Andray Finance Takes on Predatory Loan Apps With AI-Powered SaaS Platform
- Andray Finance launches a SaaS platform to combat predatory lending practices in Nigeria's digital lending market
- New technology aims to restore trust and fairness while ensuring borrowers' data privacy and dignity
- By serving informal workers, Andray Finance paves the way for long-term financial inclusion and ethical lending practices
In a bold push against Nigeria’s fast-growing army of predatory digital lenders, Andray Finance has launched a Software-as-a-Service platform aimed at restoring trust, dignity, and fairness to the country’s lending ecosystem.
The new platform comes at a time when loan apps have expanded access to credit but also earned a reputation for excessive interest rates, invasive data access, and public shaming of borrowers who default.
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For millions of Nigerians, especially those outside the formal banking system, borrowing has increasingly become a risky last resort.
Andray Finance says its solution replaces harassment with technology, using data science rather than intimidation to assess creditworthiness and manage risk.
A digital lending market under scrutiny
Nigeria’s digital lending boom has been a double-edged sword. While fintech innovation has helped bridge gaps left by traditional banks, weak regulation has allowed some operators to exploit borrowers through unethical recovery practices.
Defaulters are often subjected to threatening messages or exposed to friends, family, and colleagues through contact lists scraped from their phones.
This erosion of trust has created a credibility crisis for the entire sector. Andray Finance is positioning its SaaS platform as a direct response to that problem.
Algorithm over harassment
Headquartered at Cardinal Place, 13 Ayo Babatunde Crescent, Oniru, Lekki, Lagos, Andray Finance runs on an AI-driven SaaS infrastructure that rethinks how lending risk is measured.
Instead of relying on collateral, payslips, or rigid credit histories that exclude informal workers, the platform analyses alternative data such as transaction behaviour, cash flow patterns, and repayment habits to build dynamic borrower profiles.
“We realised the problem is not that unbanked Nigerians are risky, but that the traditional system does not understand them,” said Wealth Jumbo, Operational Manager at Andray Finance.
“Our technology allows us to assess people fairly without trapping them in predatory interest rates or humiliating recovery tactics.”
Serving Nigeria’s ‘invisible’ economy
The platform is built for micro-entrepreneurs, traders, artisans, and informal workers who form the backbone of Nigeria’s economy but remain largely invisible to banks.
By automating the full credit lifecycle through its SaaS model, Andray Finance significantly lowers the cost of lending. Those efficiencies are passed on to borrowers in the form of more affordable and transparent loan terms.
A core feature of the platform is its Financial Dignity Protocol, which enforces strict data privacy and forbids shaming, harassment, or third-party disclosure. Borrowers’ financial challenges remain confidential, a sharp departure from industry norms.
Building credit, not just giving loans
Beyond short-term lending, Andray Finance sees its platform as a pathway to long-term financial inclusion. Every transaction helps users build a verifiable credit footprint that can unlock access to larger financial products over time.
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“Our mission is to show that ethical lending can be both sustainable and profitable,” Jumbo said. “Every Nigerian deserves to be treated with respect while accessing financial opportunity.”
For more information, visit andrayfinance.com or follow Andray Finance on Instagram and Facebook.
FCCPC targets 103 loan apps for ban
Legit.ng earlier reported that No fewer than 521 digital lending companies have fallen under the regulatory oversight of the Federal Competition and Consumer Protection Commission (FCCPC) as the agency intensifies efforts to sanitise Nigeria’s fast-growing digital credit market.
This follows the expiration of the January 5, 2026, deadline for compliance with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025.
The FCCPC regulations require all digital lenders operating in Nigeria, whether app-based, online, or through other non-traditional channels, to register with the Commission and comply fully with its consumer protection rules.
Source: Legit.ng
