In Nigeria, only 4% of the adult population has access to credit through formal financial institutions. You have to pay fees like rent, hospital bills and more upfront. Yet access to credit is limited to just a small segment of the huge population.
Digital lenders like QuickCheck are succeeding in a consumer segment where banks and microfinance institutions are still struggling – we have a competitive advantage given by technology. Customers appreciate our speed and hassle-free access to credit → no paperwork, queues, collateral or guarantors, just a smartphone and the QuickCheck app, which is often not the case with traditional financial institutions.