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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 …
How to design a customer centric lending product
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 …
What do borrowers want from lenders?
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. …
Why you should digitize your Ajo lending business
The business strategy is the foundation of every business, it provides guidance to what the organization is set-up to achieve. The first step towards building a strong lending business, with long-term sustainable growth is having a clearly defined strategy. In simple …
Drafting a strategy for your lending business
Human psychology indicates that human beings make purchase decisions based on emotions which are subsequently justified by rational suggestions. According to Simon Sinek, it’s easier to sell a product that’s emotionally charged. This is where incentives come in. Humans as consumers …
Expand your lending business with customer incentives
Culture is a critical requirement for any business to achieve its business objectives. As the popular saying goes, “culture eats strategy for breakfast”. Well-thought out strategies, processes, policies, frameworks and models; without an enabling culture won’t return desired corporate values for …
Lendsqr_Building the right culture in your lending business