Lendsqr, a leading Nigerian fintech company specializing in loan management software, has announced its expansion into Kenya.
The company is introducing its advanced loan processing platform designed to streamline operations and enhance efficiency for banks, microfinance institutions (MFIs), and digital lenders across the country.
“Kenya has a thriving lending sector, but we recognize the challenges faced by many banks, SACCOs, and lenders in managing loan portfolios and scaling their businesses,” said Adedeji Olowe, Chief Executive Officer (CEO) of Lendsqr.
The CEO further noted, “Our expansion aligns with Lendsqr’s ongoing commitment to supporting financial institutions across Africa, and we’re confident our platform can be a game-changer for Kenyan lenders.”
Streamlining the Lending Process with Artificial Intelligence (AI)
Lendsqr’s platform offers a comprehensive suite of features for the entire lending lifecycle:
- Loan origination: Simplify and expedite loan applications.
- Loan management: Efficiently manage loan portfolios and track borrower activity.
- Credit decisioning: Make faster and more informed decisions with advanced AI-powered tools.
- Data analytics: Gain valuable insights to optimize lending strategies.
One of the platform’s most innovative features is its unique integration of video into the loan origination process.
This AI-powered feature enhances underwriting efficiency, providing lenders with greater speed and security.
“This innovative approach provides lenders with increased confidence in credit decisions and ultimately improves the customer experience,” Mr Olowe added.
Building on Nigerian Success in Kenya
Following the successful launch of a ₦1 billion on-lending initiative in Nigeria to support digital lenders, the fintech is replicating its success in Kenya.
The platform offers a complete solution for lenders, covering origination, management, credit decisions, data analytics, collection, and recovery.
Lendsqr’s Kenyan expansion follows a trend of successful fintech expansion seen with companies like Flutterwave and Paystack.
The platform seamlessly integrates with local core banking and enterprise resource planning (ERP) systems, allowing lenders to build an infrastructure tailored to their specific needs.
AI: Reshaping African Fintech
The startup’s AI-powered video integration exemplifies the growing influence of AI in African fintech.
This technology is revolutionizing the industry by enhancing fraud detection, personalizing financial solutions, and improving overall loan security and customer experience.
Lendsqr’s Kenyan expansion highlights the ongoing innovation and expansion of African fintech companies.
These companies are playing a crucial role in transforming financial systems and boosting financial inclusion across the continent.