Welcome to the step-by-step guide on how to create digital collections using Lydia Collect. Today we will guide you through creating and managing your collections with four simple steps. So let’s dive right in! Step 1: Access Lydia Webapp and create your account To get started with Lydia Collect, you must access the Lydia webapp and create your account. Please have your Certificate of Incorporation, CAC 2, CAC 7 and your BVN handy. Once you’ve done that, you can start creating your collections. When creating your collections, you must first identify your customers through BVN. BVN is a unique identifier that Lydia…
Author: admin
According to The Women Entrepreneurship Development in Nigeria: the Effect of Environmental Factors Report, women-owned businesses account for approximately 35% of all businesses in Nigeria, one of the world’s highest rates. Despite this, women entrepreneurs in Nigeria still face significant challenges in accessing funding and other resources to start and grow their businesses.Globally, women entrepreneurs face similar challenges. According to a report from the Global Entrepreneurship Monitor, women entrepreneurs receive only 2% of venture capital funding worldwide, despite owning 38% of all businesses. Women entrepreneurs also tend to have smaller businesses with lower levels of revenue and profitability than their…
Lidya Collect is a powerful and efficient solution for businesses to streamline their payment collection process. Here are some frequently asked questions that can help you understand the product better: What is Lidya Collect? Lidya Collect is a payment collection platform designed to help businesses automate their payment collection process and manage their cash flow effectively. It offers a range of features that simplify the payment collection process and make it easier for businesses to get paid on time. How does Lidya Collect work? Lidya Collect works by integrating with your existing payment gateway and invoicing system. You can easily…
The financial technology (fintech) scene in Nigeria is more vibrant everyday! With more and more people getting access to digital technologies, a thriving economy, and a growing population, there’s no shortage of amazing things happening. Here are five things that are making us excited in the fintech space in Nigeria right now. Microfinance Banks and Solutions Fintech space in Nigeria right now. With the rise of fintech, more and more microfinance banks and financial solutions are emerging to serve communities that were previously underserved. This is a major step forward for financial inclusion in Nigeria, and it is helping to…
On January 2023, Lidya hosted the MicroFinance 2.0 – Digitize your MFB today roundtable to discuss the opportunities and challenges presented to the Microfinance ecosystem in Nigeria. It was a great moment to share experiences and understand how microfinance organizations can seize the digital opportunity and revolutionize their assessment, disbursement, and collections of credit, today. At this event, we met with more than 40 different MFBs in Lagos and we were delighted to have our partner Accion sharing their experience with Lidya as the primary Credit Enabler for their business. Both Taiwo Joda, CEO Accion MFB and Tunde Kehinde, CEO Lidya…
As a Microfinance Institution (MFB) or business owner, you know the struggle of trying to collect payments from customers. It can be time-consuming and sometimes stressful between failed payments and chasing up customers. But what if we told you that you could make it all a lot easier? Lidya Collect is here to help! With Lidya Collect, you can improve your accounts receivables and make sure you receive all your payments without the hassle. It’s like having a personal assistant handling all your collections for you, like clockwork! Here’s how it works: once you’ve onboarded your customers, you can request a Collect Authorization from…
At Lidya, we’re on a mission to unleash the full potential of the world’s most entrepreneurial businesses. We’re the financial sidekick for the bold, the driven, and the creatively unstoppable. We believe that money should never hold anyone back from chasing their dreams and living life to the fullest. That’s why we’re on a quest to bring financial freedom to every person, business, and unicorn out there. We use data to find well-run businesses, and then we arm them with the technological tools they need to reach for the stars – from valuable collection tools to affordable digital payments, to…
Microfinance banks in Nigeria play a vital role in providing financial services to small businesses and individuals who lack access to traditional banking services. But, like any business, they have their own sets of challenges. And one of the biggest challenges is collecting loan payments. That’s where a collection automation solution like Lidya Collect comes in to save the day. Collection automation is just a fancy way of saying using technology to make the process of collecting loan payments a whole lot easier. Lidya Collect is a software tool that helps automate, manage and track payments. There are several reasons…
As we step into the great unknown, we want to thank you for supporting us at each step of the way. Didn’t get a chance to support us? Well, obviously we hope that it changes this year! We are looking forward to another amazing year where Finance on Demand in Nigeria will slowly but surely be the new norm. And we are just getting started. The great William Shakespeare once said there is nothing either good or bad, but thinking makes it so. Well, we think there is still more to be done from our side so business owners and…
The Central Bank of Nigeria revealed its intentions to revamp the N100, N200, N500, and N1000 in order to address inflation, assume charge of the available cash, and combat counterfeiting. It added that the action would benefit the bank in its efforts to combat security and financial fraud. According to the bank’s governor, Godwin Emefiele, the idea would enable the bank to seize N2.73 trillion of the N3.23 trillion in circulating cash that is not kept in the bank’s vaults. The bank has urged Nigerians to exchange their outdated notes for the new ones that will go into circulation on…