Nigeria is evolving into credit 3.0
Nigeria is evolving into credit 3.0, writes Maro Elias: "So, what does the credit 3.0 infrastructure stack look like? There are four main layers of this stack:
1. Underwriting Layer: the ability to verify whether a prospective borrower has the capacity to repay a facility being issued to them.
2. Digital Mandate Setup: the ability to set up fully digital debit authorisations on a borrower’s bank account in seconds.
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3. Digital disbursement: the ability to send approved funds to a borrower’s account digitally
4. Consequence Layer: the layer that documents the journey from 1-3, deduces whether a borrower is good or bad, and feeds that information back into the underwriting layer."
If you are in the fintech space, this piece is a required read....here
