Best loan management software for Namibian lenders: Lendsqr vs. Delter IT

Imagine you’re running a lending business in Windhoek or Walvis Bay, and every day feels like juggling flaming torches. One misplaced step — say, a delayed repayment update or a borrower’s misfiled data — could mean a financial burn. In Namibia, where the lending market has grown significantly, with small and medium enterprises (SMEs) contributing nearly 40% to the GDP, efficiency isn’t just a buzzword. It’s survival. Yet, a large number of lenders in the region still rely on outdated methods or basic software that leaves them scrambling to stay compliant and competitive.

This article isn’t here to remind you of the chaos; you already know it. Instead, it’s here to help you decide between two platforms that claim they can turn your loan management into a smooth sailing experience: Lendsqr and Delter IT. But which one is actually built for the Namibian lending reality? Let’s get into it.

Also Read: Key providers for lenders in Namibia: Credit scoring, KYC, and payment

About Delter IT

Delter IT is a division of the Altron Group, established in 2002, specializing in software development for microfinance institutions. With years of experience in the micro-lending sector, the company has designed software tailored for businesses of varying sizes, from small single-office operations to large multi-branch organizations and banks. The company’s creditors management software supports different microfinance setups, offering the option to operate centrally over the Internet or locally within an office. This flexibility allows businesses to choose what works best for their structure and operations. Pierre Bezuidenhout, General Manager at Delter IT, oversees the company’s focus on providing practical tools for managing and growing micro-lending businesses. Delter’s approach reflects its understanding of the complexities in the microfinance industry and its aim to address them through technology.

About Lendsqr

Lendsqr, founded by Adedeji Olowe, focuses on simplifying lending and making it more accessible for lenders and borrowers. With offices in Wilmington, Delaware; Ruislip, London; and Nigeria, the company blends global technology expertise with a clear understanding of Africa’s financial landscape. The platform supports lenders in starting, scaling, and managing digital lending operations, offering multiple channels to connect with clients. Its integration with local payment systems ensures more people can access credit seamlessly. In April 2022, Lendsqr secured $1 million in seed funding, underscoring confidence in its mission to address credit accessibility in emerging markets. From loan applications and credit scoring to collections, the platform provides tools that streamline the entire lending process. At its core, Lendsqr is dedicated to expanding credit access across Africa and beyond, equipping lenders with the means to grow sustainably and reshaping the lending landscape in the process.

Also Read: How to get a lending license in Trinidad and Tobago

Getting started

Lendsqr provides a self-service model that allows lenders to sign up and start lending within minutes. This instant access to tools and features is perfect for those who prefer to set things up independently, avoiding lengthy setup processes. It’s a practical solution for smaller institutions and startups eager to get operational quickly. For larger organizations with specific requirements, Lendsqr adopts a consultative approach, working closely with lenders to design custom solutions that address unique challenges. This combination of quick-start accessibility and tailored support ensures that agile startups and established lenders can find a solution that fits their needs.

Delter IT, on the other hand, takes a different approach, requiring prospective users to schedule a demo consultation before exploring the platform’s capabilities. 

Channels and solutions

Delter IT offers a range of tools designed to support different lending operations. DELFIN, its onsite loan management system, handles the full loan process, including generating loan documents and contracts, authenticated collections, card payouts, credit bureau account updates, and credit checks. For lenders seeking a browser-based solution, WEBFIN provides an online creditors management system that requires no installation. It is easy to set up and customizable, allowing lenders to approve loans, manage clients, and view reports from anywhere. Complementing WEBFIN is WEBLOANS, an online loan application portal integrated with the lender’s website. This tool enables clients to apply for loans remotely while the lender manages the applications through WEBFIN, creating an uninterrupted process for both parties.

Lendsqr, on the other hand, delivers a full digital banking experience beyond traditional lending services. Through its web app, lenders can offer customers additional financial tools such as savings, investment options, airtime top-ups, and bill payments, all tailored to meet the lender’s specific needs. For mobile solutions, Lendsqr provides three adaptable options. The Progressive Web App (PWA) is an affordable and quick-to-deploy option, ideal for microfinance banks, and ready to launch within a week. The White-label App allows lenders to customize branding elements like colors, text, and logos to align with their identity. At the same time, the Fully Customizable App offers complete control over functionality and design for those with more specific requirements. To extend accessibility further, Lendsqr also offers a USSD channel, enabling borrowers with basic feature phones to access lending services, particularly in areas with limited internet connectivity.

Also Read: How to get a lending license in Sierra Leone

Verification and decisioning

Delter IT integrates credit checks through Compuscan and TransUnion, allowing lenders to conduct affordability assessments directly within the platform. These checks form part of the Affordability Assessment Guideline outlined by the National Credit Regulator (NCR) in 2015. The credit check provides a comprehensive consumer report, supporting more informed credit decisions. This process works on a reciprocal basis, meaning client and loan data are shared through the SACRRA data hub, making it accessible to all five consumer bureaus in South Africa. Delter also offers credit protection insurance as an add-on to loans, with a list of providers available upon request. To combat fraud, Delter incorporates biometric authentication, using fingerprint technology to ensure positive identification when granting loans or collecting payments, further reducing risk and ensuring security.

Lendsqr, on the other hand, provides a more flexible, tiered approach to verification with its Know Your Customer (KYC) configuration. Lenders can categorize borrowers based on the depth of information provided, which allows for more tailored lending decisions. In addition to standard document verification, Lendsqr offers customizable decision models that leverage over 100 risk parameters, giving lenders comprehensive tools to assess creditworthiness. One of its standout features is its proprietary liveness verification engine, designed to improve identity verification while cutting costs. Additionally, Lendsqr’s mobile SDK API allows lenders to access data directly from borrowers’ mobile devices, enhancing decision-making by enabling smarter, data-driven choices.

Repayments and recovery

Delter IT integrates with platforms like NuPay and ALPPS, offering support for various payment methods, including MPS and DebiCheck. Their system also includes tools to assist with debt collection, allowing users to integrate with third-party debt collection software. This feature helps manage bad debt by automating the creation of legal documents, allocating attorney costs, and providing status management and detailed reporting. In addition, Delter IT offers an SMS solution to save time and reduce costs. Through its SMS Portal, users can create automated batch templates that pull in client information like overdue amounts and repayment dates. These SMS messages are sent immediately, without waiting periods, and a record of all sent messages is kept. Clients can also reply via SMS, adding another communication layer for collections.

Lendsqr, on the other hand, offers a wider variety of payment integrations, supporting local and international platforms such as Paystack, Flutterwave, GoCardless, and Rotessa. This enables lenders to automate repayments via direct debit or mobile money, giving them the flexibility to cater to diverse markets and customer preferences. Lendsqr also prioritizes ethical debt recovery, equipping lenders with tools like schedulers and AI-driven algorithms to help manage collections in a way that balances efficiency with fairness.

Reports and analytics

Delter IT offers central reporting that allows lenders to access data remotely at any time. Data is sent to a central server daily, where it can be easily downloaded and reviewed. This system provides the flexibility to view data by individual office or as a summary across all offices, helping organizations track performance across multiple locations. Additionally, the system includes an offsite backup to ensure that data is secure and can be retrieved immediately in case of hardware failure or theft, offering a level of security and reliability for users.

Lendsqr, on the other hand, focuses on providing lenders with essential reports for daily operations, analytics, and audits. Their reports cover key areas like user activity, loan applications, sign-ups, loan performance, transactions, and repayments. With a focus on simplicity and accuracy, Lendsqr ensures lenders can easily access up-to-date information. The platform prioritizes reports that significantly impact strategic and operational decisions, helping lenders manage their portfolios effectively and spot trends or issues early.

Pricing

When it comes to pricing, Lendsqr offers a clear and flexible structure that caters to lenders at all stages of growth. Their Free plan provides a risk-free starting point at $0 per month, offering essential features like loan management, decision models, disbursements, and web access. It’s an ideal choice for smaller lenders or individuals just beginning to manage lending operations.

As your business expands, Lendsqr’s Pro plan offers a cost-effective upgrade at $200 per month, adding features like customization options, offer letters, and an Android mobile app to simplify lending operations. For more robust needs, the Business plan at $500 per month includes everything in Pro, with added modules for referrals, savings, and investments, along with a white-label mobile app. Large-scale lenders can opt for the Enterprise plan at $1,000 per month, which includes full customization options and integrations with core banking or ERP systems, offering a comprehensive lending infrastructure.

For Delter IT, detailed pricing information can be found here in their official services agreement.

Also Read: Why Lendsqr is Africa’s most affordable loan management software

Choose the solution that works for you

Both Lendsqr and Delter IT bring valuable features to the table, but their approaches cater to different needs. The best choice depends on your specific business requirements, whether it’s ease of deployment, advanced analytics, or scaling opportunities. Evaluate your priorities and take advantage of free trials or demos to ensure the software aligns with your goals. Book a free demo with Lendsqr now.