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Housing Finance Group yesterday launched their digital financial services platform aptly named HF Whizz. The Group which started out as a mortgage company some 52 years ago is on the verge of transforming into a multi-dimensional digital financial services company and the mobile app is just a tip of the iceberg.

HF Whizz just as its name suggests, intends to make your banking that much easier. They intend to do this by making banking more fast and convenient than it already is. Case in point, the app lets you open a fully operational account in under a minute. The beauty of it is that unlike other apps, one does not have to go the bank so as to be able to verify the account. Also depositing money from Mpesa is a breeze in that they have linked the app to your Mpesa so it saves you time and the need to remember and type in your account as well the bank’s paybill. This is a relief to me as one wrong digit can land the money in someone else’s account and having it reversed is usually an uphill task.

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The app is mostly targeted at the young hustler and the micro entrepreneurs basically the mama mbogas around us. These are the people who normally don’t have time to visit the traditional bank hence require an app which offers convenience. Being that their target audience is composed of entrepreneurs, the app will also be giving out soft loans. This is because entrepreneurs need a helping hand at one time or another. This is because this group sometimes face cash crunches due to the fact that they sometimes have to supply goods on credit which normally takes about 30 days or more to be paid. During this time, bills have to be paid and one has to restock. As such loans become the easiest bet because family and friend may not always have the funds or be willing to assist. The HF Whizz App allows you to apply for a loan from the comfort of your home or office wherever that may be.

In as much as they might be offering loans to entrepreneurs, Housing Finance supports responsible lending. As such, when you as the entrepreneur, applies for a loan, they will take time to check whether you have other loans out there. In the event that you have an outstanding loan with other providers, your application will most probably be declined. This I think is a good principle both for the entrepreneur and the bank and I laud them for that. The interest rate for the loan if you are eligible will be 7.725%. The loan amount will depend on your transactions on the account and Mpesa.

If you haven’t copped the app, head over to the Google Playstore, download it and start banking in a Whizz!!