In the world of digital lending, data security is not optional — it’s a must. At Lendsqr, we understand how important it is to keep your customers’ sensitive information safe and to protect your business from fraud and cyber threats.
That’s why we have implemented industry-leading data protection measures to ensure your digital lending operations remain secure, compliant, and trustworthy.
Your customers’ data Is protected with the highest standards
Whenever your customers share personal or financial details during the loan application process, you’re entrusted with highly sensitive information. At Lendsqr, we go the extra mile to ensure this data is treated with the highest level of care and confidentiality.
To achieve this, we have implemented several key measures:
- We comply with international data protection regulations, including the General Data Protection Regulation (GDPR) and Nigeria’s Nigeria Data Protection Regulation (NDPR).
- All data is encrypted, both in transit and at rest, using bank-grade encryption protocols.
- Access to customer data is restricted, with role-based permissions ensuring that only authorized personnel can view or manage it.
- We conduct ongoing vulnerability testing to detect and resolve any potential risks in our system before they become threats.
As a result, sensitive information like your customers’ BVNs, phone numbers, bank account details, and credit histories is securely stored and protected from unauthorized access or data leaks.
Read further: A borrower’s right to data privacy is not negotiable
Two-Factor Authentication (2FA) for Enhanced Business Account Security
Beyond customer data protection, we also help secure your Lendsqr Admin Console with two-factor authentication (2FA), an additional security layer that drastically reduces the risk of account compromise.
2FA works by requiring two types of verification before access is granted:
- Something you know, such as your password
- Something you have, like a one-time code sent to your phone or email
This dual-verification process is highly effective in stopping:
- Account hijacking
- Unauthorized logins
- Insider threats
- Phishing attacks
🔐 Example: If an attacker obtains your password but doesn’t have access to your one-time 2FA code, they’ll be blocked from logging into your account — keeping your platform secure.