Lendsqr develops AI to assess Nigerian borrowers by face and voice
- Lendsqr is building an AI model to analyze borrowers' voices and faces for loan qualification.
- The model aims to assist Nigerians without financial documentation in obtaining small loans between ₦30,000 and ₦50,000.
- Lendsqr's AI model is currently 76% accurate in predicting borrowers' repayment capacity.
Lendsqr's innovative approach to assessing creditworthiness through AI could significantly disrupt traditional lending practices, making credit more accessible to underserved populations. However, the reliance on technology raises questions about privacy and data security that need to be addressed as the model is developed and implemented.
