Why we built our lenders’ web app and how it has changed lending forever

In the early days of Lendsqr, our first wave of customers saw mobile apps as the key to success. Pioneering companies like P2Vest and Kredi Bank, fueled by innovation and strong leadership, embraced this approach to launch quickly and at scale.

These were the rockstars of the industry – they had the tech, the financial muscle, and the minds to make it work. P2Vest, for instance, boasts a highly experienced founder, Austine Abolusoro, at the helm, a testament to their commitment to excellence.

However, as we grew, we began to see a shift. We discovered that a significant portion of borrowers, particularly those needing small and medium-sized enterprise (SME) loans, weren’t interested in app-based solutions.

For them, the time and effort required for app downloads simply didn’t make sense in the context of their business model. It became clear that a mobile-first approach wasn’t universally user-friendly.

One of our turning points came when a customer approached us with a specific need. We built a web app for a single client and were struck by the sheer ease of development and deployment compared to a mobile app.

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The beauty of our lenders’ web app is its agility

The app store approval process can be a pain in the butt, but with a web app, we could solve problems on the fly, deploy updates rapidly, and introduce new features much faster, and all without disrupting our users’ experience. It has been a game-changer.

This epiphany led us to create a configurable lenders web app. Suddenly, our reach exploded. Before Adedeji Olowe, our founder, joined Lendsqr full-time, we served a limited group of roughly 20 clients.

The web app’s scalability allowed us to serve thousands of lenders simultaneously. Today, we support a growing network of over 4,000 lenders operating across multiple countries.

Basically, it’s a beast!

Our lenders’ web app shatters the limitations of traditional internet banking by offering a feature set usually reserved for enterprise-level Banking as a Service (BaaS) solutions. These solutions often carry a hefty price tag, costing hundreds of thousands of dollars. With Lendsqr, you get the same level of sophistication – but without the exorbitant fees.

Here are the features we have on our web app that make it extremely sophisticated.

• Smooth self-onboarding system: Lenders can get up and running in minutes with our self-onboarding loan management system. You’ll instantly receive a virtual account with a built-in wallet, allowing seamless transfers and receipts to and from any Nigerian bank.
• All-in-one financial system: Our web app goes beyond basic money management. It functions as your central financial command center, empowering you to pay bills, conveniently top up airtime, and explore a diverse array of loan options – all within a single, intuitive interface.
• Rich profile management: Users can craft rich detailed profiles from background information to even include your next of kin. Should you require assistance, our in-app chat support is readily available to address any questions you may have.
• Configurable services for tailored Solutions: We understand that every business has unique needs. That’s why our web app is totally configurable, including customizable loan reporting functionalities.
• Globally accessible & multilingual support: Conduct transactions with confidence on a global scale. Our web app’s comprehensive multilingual support guarantees a smooth user experience regardless of your location.
• Mobile-friendly & responsive design: Our lenders’ web app has a user-friendly interface that flawlessly adapts to any device, be it a desktop computer, tablet, or smartphone. This ensures uninterrupted access to your financial tools, wherever you may be.
• Advanced user management with real-time insights: Our web app equips lenders with the tools to effectively manage your users. Capture essential user details, track customer locations (with permission), and stay informed with real-time push notifications regarding account activity and updates.

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We built a 2.0 version of our lenders web app

The phenomenal reception lenders had to our initial web app led us to build a second version that works just as amazing as our first. This version creates fully customizable microsites for lenders that directly integrate with your web app.

You can showcase your brand: Design your microsite to perfectly reflect your company’s unique style and what makes you stand out.

Inform borrowers clearly: Provide potential borrowers with all the essential details about your lending services, loan products, and what your company is all about.

We’re set to dominate the lending industry

“It’s going to change lending forever and we’re not ashamed to say we will be the ones to do that.” Adedeji Olowe, Founder, Lendsqr

We’re cooking up some new updates that will transform lending forever. Lenders will soon be able to integrate their own content, including HTML, images, scripts, and even custom chat buttons, directly into their microsites.

This flexibility allows you to seamlessly blend Lendsqr’s powerful functionality with your unique brand identity. You can even extend this customization to your mobile app dashboard, creating a cohesive user experience across all platforms.

We’re not stopping at just content freedom. Lendsqr 2.0 is poised to use the power of Artificial Intelligence (AI) to further boost your lending experience. While the specifics of this integration are still under development, expect features that streamline decision-making, personalize borrower journeys, and provide even greater efficiency within your lending operations.