Expand your lending business with customer incentives
How to

Expand your lending business with customer incentives

Human psychology indicates that human beings make purchase decisions based on emotions which are subsequently justified by rational suggestions. According to Simon Sinek, it’s easier to sell a product that’s emotionally charged. This is where incentives come in. Humans as consumers generally respond to incentives as a big motivating factor for their purchase decisions. The […]

What do borrowers want from lenders?
How to

What do borrowers want from lenders?

It’s a widely spread belief amongst lenders that handing over cash or processing loans faster is all that borrowers want. Unfortunately, lending is more nuanced than this. To have a deeper understanding into what drives Nigerians towards one lender or the other, Lendsqr conducted a survey to find out the preferences of borrowers in Nigeria. […]

Importance of credit scoring for loan decisions
Lending

Importance of credit scoring for loan decisions

“What if they don’t pay back?” If we had to compile a list of questions frequently asked by lenders, this would probably be top of the list. It’s the biggest and most terrifying question a lender is faced with when assessing a loan application. Lenders in Nigeria are constantly forced to confront the reality that Nigerians […]