Lendsqr, a Nigerian fintech that specialises in loan management software, has recently expanded into Kenya, bringing an innovative loan processing platform that promises to optimise efficiency for banks, microfinance institutions, and digital lenders. By leveraging AI, the platform’s mission is to streamline each stage of the lending process, from loan origination to credit decisioning, while enhancing data analytics and management capabilities. This expansion is in line with Lendsqr’s mission to support financial institutions across Africa in achieving sustainable growth and effective service delivery.
The platform’s standout feature is its integration of video within the loan origination process, enabling AI to assist in underwriting. This approach offers lenders greater accuracy and speed, elevating both the security of credit assessments and the customer experience. According to Adedeji Olowe, Founder of Lendsqr, the company’s move into Kenya represents an essential step toward providing customised solutions that fit the needs of local financial systems.
Fintech’s Role in African Financial Inclusion
Lendsqr’s expansion is part of a broader trend of African fintechs such as Flutterwave and Paystack, which are actively scaling their operations to support the continent’s financial ecosystems. These companies are increasingly deploying AI to improve processes like fraud detection, personalised lending, and customer service. For Lendsqr, AI-powered video verification offers a secure means of improving underwriting accuracy, underscoring how African fintechs are driving secure, efficient loan processes.
The platform’s seamless integration with core banking and ERP systems is another strong point, enabling lenders to tailor their infrastructure to specific requirements and improve operational efficiency. In October 2024, Lendsqr launched a ₦1 billion on-lending initiative in Nigeria, providing digital lenders with the capital needed to extend credit to a broader audience. By entering the Kenyan market, Lendsqr hopes to replicate its Nigerian success and contribute meaningfully to financial inclusion efforts in East Africa.
Lendsqr’s Vision for Kenya
As Kenya continues to embrace digital banking solutions, Lendsqr’s AI-driven platform is poised to play a key role in reshaping the country’s lending sector. Through this expansion, Lendsqr supports the Kenyan government’s broader goal of improving access to credit and building a robust financial system, aligning with ongoing efforts to make East Africa a financial hub.
