Crendly’s Character-Based AI Revolutionizes Access to Finance in Nigeria

Source: TechCabal

Poised to redefine financial access, Crendly announces the launch of its platform; a marketplace for loans. It’s credit-risk algorithm and platform is a move set to empower Nigerians and their businesses in achieving their financial aspirations. By harnessing the power of the proprietary human character-based set of Algorithms, Crendly is democratizing access to credit by making it a reality for a wider segment of the population to access credit in a market where this has been a longstanding issue while also fostering economic and financial inclusion in emerging markets.

In a country with a population of over 200 million, less than 10 percent of Nigerians have access to credit facilities with high interest rates and little or irregular income being the major barriers. The AI-driven nature of Crendly’s API will extend new capabilities to financial institutions by adapting and growing with new data. It will allow them transcend traditional boundaries in credit provision by offering precise, bias-free lending decisions to a diverse range of customers, including those beyond their existing customer base. The flexibility and autonomy offered by Crendly are based on the premise that borrowers are empowered to define their loan terms or negotiate directly with lenders in the marketplace.