Global provider of loan management software, Lendsqr, has launched its lending-as-a-service platform in Kenya, a move aimed at enhancing loan processes for banks, microfinance institutions (MFIs), and digital lenders.
In a press release on November 7, 2024, Lendsqr announced that this launch will provide Kenyan lenders with an efficient solution to streamline loan operations and expand their capacity to serve more borrowers.
Moreover, this launch also aligns with Lendsqr’s broader mission of driving financial inclusion across Africa, which seeks to enable lenders to serve both urban and underserved rural communities, helping bridge the financial gap and empowering more Kenyans to access formal and informal financial services.
In line with these goals, Lendsqr aims to support banks, SACCOs, and lenders of all sizes with tools to manage and grow their operations, ultimately helping to increase access to credit and further financial inclusion in Kenya.
Benefits of Lendsqr platform
“Kenya has one of the most vibrant lending sectors in Africa, but we recognize the challenges many banks, SACCOs, and lenders face in managing loan portfolios and scaling their businesses,” said Adedeji Olowe, Chief Executive Officer (CEO) of Lendsqr.
“We’re excited to bring our technology to Kenya, enabling lenders to serve their communities better, reach new markets, and grow sustainably,” the CEO added.
Further, the CEO stated that Lendsqr’s launch in Kenya represents more than just a technology rollout; it is a commitment to fostering an inclusive financial ecosystem where lenders have access to the tools they need to succeed.
Also Read: WhatsApp Launches New Chat Feature; How to Use It
Through its platform, Lendsqr aims to strengthen local lenders’ ability to meet the increasing demand for credit while ensuring that lending remains secure, efficient, and transparent.
Lendsqr’s platform will address the unique needs of the Kenyan lending market by providing a comprehensive set of features that support the lending lifecycle, including loan origination, loan management, credit decisions, data analytics, loan collection, and recovery.
ADVERT
Other benefits that Kenyan lenders will gain from the platform
Additionally, the Lendsqr platform offers advanced technology at one of the most affordable rates, which allows lenders to integrate their existing core banking and ERP systems.
This seamless integration supports lenders in building a cohesive, powerful infrastructure tailored to their needs.
Also Read: Safaricom Launches Recurring M-PESA Ratiba Payments; Benefits & How to Use
Notably, in a first-of-its-kind feature, lenders could request videos in the loan origination process, which not only reduces fraud but uses advanced AI capabilities that could use video and voice for faster and more secure underwriting.
Lendsqr has now become part of the group of well-known loan management system providers in Kenya, including Kwara and Presta.
These companies offer technology solutions to lenders in Kenya, aiming to foster significant growth in the SME economic subsector.
Follow our WhatsApp Channel and join our WhatsApp Group for real-time news updates.
