Online credit market in Nigeria saw a new entrant as Kudi Capital Management Ltd on April 26, announced the public launch of Kudimoney.com a fully licensed online lending platform offering unsecured personal loans to consumers in Nigeria.
Kudimoney differs from the likes of OneFinance, Kiakia, C24, Snapcredit, QuickCheck and many others offering uncollateralised loans to individuals by offering theirs in one hour . Already the company has over 5,000 registered members on the site in Nigeria.
The outfit was founded last year by Babs Ogundeyi, a banker with over fifteen years experience and a former senior special assistant to the Oyo state governor.
“At Kudimoney we are offering an option for consumers who are searching for a simple hassle-free loan alternative for everyday needs. Technology offers boundless opportunities to make everyday living better. Finance is integral to daily living and Kudimoney offers both said Ogundeyi.
A release by the company says through the online platform kudimoney.com, creditworthy borrowers can apply for fixed-rate, no-fee personal loans of up to N1,000,000 over a six-month period. Applicants are assessed and receive an immediate credit decision, followed by automated verification steps for final approval.
Kudi Capital seeks to provide an online lending platform dedicated to creating innovative and practical financial products providing Nigerian residents with access to easy, secure, transparent, and flexible loans.
“There are no lengthy loan approval processes as Kudimoney membership can be completed online, allowing customers to apply for a loan 247 as long as they are Nigerian residents,” says a statement from the company.
It adds, “There are no hidden fees, no early repayment penalties and limited payment options. Kudimoney is transparent and customers can choose their monthly payment date and a payment option designed to fit their budget.”
The process involves logging on their website, completing a registration form, choose and calculate loan repayment plan and fill an application and receive verification. Over the next few months, the promoter of Kudimoney says the company will roll out various innovative loan products targeted at both individuals and small businesses.
The company has also applied for a banking license from Central Bank of Nigeria to officially become an online bank offering revolutionary current and savings accounts to all Kudimoney customers.
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