Definition of Terms

Here are some common terms to take note of


Means helper in Latin. This is our API distribution service that gives lenders and fintechs outside the Lendsqr platform access to our key services via APIs

Bad actor

A bad actor is an informal term used to classify user's within the Lendsqr ecosystem that have committed fraud or defaulted on loans as such they have been blacklisted on the Karma engine.

Bank Verification Number

Bank Verification Number (BVN) is an 11 digit number that serves as a unique identifier for individuals. An individual's bank accounts are linked to this number.


In relation to loans, Decisioning is the process of determining if a user is eligible to borrow money from a lending company.

Lendsqr Ecosystem

This is Lendsqr’s growing list of borrowers (accumulated over time) which lending companies can tap into to know more about the past performances of these borrowers with other lenders. The Lendsqr ecosystem is accessible via the Ecosystem Lookup endpoint.


Karma is a database of blacklisted bad actors within the Nigerian Lending ecosystem. This platform is a blacklist engine managed by Lendsqr. You can validate your customers by running checks via the GET Karma endpoint.


Scoring or Credit scoring is a statistical analysis performed by lenders and financial institutions to determine the creditworthiness of a borrower.

Service account

Lendsqr service accounts are virtual accounts in which you can transfer funds directly from any Nigerian bank to pay for access to any of Lendsqr's paid services.