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How to verify borrower’s ID

In a country where there’s a huge consumer credit gap, high inflation and poverty rates, loans are definitely in high demand. As a lender, this means you get a high influx of loan applications daily. And guess what? You have to …
A typical state lender who has about N20 million capital is targeting the working class Nigeria, targeting loan sizes of N30,000 to N150,000. Knowing they stand no chance of growing the business if they demand their borrowers come to an office, …
Lending is a profitable business and is probably as old as time itself. Lending has subsequently evolved into fintech, which when done well, grows faster and attracts significant valuations than traditional banks. But lending is a tough business and those who …
A not-so-fun fact you need to know about running a lending business is that the biggest challenge every Nigerian lender faces is not technology, capital or regulatory constraints, but how to recover loans and the scary fact is that Nigerians don’t …