Lendsqr and HyperVerge partner to thwart loan fraudsters in Africa
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 of globally recognized methods such as liveness checks with facial recognition, which can easily identify and verify customers instantly.
How the Lendsqr Karma service blocks bad actors and defaulters
Lending becomes harder when the same bad actors move across platforms, taking loans with no intention to repay. This is where Lendsqr’s Karma service comes in. By checking borrower identities, device patterns, and past behavior across the ecosystem, Karma helps lenders identify defaulters and fraud risks early in the decision process. This article explains how it works and how it helps protect loan portfolios from repeat abuse.
How to get started as a lender in Sierra Leone
How do you start lending in a country where most people are still outside the formal financial system? In Sierra Leone, over 70% of the population are financially excluded. That means the majority of people don’t have access to bank accounts, loans, or digital payment options. This gap leaves many dependent on cash transactions, which […]