Hello everyone, our topic today will be on how to go about starting up a Money lending service or short term loan services in Nigeria and build a Mobile App for it also. In recent years there has been a huge surge in the demand of Fintech services in Nigeria. As technology is constantly reshaping the way we transact and go about doing business. With internet penetration on a steady increase across Nigeria, Financial services providers are been forced to innovate to meet customer satisfaction. Which is why we’ll be discussing, How To get Money Lending Web and Mobile Apps In Nigeria

One of the most important pillars of every economy around the world is the MSME’s. Of which many of them also require access to loans to either expand their businesses or buy new equipment and machinery. Which is what has given birth to Fintech companies in Nigeria, who render short term loans to individuals and businesses. Most of which can be accessed within 15-20 minutes, and they can start from as low as N20,000 and reach as high as N5,000,000. Making them the preferred choice for most individuals and small businesses.
There are a number of them operating out there like Paylater (Carbon), Branch, RenMoney, and more recently Quickteller has also launched theirs.
There is no piont discusing how profitable the business is, as it is a sure money maker most especially if well operated with all the necessary quality of human resources, Digital Tools which of course will require the services of a trusted Web Design Company in Nigeria.
To help You get Money Lending Web and Mobile Apps In Nigeria Not forgetting also, the level of Marketing that is needed.
So quickly we’ll briefly highlight some of the most important things that you must put in place to operate one.

OBTAINING OF LICENCES: You must obtain all the necessary licences from the relevant government agencies. This is after you must have properly Registered your company with the C.A.C There’re a number of requirements that you must meet up with which we’ve carefully highlighted in this post ‘ HOW TO GET A MONEY LENDING SERVICE LICENSE IN NIGERIA’. As at the time of putting together this article (January 2020) the CBN Licence that allows you to begin full operations mandates that you have a minimum Deposit of N20,000,000 (Twenty million Naira) amongst a few other requirements. It is also important that we state categorically that it is not advisable that you go about doing this on your own, as it is better done with the expertise of a Lawyer.

GET A WEB AND MOBILE APP: As you already know that this business is technology driven. Which means that you must have very sophisticated Digital Tools at your disposal, with which you’ll monitor and operate your business. Your Web and Mobile App will have to be built with SECURITY, SECURITY and SECURITY in mind. As you’ll be handling an array of very sensitive financial data of people and their businesses, which in turn means that you’ll need to hire a trusted Web Design Company in Nigeria, to give you a beautiful Web and Mobile App design that is also very functional.

MARKETING: You’ll need to aggressively market your Money lending services to Nigerians, And one sure place to find people who will be interested in patronizing your services is social media. Platforms like Facebook, Instagram and Twitter etc will be crucial for the growth and survival of your money lending business. But due to the constant changes that are made by these social media giants in their algorithms. Which is primarily geared towards serving their users better and also to be in compliance with the strict rules and laws of regulatory bodies in the USA and the EU (European Union). It is wiser and more profitable to hire a team of Social Media Managers in Nigeria, to help you push your brand in the online space to carefully targeted audience who might need your services.

Finally there’re a number of other things that we cannot discuss in this article, but as soon as your company is prepared to begin the journey into the Fintech world, We at NEW CONNECT are always ready to help you Design and Develop your Money lending services Web and Mobile Applications.
Contact us today
Call or Whatsapp NEW CONNECT +234 808 970 0958