Scaling your lending business: How Lendsqr’s loan invite can help you reach more customers
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Scaling your lending business: How Lendsqr’s loan invite can help you reach more customers

As lenders look to expand their customer base and reach new potential borrowers, the task of sourcing and inviting potential leads can be a daunting one. Traditional methods of reaching out to potential borrowers, such as cold-calling and mailing lists, can be time-consuming and costly.  However, a new solution has emerged that offers a faster […]

Lendsqr and HyperVerge partner to thwart loan fraudsters in Africa
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Lendsqr and HyperVerge partner to thwart loan fraudsters in Africa

At least 6% of loan applications to digital lenders contain identity fraud. Since the advent of digital lending, the time it takes to get loans has reduced from days to sometimes seconds. Unfortunately, it has also made it easier for fraudsters to use stolen identities to take loans. This has given rise to the use […]

Paystack vs. Flutterwave – which is better for loan collection?
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Paystack vs. Flutterwave – which is better for loan collection?

For anyone running a lending business, loan repayment from customers on time is the number one priority. Now that a significant portion of lending is digital, getting paid online is very critical. This is where many lenders get into arguments about which of Flutterwave or Paystack is better for loan collection. We decided to find […]

How to design a customer centric lending product
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How to design a customer centric lending product

The importance of having your products suited to the needs of customers is often understated. A good product is one which fits/ addresses specific needs of the market. It’s almost impossible to gain market share or domination without tailoring one’s offerings to the needs of customers. Achieving customer-centric product design requires an intimate understanding of […]

What do borrowers want from lenders?
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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. […]

Why you should digitize your Ajo lending business
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Why you should digitize your Ajo lending business

Savings and investment have been an integral part of our local community from pre-colonial times. This largely due to the communal nature of the African community – we naturally tend to look out for each other, even where finances are concerned. The advent of formal and structured financing avenues have not completely substituted the thrift […]

Preparing your income statement as a lender- management accounting 101
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Preparing your income statement as a lender- management accounting 101

We are well aware that accounting is often regarded as one of the most arduous aspects of managing a business. No one really likes the boring routine of bookkeeping and punching in numbers; but be it as it may, your financial statement plays a crucial role in the success of your lending business. The income […]

Expand your lending business with customer incentives
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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 […]

How to grow your customer base as a lender 
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How to grow your customer base as a lender 

Having a large customer base is the goal of every business. Not only is it one of the pillars of growth, it also allows a lender to diversify their revenue base. A solid customer base is a sign of a healthy business and the quarter on quarter growth is a metric that every smart investor […]

Make Better Informed Decisions

Our decision model Oraculi helps you handle all modules required to form the decision model for your lending business, convenient and easy.

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Building the right culture in your lending business
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Building the right culture in your lending business

Culture is a critical requirement for any business to achieve its business objectives. As the popular saying goes, “culture eats strategy for breakfast”. Well-thought out strategies, processes, policies, frameworks and models; without an enabling culture won’t return desired corporate values for any organization. A lending business, like any other business requires the right culture to […]

Fund your lending business with on-lending facilities
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Fund your lending business with on-lending facilities

The credit gap in Nigeria is massive, at over 74 trillion. However, there are still not enough loans to go around for everyone who needs them. Beyond the tech to scale, lenders also need the capital to lend. How many loans could a startup lender possibly give from bootstrapping? Say a lender starts with N10m […]

How to report unethical lenders
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How to report unethical lenders

Are you aware that you can report bad lenders who couldn’t possibly care less about conforming to lawful and responsible lending practices? We sincerely hope so. But we don’t live in an ideal world. As much as there are good and responsible lenders who recover loans ethically and understand that borrowers’ have a right to […]