Welcome toThe Digital Credit Providers Association.

The Digital Credit Providers Association of Kenya (DCPAK) is a registered society under section 10 of the Societies Act (REG NO: SOCA-8JT7EKY). As the umbrella body for fully licensed and regulated digital credit providers in Kenya, all our members comply with the stringent standards set by the Central Bank of Kenya, ensuring the highest levels of transparency, consumer protection, and responsible lending.

Contact Us.

Our Vision, Core Values, & Goals .

Vision:

To build a dynamic, customer-focused, and transparent digital credit ecosystem in Kenya that fosters trust, accessibility, and financial inclusion for all stakeholders.

Core Values:

Upholding Integrity, driving Innovation, championing Inclusivity, and maintaining Accountability to ensure responsible, fair, and sustainable digital credit practices.

Our Goals:

To promote ethical lending, regulatory compliance, consumer protection, and innovation in digital credit through collaboration and education.

About Us: The Digital Credit Providers Association


About the Digital Credit Providers Association of Kenya (DCPAK)

Introduction to the Association

The Digital Credit Providers Association of Kenya (DCPAK) is the national umbrella organization for fully licensed and regulated digital credit providers. DCPAK ensures that all members operate under the Central Bank of Kenya (CBK) guidelines, upholding standards of transparency, consumer protection, and responsible lending. As a key player in the digital lending ecosystem, DCPAK is dedicated to creating a secure, compliant, and innovative financial environment.

Vision: DCPAK strives to establish a robust, customer-focused, and transparent digital credit ecosystem that enhances financial inclusion and consumer trust across Kenya.

Core Values:

  • Integrity: Upholding the highest ethical standards in all operations.
  • Innovation: Embracing advancements in fintech to meet the needs of consumers.
  • Inclusivity: Ensuring financial services are accessible to all, especially marginalized communities.
  • Accountability: Promoting responsible practices to protect consumers and enhance trust within the industry.

Collaboration with Regulators and Stakeholders

DCPAK works closely with key regulatory bodies to ensure that members comply with national laws and regulations. These partnerships help shape a fair and transparent digital credit market.

Primary Regulators Include:

  • The Central Bank of Kenya (CBK): Provides oversight and regulates member activities.
  • The Financial Reporting Centre (FRC): Ensures compliance with anti-money laundering regulations.
  • The Office of the Data Protection Commissioner (ODPC): Oversees the protection and responsible use of consumer data.
  • The Competition Authority of Kenya (CAK): Regulates and promotes fair competition in the market.
  • Kenya Revenue Authority (KRA): Manages tax collection and compliance for financial transactions.

Beyond regulatory bodies, DCPAK partners with donor organizations, private capital providers, banks, diaspora investors, and fintech associations to create a thriving and well-regulated digital credit environment.

Global Partnerships

DCPAK extends its operations through a network of local, regional, and global partnerships, fostering collaboration that supports the sustainable growth of licensed digital lenders. These partnerships promote:

  • Security: Ensuring members adopt industry-leading practices in cybersecurity.
  • Financial Inclusion: Expanding financial services to underserved populations.
  • Innovation: Emphasizing the development of cutting-edge technologies to improve service delivery.

DCPAK’s global outreach strengthens the digital credit sector by fostering mutually beneficial relationships that prioritize consumer protection, data security, and financial inclusion.

Diverse and Licensed Membership

DCPAK represents a wide range of fully licensed digital credit providers, all regulated by the Central Bank of Kenya. This regulation guarantees safe, secure, and transparent lending practices for consumers.

Member Categories Include:

  • Mobile app loan providers
  • Auto logbook loan providers
  • Employee loan providers
  • Stock financing providers
  • Gadget finance providers
  • Machinery and motor vehicle hire purchase providers
  • Import duty financiers

By ensuring that members are regulated, DCPAK safeguards borrowers from unregulated lenders and offers them transparent lending solutions tailored to their financial needs.

Collaboration with Credit Reference Bureaus

DCPAK promotes responsible borrowing through its collaboration with Credit Reference Bureaus (CRBs). This partnership allows members to:

  • Support accurate credit reporting, providing consumers with transparent credit histories.
  • Promote responsible lending practices by sharing relevant credit data.
  • Help borrowers manage their credit health and improve their financial standing.

Why DCPAK is Important

DCPAK plays a pivotal role in Kenya’s digital credit industry by advocating for ethical standards, consumer protection, and compliance. It serves as a unified voice for licensed digital lenders, ensuring their representation in policy dialogues with the government and regulatory bodies.

DCPAK’s importance extends to:

  • Consumer Protection: Promoting fairness and transparency in digital lending practices.
  • Industry Standards: Setting benchmarks for security, customer service, and ethical conduct.
  • Advocacy: Representing members’ interests in regulatory and policy matters.

Objectives and Goals

DCPAK is committed to protecting consumers, promoting innovation, and advocating for the digital credit industry’s sustainable growth. Some of its key objectives include:

  • Standardization: Ensuring that all members operate ethically and protecting borrowers from unregulated lenders.
  • Collaboration: Engaging with regulators, stakeholders, and credit reference bureaus to support compliance and enhance industry best practices.
  • Financial Literacy: Educating borrowers on responsible borrowing and informed financial decision-making.
  • Innovation: Encouraging the adoption of advanced technologies to ensure data privacy and improve service delivery within the digital credit sector.

Member Benefits

DCPAK provides numerous benefits to its members, empowering them to grow and thrive within a regulated, innovative, and secure industry. These benefits include:

  • Advocacy: Representing members in regulatory and policy discussions, ensuring their voices are heard.
  • Networking: Connecting members with key players in the financial and fintech sectors for strategic partnerships.
  • Capacity Building: Offering training and development programs to enhance operational efficiency and industry knowledge.
  • Reputation: Being part of a trusted and regulated association enhances members' credibility and consumer trust.

DCPAK is dedicated to supporting its members by fostering an environment of trust, compliance, and innovation. Through collaboration, regulation, and continuous advocacy, the association is a key player in advancing the digital credit ecosystem in Kenya, ensuring that it is secure, inclusive, and consumer-friendly.

 

Membership Requirements:

  1. Must hold a valid license from the Central Bank of Kenya.
  2. Complete the Application Form.
  3. Membership fees: KSh 50,000 initial subscription fee, plus an annual fee of KSh 24,000.
  4. Be Up to date with the annual subscription fee.
  5. Adhere to the society's code of conduct.

Contact us