Does Oystr give loans?

Does Oystr give loans?

Short answer, No. And the long answer, we provide lenders with data to provide loans to people.


Oystr Finance: Empowering Financial Inclusion in Africa

Financial inclusion remains a major challenge in Africa, with millions lacking access to traditional banking services. This lack of access hinders economic growth and limits opportunities for individuals and businesses. Oystr Finance is a fintech company tackling this challenge head-on by leveraging alternative financial data to bridge the gap.

Building a Bridge with Alternative Data

Oystr Finance focuses on the underserved population in Africa. They utilize alternative data sources like mobile money transactions and utility bills. Traditional credit scoring relies heavily on formal banking history, which many in Africa lack. Oystr's approach allows lenders to assess creditworthiness more accurately, enabling them to serve this previously excluded population.

FrendlyLendr: A Powerful Tool for Peer to Peer Lending

One of Oystr Finance's product is Frendlylendr. This platform acts as a lending tool, allowing people to manage and give out loans to friends, colleagues and family and safely ensuring repayment of such loans. This streamlined process reduces costs for lenders and leading to faster loan approvals for borrowers.

Oystr's Diverse Solutions

Beyond FrendlyLendr, Oystr Finance offers a suite of tools designed to empower financial institutions:

  • Oystr TH: This platform empowers businesses to build, launch, and manage loan products specifically tailored to the unbanked and underbanked population.

  • Oystr Credit: Designed for existing businesses, this solution allows them to seamlessly integrate micro-credit services into their products without worrying about liquidity or compliance.

Recognition and Impact

Led by the CEO, Ifedolapo Lawal, Oystr Finance's innovative approach has garnered recognition within the industry. They've been featured in publications like Seedstars and Pitchbook, and participated in programs like the Cardano Catalyst Acceleration Program. More importantly, their work is directly impacting lives. By facilitating access to credit, Oystr Finance empowers individuals to grow businesses, invest in education, and improve their overall well-being.

The Future of Financial Inclusion

Financial inclusion is critical for economic development in Africa. By leveraging technology and alternative data, Oystr Finance is paving the way for a more inclusive financial system. Their innovative solutions hold the potential to unlock vast economic opportunities for millions across the continent. As Oystr Finance continues to grow, we can expect to see even more progress towards a financially empowered Africa.