The Fintek Business Model

Fintek's business model is an endless stream of nudges, exhortations and incitements to borrow. Unsolicited text messages interrupt people throughout the day, enticing those in need to borrow at extortionate rates. O cash took this logic of stigmatization even further, harvesting users contacts and calling boss's parents and friends to shame defaulters into repaying. It was a system lierally designed to use social shaming as a tool of o of dect collection. This is exactly how micro credit works in places like latin americand india where it was marketed as this huge thing that pulled so many people out of poverty.

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