Nano Loans

As a lender, there are several variants available to you depending on your business model. We have several APIs you can consume to meet your business needs.

Provider Integration: This is basically for lenders that want to disburse and collect via other channels and also on their channel.
Channel Partner Integration: This is for channel owners that are not loan providers but want to enable people to get loans via their channels.
However, there are two(2) classes of channel partners - channel owners with PCIDSS license and channel owners without PCIDSS license. For the second class of channel partners (without PCIDSS license), we are able to provide hosted fields to enable them collect customer card details.
Channel Provider Integration: This is for lenders that want to disburse and collect via their own channels.

Provider Integration

There are various ways or should we say types of loan provider integration.

Loan Providers + Channel Providers (Lenders with a Channel)
Loan Providers (Lenders without a Channel)

Process flow for lenders without a channel

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Please Note:
You need to have these endpoints defined on your application - Accept Offers, Get Offers, Get Loan Status, Payment Notification.

Step 1: Make a call to Get Offers. This is for the customer to be able to get a loan offer.
Step 2: Upon receipt of the offer request, make a call to Get Customer Information and Credit Score to confirm if the customer is eligible for a loan.
Step 3: Upon validation and confirmed eligibility, return an offer to the customer. Once the customer selects your offer, an Accept Offer request is triggered.
Step 4: As part of the accept offer process, perform name validation on the customer to validate the customer's account.

Step 5: An Update Loan status should be called by the lenders in order to update the current loan

status(ACCEPTED STATE) at their end with ISW

Step 6: Provided the customer is eligible for a loan and validation checks have been completed, credit the customer.

Step 7: The provider should update the loan at their end to OPEN once the customer's account has been funded

Step 8: If step 5 is successful, send sms to the customer informing them of the credit. Sometimes, due to flaky internet connectivity or some other factors in which the credit process fails, you can perform a requery to confirm the status of the transaction.
Step 9: ** To collect payments from customers, make a call to Debit Customer.

Process flow for lenders with a channel

Step 1: Perform Name Validation on the customer.
Step 2: If Step 1 is passed, make a call to Credit Score . This is to verify the customer is eligible for a loan.
Step 3: Provided the customer is eligible for a loan, make a call to Funds Transfer. This will make a direct transfer to the bank account of the beneficiary.
Step 4: To collect payments from customers, make a call to Do Payment .

If you want your customers to make repayments using Quickteller, you can use the Channel Collections Provider endpoint

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Update Loan Status
In a scenario, where a user makes payment directly to the provider and they wish to sync the status of the loan on the service with theirs, a call can be made to Update Loan Status.

Channel Partner Integration

There are different flavours of the channel partner integration.

PCIDSS Licensed Channel Partner + Market Place of Loan Providers
Non PCIDSS Licensed Channel Partner + Market Place of Loan Providers

Process flow for PCIDSS licensed channel partners
Disbursement
Step 1: Make a call to Get Providers.
Step 2: Make a call to Get Offers or Get Multiple Provider Offers . This will list out loan offers that are available to the customer from which they can choose.
Step 3: After the customer selects an offer, make a call to Get Payment Methods to check if the customer has the payment instrument in their payphone wallet and the validity of the payment instrument.
Step 4: Collect customer card details in order to accept loan.
Step 5: Perform two-factor authentication by calling Get Token With Token Validation and Complete Get Token With OTP.
Step 6: Afterwards, Accept Offer

Collection
Step 1: Make a call to Get Customer Status to check if the customer has an open loan.
Step 2: Make a call to Get Loan Status
Step 3: Initiate a debit.
Step 4: Send a payment notification to the customer

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For Non-PCIDSS licensed channel partners, the flow is same as the PCIDSS licensed asides the introduction of Hosted Fields

Other flavours of the channel partner integration are described in the flow charts below

PCIDSS Licensed Channel Partner + Option to Specify Loan Providers

Non PCIDSS Licensed Channel Partner + Option to Specify Loan Providers