Africa: Zeeh Africa Introduces Game-Changing Loan Recovery Solution with GSI Technology

Zeeh Africa, a leading Open Banking fintech company, has unveiled its groundbreaking loan recovery solution powered by Global Standing Instruction (GSI) technology, marking a significant milestone in the financial industry.

Unlike conventional recovery methods, Zeeh’s innovative system offers a direct and automated approach to fund recollection, providing lenders with a seamless solution to address recovery challenges effectively.

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

David Adeleke, co-founder/CEO at Zeeh Africa, underscores the significance of the GSI-powered solution, describing it as a cutting-edge system that combines the efficiency of Direct Debit with GSI functionality. This advanced tool goes beyond traditional recovery approaches, simplifying the process and reducing non-performing loan rates.

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 more effective recovery.

Adeleke highlights some notable features of Zeeh Africa’s GSI solution:

• Comprehensive Control: Businesses can initiate, pause, or halt ongoing debits as needed, providing them with full control over the recovery process.
• Transparent Transactions: Users gain insights into direct debits, transaction details, and manual payments effortlessly, ensuring transparency at every step.
• Flexible Scheduling: Payments can be scheduled, deleted, or simulated according to business requirements, offering versatility and convenience.
• Automation for Enhanced Efficiency and Accuracy: The integration of GSI and Direct Debit introduces automation, expediting fund recollection and minimizing errors.
• Effortless User Engagement: Users can easily resend consent and mandate links, ensuring seamless engagement throughout the process.

Zeeh Africa’s GSI technology not only revolutionizes loan recovery but also offers a solution for the collection of recurring payments, demonstrating the company’s commitment to leveraging Open Banking capabilities for broader financial services.

With its innovative approach and emphasis on borrower consent, linked accounts, and automated recovery, Zeeh Africa is set to reshape the future of loan recovery and digital lending worldwide.