December 12, 2022
Lendsqr and HyperVerge partner to thwart loan fraudsters in Africa
At least 6% of loan applications to digital lenders contain identity fraud. Since the advent of digital lending, the time it takes to get loans has reduced from days to sometimes seconds. Unfortunately, it has also made it easier for fraudsters to use stolen identities to take loans. This has given rise to the use […]
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November 25, 2022
A1 Credit: Leveraging digital channels to provide loans to Nigerians and small businesses
Understanding the consumer credit landscape in Nigeria A1 Credit is helping millions of Nigerians and small businesses get access to credit without asking for an arm and a leg. Their use of digital channels means they are available around the clock, 365 days a year. While it is true that Nigeria has several lenders, however, […]
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November 14, 2022
Paystack vs. Flutterwave – which is better for loan collection?
For anyone running a lending business, getting paid on time is the number one priority. Now that a significant portion of lending is digital, getting paid online is very critical. This is where many lenders get into arguments about which of Flutterwave or Paystack is better for loan collection. We decided to find out for […]
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September 27, 2022
Urgent10k: Meeting the emergency cash needs of Nigerians
Understanding the consumer credit landscape in Nigeria Nigeria’s untapped consumer credit needs currently stands at about N109 trillion. While individuals and MSMEs in certain more developed economies are able to turn to the banks to fulfill their credit needs, the reality of accessing credit from banks for the average Nigerian is quite bleak. Out of […]
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September 19, 2022
FCCPC regulations for digital lenders
The Federal Competition and Consumer Protection Commission (FCCPC); the regulatory agency responsible for ensuring consumer protection and regulating competition in Nigeria, recently released a Limited Interim Regulatory/Registration Framework for Digital Lending. This regulatory framework is enforceable whilst they work on a more comprehensive framework to guide the operations of digital lenders in Nigeria. The Commission […]
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September 16, 2022
Everything’s getting better this September
A happy new month to our excellent lenders! We hope last month was filled with good surprises and that September’s surprises will be even better. In the last month, we’ve worked tirelessly to bring you some really great features that we know will make your lending experience much better. Keep reading to know more about […]
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September 5, 2022
How to design a customer centric lending product
The importance of having your products suited to the needs of customers is often understated. A good product is one which fits/ addresses specific needs of the market. It’s almost impossible to gain market share or domination without tailoring one’s offerings to the needs of customers. Achieving customer-centric product design requires an intimate understanding of […]
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August 29, 2022
What do borrowers want from lenders?
It’s a widely spread belief amongst lenders that handing over cash or processing loans faster is all that borrowers want. Unfortunately, lending is more nuanced than this. To have a deeper understanding into what drives Nigerians towards one lender or the other, Lendsqr conducted a survey to find out the preferences of borrowers in Nigeria. […]
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August 23, 2022
Why you should digitize your Ajo lending business
Savings and investment have been an integral part of our local community from pre-colonial times. This largely due to the communal nature of the African community – we naturally tend to look out for each other, even where finances are concerned. The advent of formal and structured financing avenues have not completely substituted the thrift […]
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August 17, 2022
Management accounting for lenders – preparing your income statement
We are well aware that accounting is often regarded as one of the most arduous aspects of managing a business. No one really likes the boring routine of bookkeeping and punching in numbers; but be it as it may, management accounting is a highly important hygiene for your lending business. The income statement is an […]
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