QuickCheck, an online banking and micro-lending platform that provides collateral-free loans, has launched a new app to improve financial inclusion among Nigerians.
It also educates borrowers about financial instruments and managing risky debts.
About 60 per cent of the country’s adult population remains financially excluded, lacks credit history and cannot access financial services such as quick and easy loans.
According to Luis Rodrigues, CTO, QuickCheck, this was addressed in 2017 as the company developed a solution to give Nigerians access to such loans anywhere and anytime, with no collateral necessary.
The startup already helps individuals with access to loans up to N200,000 in minutes, thereby supporting entrepreneurs start and sustain micro-businesses.
“With the new app, we want Nigerians to access loans quickly and conveniently. So if you live in Nigeria, own an Android phone, and you need quick cash to settle emergencies, go on Google Play Store, search for “quickcheck” and spot our bright orange icon to download the QuickCheck loan app for free, sign up to create an account and apply for a loan instantly without collateral.
QuickCheck will simply run a credit scoring, and if you’re eligible, the cash loan will be disbursed to your account within minutes. All the necessary information to access loans is also available on our website www.quickcheck.ng,” he said.
Having built its own credit scoring algorithm based on artificial intelligence applied to non-traditional data, the internal data science team actively works on the improvement of the assessment technology to make the procedure of getting a loan even faster, more streamlined, and tailored to the needs of different groups.
“Currently, we are experiencing exponential organic growth and are closing a couple of strategic partnerships to get even closer to our customers, by integrating our technology and credit offering where they need it, within those channels they are already accustomed to. We strongly believe in the product innovation, and therefore, we invest a lot in the exploration of complementary products”, Fabiano di Tomaso, CEO of QuickCheck said.