Lendsqr vs Geesoft as a loan management software in Zimbabwe

Zimbabwe’s lending sector has long been characterized by inefficiencies, including manual loan tracking, delayed disbursements, and high default rates. A significant challenge is the limited access to formal credit for small and medium-sized enterprises (SMEs). According to the Bankers Association of Zimbabwe, only 14% of SMEs are banked, and a mere 18% are served by formal financial institutions.

This gap in credit access has spurred innovation within the financial services industry. Fintech companies are introducing loan management software designed to streamline lending operations. Platforms like Lendsqr and Geesoft have emerged, offering solutions to automate disbursements, monitor repayments, and enhance risk management.

The impact of digital financial services in Zimbabwe is notable. A World Bank report highlights that 96% of all transactions in the country are conducted through digital payment systems, indicating a strong foundation for further digital economy development.

In this article, we compare Lendsqr and Geesoft, two prominent loan management systems in Zimbabwe. By examining their features, pricing, and real-world performance, we aim to determine which platform best empowers lenders to navigate Zimbabwe’s evolving financial landscape.

Quick comparison: Lendsqr vs. Geesoft

Feature	Lendsqr	Geesoft (GS LoanScript)
Setup	Self-service + optional support	Manual setup via consultation
Loan Product Configuration	Fully customizable, dynamic interest rates	Fixed product creation engine
Lending Models	Supports multiple channels (web, mobile, USSD, API)	Supports multiple lending models (individual & group)
Risk Management	AI-driven credit assessment (Oraculi, Karma, credit bureaus)	GS Credit Registry for real-time credit data
Pricing	Transparent, starts at $200/month	Custom pricing, requires consultation
Best For	Digital lenders, fintech startups, scalable lending	Mid-sized lenders, traditional microfinance institutions

About Geesoft

Geesoft Systems is a software development company founded in Zimbabwe in 2002.

It was initially established to provide custom software solutions for businesses in Southern Africa. Over time, the company expanded its portfolio to include loan management software, recognizing the growing demand for digital financial tools in the region.

GS LoanScript is one of Geesoft’s flagship products and focuses on streamlining traditional lending operations. It is built with mid-sized lenders in mind, offering solutions for loan tracking, customer data management, and integration with other Geesoft tools like GS Credit Registry and GS Asset Manager.

Over the years, Geesoft has expanded its presence beyond Zimbabwe. They have established offices in Lusaka, Zambia, operating as Geesoft Systems Zambia Limited, and have formed partnerships in South Africa.

Their team comprises skilled developers and business analysts dedicated to delivering innovative software solutions tailored to clients’ specific needs. Their services include custom software development, project management, software consultancy, and ICT training and support.

About Lendsqr

Lendsqr was born from a vision to revolutionize the way lending works across Africa. Founded in 2019 by Adedeji Olowe, the company saw an opportunity to bridge the gap between traditional lending systems and the digital-first world. Their goal was clear: empower lenders with technology that doesn’t just handle loans but simplifies the entire process, making it more efficient, transparent, and scalable.

What began as a solution for Nigerian lenders quickly grew into a platform with the capacity to service the entire African continent and the global market. The platform quickly gained traction among digital-first lenders and fintechs across Africa.

By 2024, it was servicing over 5700 lenders across the world.

With an emphasis on speed, security, and scalability, Lendsqr became the go-to platform for financial institutions that want to stay competitive in a fast-paced and often unpredictable market.

Lendsqr’s impact is felt across the continent, from Nigeria to Kenya, South Africa, and beyond. As the company continues to grow, it’s focused on providing end-to-end solutions for the modern lender—tools that make loan management easier, more effective, and more suited to the digital age. 

Which is easier to set up, Lendsqr or Geesoft?

GS LoanScript is a bit more hands-on in the sense that, when you want to get started, you need to contact the team directly. There’s no self-service option here.

So, if you’re thinking about trying it out for your business, the first step is to reach out to them for a consultation. This means that someone from Geesoft will walk you through the process, helping you tailor the software to meet your specific needs.

It’s a more consultative approach, where the team works closely with you to set everything up, make adjustments, and ensure the software fits your business. While this might sound like a slow start, it can actually be a good thing for businesses that need more customized solutions.

You don’t have to worry about figuring everything out on your own. But, the trade-off here is that you’re not in full control of the setup process—it depends on when Geesoft’s team is available.

On the other hand,

Lendsqr gives you more control over the process. If you’re someone who likes to get things done on your own, Lendsqr offers a self-service model. This means you can sign up and start using the platform right away without waiting for anyone to walk you through it. For smaller institutions or startups, this is an absolute game-changer. You can just log in, start exploring, and configure the platform yourself to suit your needs. The ease of getting started is one of Lendsqr’s key selling points, especially for businesses that want to deploy quickly.

But, let’s not forget the consultative side of things. If you’re a larger institution with more complex requirements, Lendsqr also offers consultation services. So, while you can go the self-service route, you can always lean on Lendsqr’s team for extra support if needed. This means you can have the best of both worlds: flexibility in getting started, but also expert assistance when you need it.

Does Lendsqr or Geesoft support different types of lending?

Geesoft makes it easy for lenders to set up and roll out new loan products across branches. They have a Flexible Product Creation Engine that allows institutions to configure and launch new credit and deposit products instantly. This means you can quickly create tailored products for your customers without having to wait weeks for approval or customization. Whether you’re dealing with personal loans, group loans, or savings products, GS LoanScript promises flexibility and speed in getting those products to market.

On the other hand, Lendsqr doesn’t just stop at offering customizable loan products; it takes it a step further with a more dynamic configuration system. Lenders using Lendsqr can adjust interest rates, repayment schedules, and other key terms according to their needs. They can tailor loan products to fit the demands of their customers and even tweak those products as conditions change. What’s especially useful about Lendsqr is its multi-channel approach: loans can be offered across web, mobile, USSD, and even API integrations. This makes it easier for lenders to scale their offerings across various platforms, reaching a wider audience with the right products.

When we put both features side by side, it’s clear that Geesoft offers a solid foundation for flexible product creation. But Lendsqr’s customizable loan products go further by offering not just flexibility in the product setup but the ability to adapt loan terms dynamically, something that’s crucial for lenders who need to react quickly to market changes. Lendsqr also provides a broader platform for managing these products across different customer touchpoints, whether online or offline.

Multiple lending models vs multiple channels

GS LoanScript shines with its multiple lending methodologies. It caters to both individual and group lending. This is crucial for institutions that work with different borrower types—whether you’re lending to one person or a group. The flexibility here means GS LoanScript can support a variety of lending models, which is great for microfinance institutions and non-bank lenders who need to manage different types of loans with ease.

On the other hand, Lendsqr takes this flexibility and applies it to the channels through which loans can be offered. With its multi-channel support, Lendsqr allows lenders to reach borrowers through web, mobile, USSD, and even API integrations. What’s powerful about this is that it gives lenders the ability to manage and offer loans across multiple touchpoints, whether the borrower prefers to interact via a mobile app, a simple USSD code, or through a website. This is crucial for reaching a broader range of customers, especially in markets where mobile money is the default for financial transactions.

It’s one thing to have multiple lending models, but if you can offer those models through web, mobile, USSD, and APIs, you’re opening up a much wider opportunity for growth.

Client data management and risk assessment

GS LoanScript and Lendsqr both handle client information and risk assessment, but they approach it from different angles.

GS LoanScript is about client management—keeping track of everything from KYC (Know Your Customer) documents to identity verification. However, it’s a basic CRM system. It helps you maintain the administrative side of your business, storing important information and making sure you’re compliant with the law.

But with GS Credit Registry, Geesoft goes a step further by integrating real-time credit information. This tool helps lenders access and update credit data on clients, and send that data securely to regulatory bodies like the Reserve Bank of Zimbabwe (RBZ). It’s not just about knowing who your clients are—GS Credit Registry provides real-time updates, ensuring you have the most accurate information possible for assessing risk. It also gives you the ability to analyze data trends and patterns in clients’ credit behavior. This feature is incredibly valuable if you’re trying to make informed decisions about who to lend to, based on up-to-date credit data.

Lendsqr handles risk management through its Oraculi engine. It offers tools like Karma (the largest private blacklist), financial insights through statements, and direct credit bureau integration. Lendsqr takes it a step further by allowing lenders to customize their risk models, so they can decide exactly what they’re looking for when evaluating a borrower’s ability to repay. This makes the decision-making process more flexible and data-driven.

How do I get the pricing for Geesoft and Lendsqr?

To properly compare pricing between GS LoanScript and Lendsqr, we need to examine the available information about both platforms’ pricing models. But, the specific pricing details for GS LoanScript are not directly provided on their website or documentation. Instead, it appears that potential customers need to reach out directly to Geesoft for custom quotes based on their unique business needs.

On the other hand, Lendsqr offers a clearer pricing model that’s accessible on their website. Lendsqr has different pricing tiers designed to cater to a range of businesses, from startups to large institutions, making it easier for potential clients to estimate costs. Their pricing starts with a free trial for those who want to explore the platform before committing, and they offer flexible, subscription-based plans that scale based on the size and needs of the lender, starting from $200 for a pro account.

Final verdict: Which LMS is best for you?

Geesoft or Lendsqr?

Ultimately, the decision between GS LoanScript and Lendsqr will depend on your particular stage of growth, their internal capabilities, and their specific technological preferences.

But when you do choose Lendsqr, simply book a demo right here and start your prosperous future as a digital lender.