The Guardian’s Special Focus on Most Dependable, Value-Driven Credit and Loan firm in Nigeria

Nigeria is a highly business-oriented economy with an estimated 37 million micro, small and medium-sized companies (MSMEs). The entrepreneurial economy contributes roughly 48% of the country’s gross domestic product and employs over 60 million people, making Nigeria the largest economy in sub-Saharan Africa. Meanwhile, financial risk is one of the major risks facing owners of business.
Although these numbers look promising, few businesses are successful in obtaining loans from financial institutions. According to keen watchers, of the 840 MSMEs surveyed in Nigeria, only31% successfully obtained a loan from a bank or microfinance institution. MSMEs are often burdened by a myriad of challenges like multiple taxation systems and high costs. The risks associated with credit access in Nigeria stem from many causes.
Nevertheless, by leveraging new data techniques and capitalizing on strong relationships with consumers, loans and credit firms are expanding their market share. More importantly, while online lenders’ share of consumer credit markets continues to grow, a number of them are delivering a more personalized and efficient borrowing experience via a dynamic blend of digital and human service in loan marketplace.
Therefore, as the nation’s business landscape is being positively transformed through innovative consumer lending process driven by fintech solutions, and the market is witnessing a number of well-structured loans and investment products for both private and public sectors, The Guardian examines the efforts of the strategic teams behind the success story of Page International Financial Services Limited and Fundquest Financial Services Limited, amd how they are adding values by stimulating the nation’s economy, especially the support being given to struggling businesses in the current economic mileu.

Why Page Financials’ leading with innovation, competitive advantage, by Akintemi

Page International Financial Services Limited (also known as Page Financials), is an innovative retail finance institution (Licensed by the Central Bank of Nigeria) offering outstanding products and services to suit the financial requirements of a diverse clientele. Page commenced business in 2014 and has since been at the fore-front of delivering retail financial services in an unprecedented manner to esteemed customers across Nigeria. 

Driven by the corporate pillars of innovation and excellent service delivery, emphasis is placed on the relevance of products to meet the changing needs of customers through the milestones of their lives. These digitally enabled products create easy access for customers through the web, mobile applications and USSD.

With range of products in three key ares of loans (which covers personal, group and business loansbased on customers’ unique needs), investments and payments, Page Financials offers financial enablement to ensure a solid financial partnership with customers as they achieve their goals and aspirations

On its investments portfolio, Page Financials enables customers achieve their short and long-term financial goals by offering competitive returns on investments. They serve as security for customers’ financial plans and provide regular periodic income that can be reinvested. The investments provide customers with diversification benefits on their asset portfolio and can be built up to make major purchases and payments, this product is available to both individuals and corporations. 

As for payments, Page Financials is focused on offering a 360 degrees financial solution to its customers. The payments product makes the solutions lifecycle complete for Page customers. Driven by a secured and easy to use online internet platform and revolutionary mobile app, the product enables customers access their financial relationships and commitements at anytime and from anywhere with record speed and convenience. In addition, customers can make bills Payments and transfer funds to third party accounts at no cost (zero charges).

Concerning what gives Page the competitive advantage, Akintemi stressed that “At Page Financials, innovation is prioritized to meet the fast-changing needs of the increasing customer base – currently over 100,000. In the course of the growth journey, a number of initiatives and programs have been embarked upon targeted at driving the vision to remain a leader and key player in retail financing. Some of the notable achievements are:

He noted that the company’s digital transformation has achieved a remarkable degree of digital transformation evident in its products and processes. Services are now more than ever, easily accessible to customers digitally via various service channels (online, Mobile APP and USSD platforms). This is aimed at improving customer experience and ease of use.

While speaking further on process innovation, he maintained that “deploying world class technology and placing emphasis on training and empowerment of employees to use them. The Staff of Page Financials are able to understand and address customers’ evolving needs, one of which is to access loans at record speed without comprising the quality of credit reviews and analysis. This is also aimed at improving customers’ experience and helping them achieve their goals especially where timing is a factor. 

On Page Financials’ 24/7 customer service, he explained that “Access to Information and support is critical to customers, especially with the urgency that comes with financial obligations, therefore, Page Financials ensures customers get unhindered access to service with a synergic combination of technology and people to achieve 24/7 availability.

The customer experience team leverage tech tools to offer round-the-clock assistance to customers and ensure they have all the information and assistance they need to make informed financial decisions. Customers can access the team through live chats on the website and mobile app, AI powered chatbot on social media platforms, phone lines, branch service personnel, and email. 

Based on its leading, innovative and value-driven products and services, in 2020, Page Financials was recognized at the 8th edition of the BAFI Awards event as the Consumer Credit Brand of the Year and the Most Innovative Consumer Lender of the Year. Page Financials has continued to distinguish itself in the Nigerian financial services industry through superior service offering, unique customer experience and sound financial indices. The Institution has remained a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of channels that ensure convenience and speed within a secure environment and without compromising sound credit practices.  

In 2021, Page Financials CEO, Mr. Segun Akintemi, was also recognized as the Non-Bank Financial Institution CEO of the year by Business Day Banks and Other Financial Institutions (BAFI) Awards. This is in recognition of the quality of leadership he exudes in steering the organization to a transformational and innovative future. 

For more enquiries on any of the products, please visit a Page Financials branch or website (www.pagefinancials.com). You can also send an email to ([email protected]) or call (017007243).

Why FundQuest remains value-driven, dependable credit and loan firm, by Akinjayeju

FundQuest is a CBN licensed financial institution that is currently in her 10th year of operation. We operate from Nigeria’s commercial hub, Lagos State and extend our services all around the country. I must say that it has been an extreme privilege for me to serve as the Managing Director/CEO of this great financial institution over the years, says Abiodun Akinjayeju. 

Since inception, FundQuest has been operating within the mid-tier of the Nigerian financial system, offering Loans, Leases, Investments, Funds Management, and Financial Advisory Services to customers across all sectors of the economy. Our loan products have been centered around tailor made funding to registered Small and Medium Enterprises that have been in operation for at least one year. While our investment offering boasts of competitive interest rate with better returns on investment with greater flexibility for investors to access their funds than most of our competitors.

FundQuest has been a dependable organization (i.e. easily approachable) in this last decade, offering Funding and Financing Solutions which has added immense value to individual and MSME growth in Nigeria in a much differentiated FundQuest.  We also intend to continue to do so for the foreseeable future. 

2020 was a year that took the world by surprise with the global outbreak of the Corona Virus pandemic shutting down world economy for months, and Nigeria was no exception. Whilst this period was filled with uncertainty, FundQuest was there in a measured and reassured way for our customers and provided our support during this turbulent period. Several clients were offered payment moratorium, interest rate concession, loan restructuring, reduced interest/charges on new loans, and free business advisory on how to navigate through the challenges associated with Covid-19. We also educated our clients on the need to have a realistic business-continuity plan and solid corporate governance structure in preparation for any future uncertainties. 

Industries and businesses do come with their challenges, but the pertinent issues facing the financial services industry among others is ascertaining credit worthiness of clients with reliable adequate data. FundQuest has been able to work rigorously to a large extent through expertise within the organization in analysing their suitability in meeting the expectations of our clients despite the challenges on adequate data needed.

Apart from the varieties of products we offer to our clients, we also offer business advisory on how their businesses can grow in leaps, when and how funds can be secured and we take them by the hands to succeed in their businesses. We are intentional in doing these because granting credit to our client is not only our focus; giving business advises to help them grow makes us a better organization to partner with. This is an added value which sets us apart as an organisation.

Strategically, the Board of FundQuest has been able to bring in more investors to the organization as a result of our past performances which shows that we are forward-thinking in growing our business capital so that many more MSMEs and individuals would be reached and can partner with our services. This will also help to situate FundQuest as a key player in the credit space within the financial sector.

In conclusion, we at FundQuest (www.fundquestnigeria.com) can say that adding value to our clients and MSMEs in general has not been a fluke. In the recent rise of so many loan sharks and fraudulent institutions cashing out on the gullible masses, it has been a deliberate act for FundQuest both strategically and in terms of routine operations, to uphold our mandates of being the best at what we do and we have been at this for almost a decade and counting.

We also acknowledge that adding value flows both ways, that is why we ensure that adequate feedbacks from all quarters (Clients, Regulators, Stakeholders etc.) are taken into consideration in order to always be better and surpasses all expectations.