Reach more customers with the Lendsqr offline loan feature
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 […]
Scaling lending: Leveraging Lendsqr’s loan invite for wider reach
As lenders look to expand their customer base and reach new potential borrowers, Lendsqr's loan invite method has provided an effective way.
Paystack vs. Flutterwave – which is better for loan collection?
This is where many lenders get into arguments about which of Flutterwave or Paystack is better for loan collection. We decided to find out for our lenders.
FCCPC regulations for digital lenders
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 […]
Preparing your income statement as a lender- management accounting 101
No one likes the boring routine of bookkeeping and punching in numbers; but management accounting is a highly important for your lending business.
Drafting a strategy for your lending business
The business strategy is the foundation of every business, it provides guidance to what the organization is set-up to achieve. The first step towards building a strong lending business, with long-term sustainable growth is having a clearly defined strategy. In simple terms, your strategy tells your stakeholders (internal and external) what your organization will be […]
Customer count or profitability: which is more important for a lender?
Running a lending business, as is the case with running any other business, requires business owners to make some tough decisions. Most lenders, especially those new to the lending business, are typically faced with the high-consequence question: “What should I primarily focus on -growing my customer count or growing profitably?” The former is concerned with […]
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 don’t […]
Which is better for loan repayments: Cards or Direct Debit?
A lender’s worst nightmare is being unable to recover loans. This fear has a compelling hold on lenders that many have resorted to scare tactics, harassment and misusing borrowers’ data to force repayment. More often than not, adopting these unethical methods of loan recovery exposes the dire need for improvement of the lenders’ system for […]
APIs for lenders to reduce NPL
The threat that bad loans pose to lenders can’t be overemphasized. A lot of lenders have had to write off an alarming amount of non-performing loans (NPL). As a lender, a big concern you’re often confronted with is “what if they don’t pay back?” It’s imperative to be able to recover your loans. This is […]
What makes a great loan management software
Whether you decide to build your loan software or use a LaaS platform like Lendsqr, consider these things
