2023 was one of Tala’s strongest years yet. In the face of rising global inflation and other macroeconomic headwinds, we continued to provide value back to our customers, develop new seamless, affordable money movement tools, and expand financial access to the global majority.
Here’s a snapshot of our biggest highlights in 2023:
We launched the Tala Wallet and quickly gained over a million customers.
The Tala Wallet has equipped more than 1.1M customers since our official launch in April with access to borrow money, store money, pay bills, and send and receive cash instantly and seamlessly — all from their mobile phones. With these real-time money management features, customers gain the power to govern their own finances and establish financial stability.
We entered a new era of agile machine learning model delivery.
This year, we rebuilt our data + AI tooling platform to take full advantage of Tala’s proprietary data sets and enable Tala to continue expanding financial access and grow customer lifetime value. Now, end-to-end credit approval decisions for Tala customers, from application submission to decision, take less than three seconds. Advanced models for credit and fraud learn in real-time, meaning Tala can adapt quickly to changing customer needs and data availability. These advancements mean we are poised to scale rapidly and develop new advancements.
We crossed a new milestone of over 8 million customers worldwide!
In the first half of 2023, Tala gained over 800,000 new customers — a 114% increase compared to the first six months of 2022. Tala’s now more than eight million customers access nearly $100 million in origination per month. Tala bridges digital and cash ecosystems to help customers seamlessly manage their financial lives, processing nearly $200 million in transactions monthly.
We earned accolades for our innovation and excellence — and used those moments to advance the economic power of the global majority.
Tala was recognized for our industry leadership and innovation to make financial services more accessible around the world. Shivani Siroya championed the global majority on stages from the World Economic Forum to Fortune’s Brainstorm Tech. We were also named one of CNBC’s Disruptor 50 companies for the fourth consecutive year and one of Forbes’ Top 50 Fintech companies in the world for the seventh consecutive year.
We’re building a safer industry by empowering customers through education.
From partnering with CONDUSEF to make digital financial tools more widely available to monthly financial literacy workshops across our markets, we believe financial education is crucial for unleashing the economic power of the global majority. These measures together create a proven ecosystem of agency and access: we found that customers’ financial health increases as they use Tala, and they feel more confident about their future.
Over the course of 2023, Tala made significant strides to unleash the economic power of the global majority. We are harnessing the best of next-generation technologies to build trusted, real-world financial solutions. We can’t wait to show you what we have in store for 2024.