Lenders’ top priority should be to avoid any bad debts in the first place. As a result, lenders should be aware of their borrowers’ financial capabilities. You take a chance each time you extend a loan. It is simple to grant loans to reputable borrowers. …

In the lending industry, bad debts are unavoidable. Despite your best efforts, there may be times when you must declare certain debts to be bad. Despite having a solid financial history, borrowers frequently encounter unforeseen circumstances for which they may not be able to make ends meet. …

Are you a lender who wants to stop bad loans from stacking up? Are you concerned that borrowers may commit fraud to accumulate more debt at greater interest rates? If the answer is yes, you should be concerned because lenders frequently engage in this behavior. How can lenders prevent it? …

Loan stacking is a term that refers to when a borrower has multiple loans open at the same time. This term is most commonly used when borrowers apply for and are approved for many short-term loans with identical interest rates and repayment periods in quick succession. Several lenders are typically…

Consumer credit is a type of loan where the borrower agrees to pay back a certain amount at regular intervals over a period of time. The borrower pays interest on top of the principal amount borrowed. …

Since we went live in June, we have been working hard to ensure that we continuously improve our services to meet the needs of our customers. Last week we announced a price reduction by 60% on a number of Identity services and today we are proud to announce the introduction…

A lot of small businesses find it difficult to finance their business maybe because they are just starting out in business or they are low capital wise and this results in these business owners seeking financial help. Most of them consider borrowing money from financial institutions as their first option…

Creditworthiness is a method for assessing a potential borrower’s loan payment history to decide whether they are an eligible customer who should be offered a future loan. A lender’s willingness to trust users to pay their debts is determined by their creditworthiness. A creditworthy borrower is one that a lender…

A year ago, Lionel and I set out to build what we hoped would be the “Credit karma for Africa” That plan didn’t go so well. After we launched the first version in December 2021 and onboarded a few hundred users in the first two weeks; we quickly realized, as…