The need for financial models to build a successful loan business
Financial models perform as business GPS for lenders to avoid roadblocks and predict financial performance. But there are more ways they empower lenders.
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.
5 affordable lending software for small lenders
This article explores five lending software platforms that stand out for their affordability and relevance to small lenders.