Lendsqr Onboarding Specification: Complete Guide for Lenders

Welcome to the ultimate guide to the onboarding system on the Lendsqr platform. This article breaks down exactly how organizations (lenders) register, how individual borrowers or savers complete their setups, and how admin users can create accounts offline.

Each flow outlines:

• Required steps
• Field definitions
• Validation rules
• Option sets
• Flow dependencies

The onboarding system is designed to ensure secure identity verification, regulatory compliance, and structured user activation across all lender organizations.

Onboarding Flows

The platform supports three onboarding flows:

1. Organization Onboarding

Used by lenders, banks, and financial institutions to create and activate their organization on the platform.

2. User Onboarding (Borrower/Saver)

Used by individual users to create accounts and complete KYC verification.

3. Admin User Creation (Offline)

Used by organization administrators to manually create user accounts.

Organization Onboarding

This process is used when a new lending business or enterprise signs up to use Lendsqr.

Step 1: Initialization

Purpose: To kick off registration and trigger identity verification.

Description: Initial organization registration.

Request Fields

Field	Required	Description
email	Yes	Organization admin email
password	Yes	Account password
name	Yes	Admin full name
phone_number	Yes	Admin phone number
rc_number	No	Company registration number
business_name	Yes	Registered business name
locale	Yes	Language/region code
meta.type	No	Organization type

Validation Rules

• Email must be unique
• Business name must be unique (case-insensitive)
• Password must meet strength requirements
• Phone number must be valid format
• Rate limit: 3 requests per 60 seconds

Step 2: OTP Verification

Purpose: To confirm the lender’s contact number is active and valid.

Request

Field	Required
otp	Yes

Rules

• OTP must be 6 digits
• Expires after configured TTL (15–30 mins)
• Max retry attempts enforced for safety

Step 3: Organization Details Configuration

Purpose: To finalize core operating language configurations for the setup.

Fields

• Operating Language: Required.

Step 4: Business Profile Setup

Purpose: Establishes the system identity and customer support channels for the brand.

Field	Rules
short_name	A unique 2–4 character label used for interface branding.
business_name	Must match legal entity profiles, max 75 chars
support_phone	Valid phone
support_email	Valid email
website_url	Optional, valid URL

Step 5: Address Details

Purpose: Captures the physical business location for regulatory transparency

Field	Rule
address	Required physical address.
address2	Optional suite/apartment details.
city	Legal city name.
state	Full name of the state
country	Formatted as a standard 3-letter country code

Step 6: KYC Details

Purpose: Records company identification metrics.

Field	Rule
rc_number	Legally recorded business identifier

---

Step 7: Completion & Account Provisioning

Purpose: Completes the setup wizard by choosing a pricing plan to officially launch the platform.

Request

Field	Required
plan_id	Yes

System Actions on Completion

• Create subscription
• Create admin user
• Initialize wallet
• Generate virtual account
• Setup organization settings
• Provision web app domain
• Trigger onboarding emails
• Record audit logs

User Onboarding (Borrower/Saver)

This is the process an everyday user goes through when signing up to borrow or save on a lender’s application. It operates sequentially—a user cannot skip a step and must provide valid data at each stage to progress.

Stage 1: Initialize Onboarding

Fields

Field	Required
phone_number	Yes
referral_code	No

Rules

• Rate limited (3 requests per minute)
• Device and location logged
• OTP sent to user

Stage 2: OTP Verification

Fields

• phone_number
• otp

Rules

• Validates the code to unlock access to the remaining password and setup phases.

Stage 3: Password Creation

Fields

• phone_number
• password

Rules

• Strong password required
• Session activated after success

Stage 4: BVN Verification

This step only applies to Nigeerian organizations

Fields

• BVN
• BVN phone number
• Date of birth

System Behavior

• Verify against national registry
• Auto-populate identity data
• Charge organization for verification

Stage 5: Email Capture

Fields

• Email address

Rules

• Must be valid and unique per organization

Stage 6: Photo Upload (KYC + Liveness)

Validation

• Valid image URL
• Liveness score required
• Passive or active mode supported

Stage 7: Bank Account Linking

• Fields Required: Account Number, Bank Name.
• Rules: Verifies existence through standard interbank lookup networks. Critical Rule: The name registered on the bank account must correspond with the name pulled from the BVN registry. If specified by the lender, a direct debit authorization will be initialized here.

Stage 8: Physical Address Details

• Fields Required: Street Address, City, State Identifier, Local Government Area (LGA) / Province Details, Nearest Landmark.
• Rules: Utilizes an either/or selection approach: users provide either an explicit regional ID number or standard text names, but not both simultaneously.

Stage 9: Security PIN Setup

• Fields Required: 4-Digit Transaction PIN.
• Rules: Validates security configurations (see PIN guidelines below). Once complete, the account is activated, basic loan tiers apply, and authorization tokens drop.

Stage 10: Custom Profile Questionnaire (Dynamic Form)

Purpose
Collect organization-specific custom data.

• Fields Required: Custom fields dependent on lender requirements (e.g., Occupation, Employment Status, Monthly Income).
• Rules: This step is fully dynamic and only triggers if enabled by the lender. The provided data updates custom profile attributes and can instantly recalculate user tiers.

3. Back-Office Admin User Creation (Offline Enrolment)

Lenders can manually onboard borrowers or perform bulk imports directly via their administrative dashboards.

• Information fields required: Full name details, Phone Number, Email, Date of Birth, Physical Address, and optional fields like ID cards, BVN registry targets, and disbursement bank parameters (depends on region requirements)
• Business Rules:
  • If identity metrics (BVN/Bank details) are specified, they run through the same verification steps as self-service users.
  • The account is initially generated in an unactivated state (activated = false).
  • An automated onboarding email is sent to the consumer containing secure system login details and a mobile download link, prompt-forcing them to select a unique transaction PIN when they first open the app.

4. Platform Data Validation Standards

To keep the platform clean and highly secure, every entry must pass the following strict criteria:

Target Parameter	Specific Formatting and Data Quality Standard
Passwords	Minimum 8 characters; must contain at least 1 uppercase letter, 1 lowercase letter, 1 number, and 1 unique symbol. Common sequencing patterns are entirely blocked.
Phone Numbers	Length must stay between 8 and 19 characters, aligning perfectly with universal international rules.
Transaction PINs	Must be exactly 4 digits. Sequentially ascending series (e.g., 1234), sequentially descending series (e.g., 4321), or repetitive numbers (e.g., 1111) are rejected.
Email Addresses	Standard RFC 5322 pattern matches apply; cannot be linked to any other profile under the same lender workspace.
Bank Accounts	Must be active and exist within the selected bank’s database, with names matching the customer’s legal records.

5. User Classification Tiers

As consumers move along the registration path, the platform assigns distinct verification rankings that influence loan limits and platform features:

• Tier 0 (Unverified): Account initiated but basic parameters are incomplete. Completely restricted from performing transactions.
• Tier 1 (Basic KYC): Confirmed Phone number and verified BVN registry details. Unlocks foundational micro-loan access privileges.
• Tier 2 (Enhanced KYC): Passed Tier 1 checks and added a confirmed home address profile. Grants access to medium credit limits.
• Tier 3 (Full KYC): Completed all requirements and uploaded official verification documents. Grants full platform capability with the highest available spending limits.
• VIP: Tailored premium profile configuration tier adjusted for high-net-worth accounts.