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Lendsqr has taken a bold step to make lending more secure and effective by offering a feature that allows lenders to link multiple credit bureau services. This innovative feature is a game-changer for the lending industry in Nigeria, where access to accurate credit information is vital for managing credit risk and reducing non-performing loans. At […]
Lending is a game of data – if you know as much as possible about your customer, you can make a good decision about if to give a loan, how much to give, or even for how long to give or not to give. However, getting this data is harder than breaking a coconut with […]
Nothing scares a lender more than giving loans to someone who doesn’t make the cut right from the word go. With enough data, lenders can have better assurance of lending to the right borrowers with the capacity and history of paying back. Unfortunately, as much as data and algorithms are good for smart decisions, getting […]
As a digital lender, there are so many things to consider when creating your loan portfolio. How do you create the perfect products that would reach your ideal target customer? What if your target customer base may not be tech-savvy or does not have access to the internet at all? How do you cater to […]
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 […]
The Federal Competition and Consumer Protection Commission (FCCPC); the regulatory agency responsible for ensuring consumer protection and regulating competition in Nigeria, recently released a Limited Interim Regulatory/Registration Framework for Digital Lending. This regulatory framework is enforceable whilst they work on a more comprehensive framework to guide the operations of digital lenders in Nigeria. The Commission […]