Quick Check
Quick Check

QuickCheck onboards only real customers faster- thanks to Digital Identity Verification Process.

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Consumer lending is booming in Nigeria, and only a few companies have been able to capitalize on the trend better than QuickCheck. Having launched as a Fintech company in 2017, QuickCheck deployed its device financing solution in 2021, offering hassle-free lending processes that do not require lengthy application forms or paper documentation.

The fast-growing lending company currently provides loans to Nigerians with maturities ranging from 30–360 days and an average value of NGN30,000 — NGN1,000,000 ($70 — $2400). Since its inception, QuickCheck has issued loans totaling more than $50 million, approving over 1.7 million loans out of 5.1 million applications. With big plans for the future, QuickCheck constantly develops and invests in operational capacity, a loyal customer experience, and cutting-edge technology.

However, to maintain sustainability and achieve new levels of growth, the QuickCheck team, led by Fabiano Di Tomaso, must ensure that users are onboarded safely and with as little friction as possible.

Integrating With Identitypass

QuickCheck is a one-stop platform that aims to provide financial services to underserved consumers and African micro-entrepreneurs, going beyond what neobanks are doing.

For Fabiano and his team, the key to achieving its vision was to leverage a faster and more reliable identity verification process for QuickCheck’s credit-led model. The company wanted to ensure that the data points were reliable and simple to collect behind the scenes without sacrificing efficiency or speed in its decision-making process.

A solution came with Identitypass’s data verification endpoints, which QuickCheck currently deploys as a major driver for a seamless and safe onboarding process.

Here’s the Journey so far.

Loan decisions typically take weeks to finalize. This is due to the security measures to ensure that loan applicants are who they say they are and to protect against fraud. However, with Identitypass, QuickCheck predicts borrowers’ behavior, onboards only real customers, and instantly evaluates loan applications by leveraging machine learning. Applicants receive loans within a few days and, if approved, funds within 5 minutes. The loans are made available through a bank account transfer, and lending decisions are made almost instantly.

QuickCheck is succeeding in a consumer segment where banks and microfinance institutions are still struggling, thanks to AI-powered technology. Customers get credit quickly and easily without paperwork, queues, or collateral. With a smartphone and the QuickCheck app, Nigerians can access digital financial services, bringing them closer to their personal and business goals.

About Identitypass

Identitypass offers authentic identity verification solutions for businesses to gain deeper insights about their customers using issued identifiers and our AI-powered biometric system; to seamlessly onboard customers in record time; while detecting and flagging down identity mismatches.

Are you ready to provide the most seamless onboarding experience for your customers? Sign up here to get started.

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