Does your loan business really need an app?
Many lending businesses assume that launching a mobile app is the next step to growth, but is it always necessary? While apps can improve accessibility and customer engagement, they also come with development, maintenance, and adoption costs. For some lenders, a responsive web platform or alternative digital channels may be more effective and cost-efficient. This article explores the factors lenders should consider before deciding whether their loan business truly needs an app.
How to get your FCCPC license as a Nigerian digital lender
As digital lending continues to grow in Nigeria, regulatory compliance has become increasingly important for lenders operating in the space. One of the key requirements for digital lenders is obtaining an FCCPC license, which helps ensure transparency, consumer protection, and legal operation. However, many lenders are still unclear about the process, requirements, and documentation involved. This article breaks down how Nigerian digital lenders can apply for and obtain their FCCPC license successfully.
7 factors to consider when choosing a loan management software
Choosing the right loan management software can significantly impact the efficiency, scalability, and customer experience of a lending business. With so many options available, lenders need to look beyond basic features and consider factors such as automation, compliance, integrations, reporting, security, and ease of use. The right platform should not only support current operations but also grow alongside the business. This article explores seven important factors every lender should consider before selecting a loan management software.
Can I use a state money lending license to lend anywhere in Nigeria?
As a lender new to the game, one of the foremost questions you’re likely to have is how possible it is to use a state money lending license to lend anywhere and to anyone in Nigeria, especially with the rise of digital lending.
7 reasons why your loan business struggles to attract borrowers
So, you've kicked off your loan business. Now, you’re expecting a surge of customers. Despite your best efforts, the expected influx of customers hasn't materialized. Find out the possible reasons for low borrower numbers in your loan business.
5 reasons why manual loan booking is still relevant for lending
As digital lending continues to expand, automation often dominates conversations around loan origination and borrower onboarding. However, manual loan booking remains highly relevant for many lenders, especially those operating in complex markets, serving underserved borrowers, or handling specialized loan products that require human review and judgment. In many cases, manual processes provide the flexibility and contextual understanding that fully automated systems may struggle to replicate. In this article, we explore five reasons why manual loan booking still matters in modern lending. From supporting relationship-based lending and handling edge-case applications to improving risk assessment and operational control, this guide highlights why many lenders continue to combine automation with manual review processes to build more resilient and effective lending operations.
Is your loan business truly financially inclusive?
Are you truly "Granting credit access to the underserved"? Is it just a spiel that you tell your customers and investors to give them more trust in your business? Find out if your loan business is truly inclusive.
Coverdey dey for you: Empowering underserved traders with credit
Access to credit remains one of the biggest barriers for underserved traders, many of whom rely on inconsistent cash flow to sustain their businesses. Coverdey aims to bridge this gap by providing accessible and flexible credit solutions tailored to their daily realities. By empowering traders with the financial support they need to restock, scale, and stabilize their operations, the initiative plays a vital role in driving inclusion and strengthening grassroots commerce.
What problem is Lendsqr solving for lenders?
At Lendsqr, we believe that just like the way the internet created a level playing field and ushered Africa into the modern age, technology for lending should be powerful, accessible, and affordable.
What you need to know about Nigeria’s Open Banking
Two years after the first Open Banking framework circular was released, the CBN issued operational guidelines for Open Banking on Tuesday, March 7, 2023, heralding a start for what many anticipated would bring about a much-needed change in financial services.
Combating fraud in the lending ecosystem: Your role as a digital lender
Fraudsters bank on your silence and my silence to thrive; they are aware that their victims will stay quiet, as they may face jeers and sneers if they admit to getting scammed. Hence, these grifters continue to succeed in their dishonest schemes. How then do we combat fraud?
