For example, today financial technology can support access to credit through innovative approaches to gathering and analyzing data. Historically, a customer seeking a loan has provided financial statements to a bank or other traditional lending institution.
These developments necessitated a tighter monetary policy stance, which was delivered by way of repo rate increases totalling 400 basis points during 2002. But we are now back on track… We are, however, pleased to say that the pressures that we faced then were relatively short-lived.