Loandisk has carved out a niche for itself in the crowded loan management software market. Since launching in 2015 from their Sydney, Australia headquarters, they’ve built a strong reputation among African lenders.
Loandisk’s client list is impressive, with over 600 users from a wide range of lenders, including microfinance organizations, established banks, and everything in between. They’ve even gained traction in nearly 40 countries around the world.
This diverse clientele includes lending companies, cooperatives, banks, pension funds, Savings and Credit Co-Operative Societies (SACCOs), auto loan companies, payroll loan companies, and even investment firms.
What makes Loandisk so popular? It boils down to three key things: it’s simple, efficient, and affordable. So, why switch to Lendsqr?
Lendsqr offers some tempting reasons to switch, especially for smaller lenders.
Feature read: 10 intriguing facts about Lendsqr
You may be feeling the financial pinch
The first, and potentially biggest, reason is cost. Loandisk’s dollar pricing can be a burden for African lenders, especially when exchange rates fluctuate wildly. Every currency swing can negatively impact your bottom line.
Loandisk’s current pricing sits at $298/month to access an account with unlimited users, unlimited loans, unlimited savings accounts among a long list of other features. Lendsqr offers a comparable platform with the same features for N200,000 ($200). That’s a massive cost saving, particularly for smaller lenders.
Here’s the thing: Loandisk might seem affordable upfront, but the true cost can quickly escalate when you factor in additional features. Integrating data access or other functionalities can become expensive add-ons. Lendsqr takes a different approach, offering a more comprehensive set of features at a lower total cost.
In terms of functionality, Lendsqr is significantly superior
Feature for feature, Lendsqr surpasses Loandisk in almost every aspect (except accounting, which admittedly isn’t our main focus). Even Loandisk’s existing accounting features might be considered a bit basic.
From robust loan origination and flexible repayment options including card, virtual account and direct debit payments, to a sophisticated loan decision engine; Lendsqr empowers you to make smarter decisions and grow your business.
Check out more comparisons in this article on Lendsqr vs Loandisk.
Thinking about moving to Lendsqr?
Now you’re convinced that Lendsqr is the right fit for your business, simply reach out to us at support@lendsqr.com. But first, you should know what you can move.
Your customers: You can effortlessly transfer your customer information, including contact details, loan history, and financial profiles. This ensures you can provide a continuous experience for your customers and removes the need for manual data entry.
Your loans: You can easily migrate your existing loan data, including loan amounts, interest rates, repayment schedules, and outstanding balances. Lendsqr will manage your entire loan lifecycle, from origination to disbursement and repayment.
Your savings: If you also offer savings accounts, Lendsqr can bring your loan and savings management together in one place.
Your transactions: This includes loan disbursements, repayments, interest accruals, and any other relevant financial activities within your system, so you’re not leaving any relevant information behind in your former loan management system.
Added bonus: The migration process is free
There’s no financial barrier to making the move to a more affordable and feature-rich platform because we have a custom migration program that’s free and available to any lender who wants to switch to Lendsqr.
Our team of experts will work closely with you to ensure every aspect of your data is migrated securely and accurately. We’ll handle everything from customer profiles and loan details to transaction history and savings information. This minimizes downtime and ensures you can start using Lendsqr’s powerful features right away.
There’s more in store for you when you migrate from Loandisk to Lendsqr:
Full digital banking platform that enhances your proposition to your customers
Lendsqr goes beyond just loan management, giving you a complete digital banking platform. This makes your business more attractive to customers.
You can offer them a wider range of financial services in one place, making things easier and more convenient for them. For example, you could offer features like savings accounts, money transfers, bill payments, and even financial education tools – all on a single platform.
This one-stop shop approach can help you build stronger relationships with your customers and keep them coming back for more than just loans.
Your payment systems and workflows integrate automatically
Lendsqr automatically connects to your existing payment systems. This means your loan repayments and other financial transactions automatically move into the platform, without needing anyone to enter them by hand.
This saves you time and money on manual work, reduces errors, and makes things run smoother overall. Plus, automatic data entry ensures your financial records are always accurate and up-to-date, which is important for regulatory compliance.
Feature read: How to use Flutterwave with Lendsqr for loan repayments
Smooth transition of your existing customers to your new platform
We understand the importance of making the switch to the new platform easy for your current customers. We’ll provide you with several ways to communicate the change clearly. You can send informative emails, SMS notifications, or even messages directly through your existing app.
Explaining the benefits of the new platform in advance will help reduce any disruption and make sure your existing users have a positive transition experience.
Your platform can also be set up to automatically update your customers’ payment methods and account information. So, there’s no risk of confusion, and payments will continue to process smoothly.
New customers coming onboard will automatically be directed to the right platform from the start, creating a trouble-free experience.
Everything will be in sync
Lendsqr centralizes your entire loan portfolio and customer data together in one place. So, you won’t need to manage data in multiple systems, which can be confusing and prone to errors.
Having everything in one location makes it easier to generate reports, track how your loans are performing, and spot trends. You’ll have a complete picture of your entire loan portfolio and customer base, so you can make smarter decisions about your loan products, who qualifies for loans, and how to reach new customers.
Smart lenders use Lendsqr loan management software
For whatever reason you decide to migrate from Loandisk to Lendsqr, rest assured that the grass is greener on this side. These benefits highlighted above are only a few of what we have in store for you.
So, instead of second guessing, reach out to us at growth@lendsqr.com to get started.
