Platform Features

The Nano Lending—Interswitch & LightWay Finance platform is designed with robust, modular capabilities to ensure secure, efficient, and user-friendly loan platform. Below are the core features and functionalities:

1. User Management & Onboarding

• Customer registration and profile management

• Identity verification (via BVN, NIN, or KYC providers)

• Account linking with existing bank or wallet accounts

• Multi-factor authentication (MFA) for secure access

2. Loan Eligibility & Offer Engine

• Eligibility check through Interswitch Lending Service (ILS) APIs

• Dynamic loan offer generation based on scoring models

• Display of loan amount, tenor, repayment schedule, and interest rate

• Multiple loan options for users to choose from

3. Loan Application & Acceptance

• User-friendly flow to review and accept loan terms

• Digital consent capture (PIN, OTP, or biometric authentication)

• Real-time loan request submission to Interswitch APIs

• Automatic loan disbursement to user’s linked account upon approval

4. Repayment Management

• Flexible repayment options (auto-debit, bank transfer, wallet repayment)

• Real-time repayment notification and reconciliation with Interswitch

• Early repayment option with recalculated interest (if applicable)

• Handling of failed or partial payments with retry logic

5. Notifications & Communication

• Instant loan status updates (application, approval, disbursement, repayment reminders)

• Multi-channel notifications via SMS, email, and push messages

• Alerts for missed payments, penalties, or fraud detection

6. Admin & Operations Dashboard

• Loan lifecycle monitoring (applications, disbursements, repayments)

• KYC review and customer account management

• Fraud monitoring and alert handling

• Manual overrides for exceptions (repayment corrections, dispute resolution)

• Access-controlled roles for staff (admin, finance, support, compliance)

7. Security & Auditing Framework

• Full audit trail of loan requests, approvals, and repayments

• Data encryption in transit and at rest

• Strict role-based access control (RBAC)

• Compliance with CBN lending regulations, AML, and KYC policies

8. Reporting & Analytics Module

• Loan performance dashboards (approval rates, repayment rates, NPL ratios)

• Customer behavior analytics (borrowing trends, repeat loans, default risks)

• Regulatory reporting for compliance

• Business intelligence to support product optimization