APIs for lenders to reduce NPL
Integrations via API to other ancillary platforms are key to ensuring your loans are paid back. They allow you to leverage on the tech, data and functionalities of the best providers to improve the quality of your loan flow.
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
5 lending business activities to monitor daily
There are key lending business activities to monitor to ensure your lending business is on the right track and these article gives you exactly what to track.
How to start lending for free with Lendsqr
We provide the tools and expertise to help you lend and avoid common pitfalls, so you can focus on growing your customer base and building a successful lending business.
Are lenders evil for charging high interest rates?
The average lender today typically charges 4% — 10% per month (48% — 120% per year). Whoa. It makes you wonder how they recover loans at these rates. At first glance, it seems outrageous, even exploitative but there’s more to the story when you consider the risks and costs lenders face in Nigeria’s financial landscape.
Lendsqr’s guide to responsible lending
If you’re a lender reading this, you’re probably thinking you made the right choice entering this business, right? Lending can be rewarding, but the real question is whether you operate with responsible lending practices. Responsible lending is essential for protecting customers, strengthening your portfolio, and ensuring long-term sustainability. This guide explains what responsible lending means, why it matters, and how to apply it effectively.
Tell your lending story. Win N50,000! 🏆
Every lender has a story, the challenges, the breakthroughs, and the lessons that shaped their journey. Now’s your chance to share yours and win ₦50,000! 🏆 Whether you’re a micro-lender, digital lender, or traditional finance operator, we want to hear how you built, grew, or transformed your lending process. Your experience could inspire others and highlight what it really takes to succeed in lending.
How big is the addressable market for consumer loan in Nigeria?
Nigeria's 200 million population offers a vast potential for consumer loans, yet much of this market remains underserved. From rising digital lending adoption to evolving fintech innovations, the opportunities for lenders are enormous. This guide explores the size of the addressable market for consumer loans in Nigeria and outlines strategies to tap into this growing and lucrative sector.
We built Lendsqr to innovate affordable credit for all
At Lendsqr, our mission is to make credit accessible, affordable, and fair for all. In 2020, we pivoted to solve this problem, and by September, our first lenders were already reaping the benefits of cost-effective cloud lending at scale. We built a cloud lending ecosystem that goes beyond technology, offering powerful, automated features to streamline loan experiences and provide access to bank data that informs smarter lending decisions.
Lenders battle against fraudsters; a case for an industry blacklist
As digital lending surges in Nigeria, fraud has quietly become one of the industry’s biggest threats, with coordinated identity theft and serial loan defaulters overwhelming individual lenders who battle in isolation. The danger isn’t unique. Kenya offers a stark warning, with an estimated 3.2 million people blacklisted on the country’s TransUnion credit bureau. Without a unified industry blacklist to identify and curb repeat offenders, Nigerian lenders risk following the same path, continually staying several steps behind increasingly sophisticated fraudsters.
Why Nigerian banks will never win the consumer credit game
Nigerian banks have never been equipped to win the consumer credit game. Their rigid lending practices, heavy collateral requirements, and deep-rooted aversion to retail risk keep everyday borrowers locked out. Fintechs are filling the gap with faster, more flexible solutions, while banks remain stuck in outdated models. Now that we know how important consumer credit is and why it matters, why are banks so ill-qualified to solve the problem?
