The Lendsqr admin console makes use of a tiering system and this is depicted as stars on users’ profiles. Tier management allows you to classify your users into various categories called “Tiers” based on certain conditions that you can specify. Each tier gives your app users specific rights and limits.
You can create tiers with detailed requirements that will drive how your user’s tier is being managed. In addition, you can assign a tier to a user and upgrade or downgrade a user’s tier from the admin console.
Read further: How to use Tiers to manage customer KYC
The tiering system gives lenders more control over the platform. It is also a good security feature as it ensures that only the users who have met your specified KYC requirement get higher rights.
You can define the rights and limits of each specific tier directly on the admin console. For example, tier-one users can have a withdrawal limit of N10,000 while tier-two users can have a limit of N50,000.
💡 Use Case: A new borrower with minimal KYC documents might be placed in Tier 1, with limited access. Once they upload a government-issued ID and complete two successful repayments, they can automatically or manually be upgraded to Tier 2.
Further reading: Why Oradian users still need a dedicated loan management system