Nigerian Financial Inclusion Awards has recognised Social Lender, a lending solution based platform that uses social reputation on mobile, online and social media to disburse loan to people as the Most Socially-Relevant Data Service Company of the year.
Social Lender won the award at the Inclusive Financial Nigeria Conference and Awards (IFINCA) held in Lagos last week.
IFINCA is a national policy platform on financial inclusion setup with the objective of enabling cross-pollination of best practices and breakthroughs, specifically to influence Nigeria’s financial inclusion strategy and campaign.
The award also recognises stakeholders who are pushing financial inclusion boundaries to include people at the bottom of the pyramid into the financial inclusion space.
Receiving the award for Social Lender, MD/CEO, Social Lender, Faith Adesemowo thanked the organiser of the award for recognizing what the company is doing, describing it as a major call for the company to scale more heights in the industry.
Social Lender is a financial technology company that bridges the gap of immediate fund access to people with limited access to formal credit.
YOU MAY ALSO READ: CBN, EFIna to Launch new Financial Inclusion Report
Adesemowo pointed out that Social Lender uses its own proprietary algorithm to perform a social audit of the user on social media, online and other related platforms and gives a Social Reputation Score to each user.
“Loans are guaranteed by the user’s social profile and network allowing users to then borrow from banks and other financial institutions based on their social reputation”, she said.