ZEEH AFRICA INTRODUCES INNOVATIVE GSI-POWERED SOLUTION TO REVOLUTIONIZE LOAN RECOVERY.

Zeeh Africa, a financial technology company specializing in Open Banking, has unveiled its loan recovery solution powered by Global Standing Instruction (GSI) technology.

This innovative system offers a direct and automated approach to fund recovery, providing lenders with a seamless solution to address recovery challenges.

The GSI technology addresses the issue of loan repayment for lenders in Nigeria and beyond, serving as a robust last-resort system. It enables connected lenders to directly debit accounts of loan defaulters in other banks.

David Adeleke, co-founder/CEO at Zeeh Africa, emphasized that the GSI-powered solution introduces an advanced system merging the efficiency of Direct Debit with GSI functionality, surpassing conventional recovery methods.

Borrowers initiate the process by granting consent through their Bank Verification Number (BVN) and linking all associated accounts, ensuring comprehensive access to relevant information for effective recovery.

Zeeh Africa’s solution includes features such as comprehensive control, transparent transactions, flexible scheduling, and automation for enhanced efficiency and accuracy.

The integration of GSI and Direct Debit introduces automation into the recovery process, expediting fund recollection and minimizing potential errors.

This combined system presents a pioneering solution for lenders and Buy Now Pay Later (BNPL) services, shaping the future of loan recovery for digital lenders worldwide.

Additionally, Zeeh Africa’s GSI technology can be utilized for the collection of recurring payments, showcasing its versatility within the company’s Open Banking capabilities.

Source: Techeconomy