Developing markets have a reputation for being unavoidably high-risk for lenders. And sure, developing markets are associated with less stable employment which can undermine repayments but in reality, how much of the observed historical losses could be avoided by embracing local knowledge and implementing better collections? It turns out, quite a lot of it. And by better collections, mind you, I don't mean tougher collections. In fact, its almost the opposite. BFREE is a Nigerian fintech founded on a deep dissatisfaction with the available credit collection options which seemed to thrive on humiliating customers - so they set out to change the narrative by offering borrowers a clear path towards long-term financial stability through a combination of our self-servicing, messaging automation, contact centre, and machine learning solutions.I'm speaking to Moses Nmor, co-founder and Chief Product Officer of BFREE, to hear the full story.You can reach the team and learn more about their work at https://bfree.io/ or on LinkedIn at https://www.linkedin.com/company/bfree-global/ (you'll also find the team there, and as Moses says, they're very friendly)You can learn more about myself, Brendan le Grange, on my LinkedIn page (feel free to connect), my action-adventure novels are on Amazon, some versions even for free, and my work with ConfirmU and our gamified psychometric scores is at https://confirmu.com/ and on episode 24 of this very show https://www.howtolendmoneytostrangers.show/episodes/episode-24If you have any feedback, questions, or if you would like to participate in the show, please feel free to reach out to me via the contact page on this site.Regards, Brendan Hosted on Acast. See acast.com/privacy for more information.