Half of the year is gone but the other half is going to be awesome

Hello there! 👋

Happy new month and welcome to July!

We’ve officially blown through 50% of 2024, and we want to extend our gratitude for your continuous support and trust in us. Over the past six months, we’ve rolled out important features and enhancements to help you manage your loan business better. We encourage you to check our changelog for a detailed overview of all the improvements and new functionalities we’ve introduced.

Looking ahead, we have even more exciting plans for the second half of the year. Here’s what you can expect in the coming months

What’s New

🤖 We are pioneering inclusive lending solutions

Earlier this year, we proudly announced that we received an AI Grant from the Nigerian Ministry of Communications, Innovation & Digital Economy. We’re excited  to share that this project is well underway and showing great promise! The goal of this initiative is to utilize videos and images from users to make lending more inclusive, especially for underserved populations. This innovative approach will help us assess loan applications more accurately and fairly, expanding access to those who need it the most. We can’t wait to make this powerful tool available to you in the coming months so you can experience its benefits firsthand.

💼 Reduce your loan risks with equity contribution

We are excited to introduce a new feature that allows you to request a fixed, percentage, or hybrid equity contribution from your customers before disbursing a loan. This ensures that the customer has a vested interest in the success of the loan, reducing the risk for both you and the borrower. By aligning the incentives of both parties, this equity contribution encourages more responsible borrowing and repayment behavior. Additionally, it provides a cushion in case of default, helping to mitigate potential losses. This feature offers greater flexibility in structuring your loan products, catering to different business models and customer needs.

Learn more

📱 USSD to the rescue for OTP delivery via SMS 

We all know how unreliable OTP via SMS can be and how frustrating it is for both you and your customers. We’ve now introduced a new feature that allows your Nigerian customers to dial a USSD code when there is a delay in their OTP delivery. Additionally, for Nigerian lenders who do not have 2FA activated, they can dial the USSD code,*7006*23*1*99#, while trying to login or verify their phone number.

💰 Our pricing for direct debit API has been optimized

We have recently updated the pricing for creating mandates using our direct debit API from Adjutor. For every successful mandate created, your Adjutor wallet will be debited a fee of N100. If you have any questions or concerns, please reach out to us at [email protected]. This update is designed to make our pricing more transparent and manageable for you.

📊 We’ve also optimized the direct debit transaction dynamics 

Direct debit isn’t that great for small amounts and the fees incurred may sometimes wipe out the amount paid. Consequently, to prevent these unfortunate occurrences, we are limiting the lowest amount you can debit with direct debit to N1,000; and these affect individual repayment schedules as well.

What’s Better?

📄 Enhanced KYC verification with PDF and DOCX uploads

You can now upload PDF and Microsoft Word files as proof for various KYC requirements on Adjutor. This update makes it easier for you to submit necessary documents and comply with regulatory standards in whatever format they are in, ensuring a smoother and more user-friendly experience. Complete your KYC today with ease!

🚀 Direct debit mandate activation is now better

We’ve made significant improvements to the direct debit mandate activation process. You can now view individual activation attempts directly from your admin console. This transparency helps you understand the reasons behind any delays in activation, providing better insight to your customers and resolving issues faster.

Learn more

📧 We’ve optimized how your customers’ email addresses are validated

Ensuring accurate customer information is crucial. We’ve optimized how customer email addresses are validated by allowing you to configure email verification directly from the admin console. This enhancement helps you ensure that the details provided by your customers, especially their emails and phone numbers, are correct. Email verification is now more streamlined and effective, contributing to better data accuracy.

Learn more

What’s Cooking?

💸 Do you want to get your interest repaid upfront? You will soon be able to do that

We’re excited to introduce a new feature that will allow you to collect interest upfront, at the beginning of the loan term. You would be able to  configure your loan products to deduct the interest portion from the principal amount right at the time of disbursement. For example, if a borrower takes out a loan of N10,000 with an interest rate of 10%, you will receive the N1,000 interest upfront.

🤖 We’re playing with AI to serve you better. And it looks pretty promising

We’re always looking for ways to improve, and right now, we’re experimenting with AI to provide even better support for you and your customers. Our AI-driven support tools are being developed to answer queries more efficiently, resolve issues faster, and offer personalized assistance. This ongoing project is looking promising and will soon be available to you, ensuring that you can deliver top-notch customer service, making the experience smoother and more satisfying for your borrowers.

🛠️ Introducing New APIs to Adjutor

Have you wished you could build a better experience than what our web and mobile app offers? Now your wish has come true. We’re hard at work to provide you previously never seen internal APIs that can allow you build your own mobile or web app on Lendsqr and never have to use a whitelabel app just like other lenders.
If you want early access, please engage with [email protected].
.

📺 Missed Our Webinars for the First Half of the Year? Watch Them Now!

Did you miss our informative webinars earlier this year? Don’t worry! You can watch them now and get valuable tips to stay ahead of the curve in your loan business.

🔍 How to Spot and Block Fraudulent Borrowers

Learn essential strategies to identify and prevent fraudulent activities. Protect your business from potential risks by watching this insightful webinar. Watch Now

💳 How to Get Your Loans Repaid with Direct Debit

Discover effective methods to ensure timely loan repayments using Direct Debit. This webinar covers everything you need to know to streamline your repayment process. Watch Now

📅 Prepare for our new webinar in August!

We have an exciting new webinar coming up in August. Stay tuned for more details and make sure to mark your calendar. This upcoming session will provide you with even more insights and tools to optimize your loan business.

For more information about these features and updates, view our changelog or to schedule a consultation on navigating them, please reach out to us at [email protected] and we’ll be more than happy to help. Remember, your satisfaction fuels our commitment to excellence.