Having access to resources that provide clear financial guidance can make a lot of difference in financial decision making. Providing a service that caters to people with this need is important to foster financial accessibility and inclusivity. This is why Daniel Osineye and Nelson Akan created Evolve Credit, a digital credit resource and loan marketplace that gives individuals and small businesses both the informational resources to make borrowing decisions and an array of credit sources to choose from.
Access to credit is essential for financial progression, for both individuals and small businesses. Evolve Credit has provided its customers and people all over Nigeria with a platform to find and compare various credit sources, from digital lenders to commercial banks, and sufficient details to make more informed borrowing decisions.
Evolve Credit also acts as an end-to-end lending platform and conduit between borrowers and lenders, such that users can choose a credit source, apply for personal, rent, and SME loans from ₦2000 to up to ₦10million, and access the funds once approved. To achieve this feat, the team needed a solution that would allow them to collect bank statements as a part of the loan application process.
Speaking to Daniel Osineye, the co-founder and CTO of Evolve Credit, he said, "We use Mono to securely access the borrowers' bank statements as one of the ways to evaluate their creditworthiness. We also use this information to make the best loan recommendations to our users, so that they can access funds at terms that are favourable for their income levels."
With Mono Statement Pages, the Evolve Credit team has created a seamless loan application process for their customers. Being able to rely on this technology is also highly important to the team, "For borrowers, it is easy to simply sign in and submit their bank statements. We can trust Mono over 90% of the time which is better than our previous provider. This ease and reliability are our favourite things about Mono. We also get timely and helpful support whenever we need it."
The Evolve Credit team is focused on incorporating more technology into its processes to create a robust experience for people who need access to credit. Daniel adds, "We're looking forward to integrating the Mono TransferPay product that will allow seamless collections for lenders and easy repayments for borrowers."
Looking to build more robust lending experiences for your users, like Evolve Credit? Start collecting bank statements today without writing a single line of code. Simply request access to get started with a ₦2000 free API call credit or drop us a line at firstname.lastname@example.org. Make sure to follow us on Twitter and Instagram to stay in the loop of our latest announcements.