Lendsqr has introduced its Lending-as-a-Service platform in Ghana, focusing on automating lending processes for banks, fintechs, and digital lenders. This innovation seeks to modernize the sector by improving efficiency in loan origination and risk management. Key features include advanced KYC processes, fraud detection, and integration with mobile payment systems.
Lendsqr, a prominent global loan management technology provider, has launched its Lending-as-a-Service (LaaS) platform in Ghana. This innovative platform aims to automate and enhance data-driven lending processes for banks, fintech companies, and digital lenders. It addresses the inefficiencies that prevail in Ghana’s lending landscape, which has been bogged down by outdated manual processes.
The lending industry in Ghana is experiencing significant growth, yet many lenders continue to depend on slow, antiquated practices. Lendsqr seeks to modernize this sector by streamlining operations such as loan origination, credit assessments, and risk management, ultimately enhancing overall efficiency.
Adedeji Olowe, CEO of Lendsqr, stated, “Lending in Ghana is growing, but outdated processes hinder scalability. Our technology enables lenders to process loans faster, reduce risk, and serve more people without manual workflows.” Additionally, Joy B. Bello, Head of Growth, emphasized the platform’s impact on providing access to credit for SMEs and individuals lacking formal banking histories.
Lendsqr’s platform integrates several advanced features, including:
– Advanced KYC and Credit Scoring: Utilizes over 100 risk parameters and integrates with the Ghana Card database and KYC providers like BSystems.
– Proprietary License Verification: Improves fraud detection and borrower authentication processes.
– Multi-channel Access: Supports efficient interactions via both mobile and web platforms.
– Payment and Credit Data Integration: Links with services like MTN Mobile Money, Vodafone Cash, and AirtelTigo Money to provide real-time insights on borrowers.
Lendsqr’s launch of the Lending-as-a-Service platform in Ghana marks a significant advancement in the local lending industry. By leveraging technology, it aims to automate processes, enhance credit assessment, and mitigate risks. This initiative is expected to increase access to credit for individuals and SMEs, contributing to the overall growth of the sector.
Original Source: techlabari.com
