Digital lender mulls new products as cost of living squeezes borrowers

The majority of those who borrow from Tala spend the money on savings. [iStockphoto]

Digital lender Tala is mulling new products that would cater for the utility needs of borrowers as it revealed the cost of living as the current leading financial challenge for many.

In its Money March Report released on Monday, findings also show a drop in the number of individuals in full-time employment with an almost similar rise in those who are unemployed, on contract, part-time job or in business.