 114% increase compared to the first half of 2022.

By Courtney Connley