Andray Finance Deploys SaaS Innovation to Erase Predatory Lending

In a direct challenge to the wave of digital loan sharks that have plagued the Nigerian financial sector, Andray Finance has launched a pioneering SaaS (Software as a Service) platform designed

to restore dignity to the lending process.
By leveraging proprietary technology rather than aggressive recovery tactics, the fintech firm is offering a safe harbor for Nigeria’s unbanked and underserved populations.

The rise of digital lending in Nigeria has been a double-edged sword. While access to credit has increased, it has often come with exorbitant interest rates and unethical shaming practices—where defaulters are harassed or defamed to their contact lists.

Andray Finance is stepping into this volatile market with a unique model that prioritizes data science over defamation.

At the heart of Andray Finance’s operation, headquartered at Cardinal Place, 13 Ayo Babatunde Crescent,Oniru, Lekki – Lagos, Nigeria – is a robust SaaS platform that fundamentally changes how risk is assessed.

Unlike traditional lenders that rely on collateral or rigid salary history—barriers that exclude millions of informal workers—Andray Finance utilizes an AI-driven engine to analyze alternative data points.

“We realized that the risk associated with the unbanked isn’t that they can’t pay, but that traditional banks can’t understand them. Our SaaS model allows us to build a dynamic financial identity for a roadside mechanic or a market trader based on their transaction flows and behavioral patterns. This allows us to offer fair, personalized loans without resorting to the predatory pricing models that trap people in cycles of debt.” Wealth Jumbo, Operational Manager, Andray Finance, said.

The platform is specifically engineered for the under-segmented parts of society—the invisible middle class and micro-entrepreneurs who drive Nigeria’s informal economy.

By automating the credit lifecycle through their SaaS infrastructure, Andray Finance reduces the operational cost of lending. These savings are passed on to the borrower, making credit affordable for those who need it most.

Furthermore, the model includes a financial Dignity protocol. The platform ensures strict data privacy compliance, guaranteeing that a borrower’s financial struggles remain private, contrasting sharply with the “shame” tactics prevalent in the industry.

Andray Finance views its role not just as a lender, but as a builder of credit history. By bringing the unbanked onto their SaaS platform, users begin to generate a verifiable financial footprint.

Over time, this data can be used to unlock access to larger financial products, effectively integrating the underserved into the formal economy.

“Our goal is to prove that you can lend to the underserved ethically and profitably. With Andray Finance, we are telling every Nigerian that their financial potential is respected,” Jumbo added.