The mobile and web apps from Lendsqr have location requirements turned on by default. This geo-restriction feature serves two principal purposes for lenders managing their digital lending platforms.
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Why Lendsqr uses location settings by default
Legal compliance and operational reach
Location settings allow lenders to restrict the reach and usage of their apps to countries where they currently have legal rights to operate. This ensures compliance with local financial regulations and licensing requirements.
Risk-based user management
Lenders can bar users from specific locations in line with their risk assessment criteria. This geo-blocking capability helps maintain portfolio quality and reduces exposure to high-risk geographical areas.
Benefits of configuring location settings
Enhanced regulatory compliance
By setting appropriate geographical restrictions, lenders can ensure their lending operations comply with local laws and avoid unauthorized lending in restricted jurisdictions.
Improved risk management
Location-based restrictions help lenders implement comprehensive risk strategies by excluding users from areas with higher default rates or regulatory complications.
Streamlined operations
Geo-restrictions allow lenders to focus their resources and customer support on approved markets, improving operational efficiency and user experience.
How to configure your location settings
To customize your geographical restrictions and manage user access by location, follow these simple steps:
Log into the Lendsqr Admin console at app.lendsqr.com and click the Settings icon. Select System Configurations from the menu, then choose Location and Geo Settings to access your geographical restriction controls.
This configuration panel allows you to set country-specific access rules and manage location-based user restrictions according to your business needs.
Optimize your lending platform today by configuring location settings that align with your legal requirements and risk management strategy.
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