The greatest weapon of most unrepentant serial loan defaulters is the “lack of updated information”. Bad actors know that lenders don’t share information amongst themselves so often. With an opportunity laid out for them, they take advantage by going from one lender to another causing great financial distress.

This unfortunate circumstance is uncommon with any lender affiliated with Lendsqr because Lendsqr has one of the largest blacklists in Nigeria.

We call her KARMA

The Lendsqr Karma service is a superior approach to security that adopts “community” as a tool to battle bad actors and defaulters. As they say ‘There is strength in numbers’. Karma automatically blocks a known fraudster or chronic defaulter from the Lendsqr ecosystem which boasts over 1,600 lenders.

This is the secret behind most successful servers, take Google for example, with their superior spam system where a mail flagged by enough email recipients automatically marks that sender as a spammer to their over 2.5 billion users.

Lendsqr Karma was created using this exact model that has proven itself times without fail. 

Karma gets hundreds of thousands of data signals from Lendsqr lenders and partners which is used to build a rapidly expanding data ecosystem just for our lenders.

At Lendsqr, we believe in the power of community and collaboration. And that is why Karma is open to any lender (vetted, of course) who is willing to integrate into our system, share our benefits, and contribute.

Why you should integrate into the Lendsqr Karma Service

Now that we know what Karma is and what it can do, let’s move on to what Karma is not. To avoid misconceptions, here are some of what Karma is not:

How to Integrate into the Karma service

There is no way to overstate the danger that defaulted loans bring to lenders. An alarming number of lenders have been forced to write down non-performing loans (NPL). One major worry frequently faced by lenders is the question “what if they don’t pay back?” 

Integration via API to the Karma service is the key to ensuring that you do not fall prey to bad actors and that your loans get paid back in full and on time.

You can access and integrate into the Karma service by visiting to get started.

You can also access the whole lending stack in a matter of minutes by simply signing up for a free account on Lendsqr. With a registered account, Karma and all its services are open to you.

For further questions or clarifications, please send us a message at [email protected].

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