Shivani Siroya is the founder and CEO of Tala, a smartphone lending app designed to provide access to credit to an estimated two billion people who have been historically overlooked by traditional financial institutions. Shivani’s company has lent more than $1 billion to 4 million customers who use the funds to build businesses, homes, and improve their lives.
Tala solves a global problem. Roughly a third of the world doesn’t have access to credit because they don’t have credit scores. Taking advantage of increasing mobile phone use in emerging markets, the Tala app uses behavioral data on the phone – texting, merchant history, overall app usage – to build a credit profile. Based on the aggregated information, algorithms evaluate individual risk and provide instant loans to customers.
Shivani is an Aspen Institute Finance Leader Fellow, a World Economic Leader (WEF) Young Global Leader, Senior TED Fellow and Ashoka Fellow. She is also on the board of Stellar.org, a first-of-its-kind open market for storing and moving money.