Overview

The growing adoption of technology with the increasing use of digital-based services in Nigeria has significantly driven the online lending market. The introduction of digital platforms for lending has greatly helped connect lenders and borrowers while also offering a superior lending experience. Startups, individuals, and even established companies are leaning towards such marketplaces to access easy and quick loans.

Our main focus is to provide the capability to connect lenders with borrowers faster and easier. Below are some of the key features of the service we provide:

• Easy, fast, and convenient access to loans
• Automated credit scoring system
• Convenient loan collection and disbursement capability
• Customer transaction history information, and a host of other services

Our key partners include:

• Financial Institutions
• Credit Service Providers
• Credit Channel Providers
• Payment Service Providers
• Data Providers

We are able to provide this service to our customers via various channels like:

• Web
• Mobile
• API
• USSD

Service Features

Lending service has three(3) unique features we offer to our lenders to help them maximize value:

1. Loan Disbursement
Loan disbursement is a service offering of ILS. Lender's bank is debited to credit the corresponding customers' bank for funds disbursed by the lender.

• Customer requests for loans can be made through any Interswitch-connected Channels (ATM, Quickteller Web, USSD, Bank Apps and Third Partner Websites, etc).
• Interswitch lending Platform forwards the customer's loan request and data (anonymized) to the lender for evaluation.
• The lender evaluates customer eligibility and forwards the approved loan to Interswitch to initiate a transfer to the customer account.
• Interswitch leverages its connection to Quickteller for onward credit transfer to the customer’s bank account.

2. Loan Collection/Repayment
There are two variants of loan collection:

• Customer Initiated Repayment (Manual): Customer visits any of the Interswitch channels (USSD, Quickteller, ATM, Bank branch etc.) OR Third Party Channels with Pay With Transfer Capability to pay back an outstanding loan.

• Lender Initiated Repayment (Automatic): Lender initiates direct debit to the customer's account to settle the loan.

3. Data Service & Credit Scoring

• The data service is an API-based service that provides customer validation, and aggregated and anonymized datasets.
• Credit Scoring to determine the eligibility of customers for the loan

Lending Service Offerings

Apart from nano loans, We offer a host of other services to our lenders and customers. These include

a. Nano Loans
This is a feature that enables low-to-high credit facilities by connecting loan providers to borrowers via various channels.

b. Value Financing
This feature enables customers to make payments for services on credit. The solution is to enable customers to buy now and pay later using loans from the Lenders on the Lending Service.

c. Salary Lending
An extension of lending service offerings to salary earners.

Other services you should watch out for:

• Merchant lending
• POS Lending
• Agent Lending
• Device Lending
• Car Lending
• etc.

Ancilliary Enablers

a. Unique Lender Pages
A feature that enables high-value lending and the possibility for lenders to drive traffic to dedicated links.

b. Hosted Fields
This feature enables non-PCIDSS compliant channel owners to collect customer payment instruments on their channel.