Consumer protection firm holds workshop on digital lending/borrowing
Consumertrics, a consumer protection platform offering guides on consumer goods and advisory services to consumer-facing private and public institutions, is organizing a workshop on Digital Lending and Borrowing.
According to the company, the aimed at promoting accountability in the relationship between financial technology firms providing soft loans and consumers.
The event, themed ‘Responsible Borrowing and Lending – Balancing Access and Consumer Protection in Nigeria Digital Economy’, will be taking place at the Tech Zone Hub, Gbagada, Lagos, on September 8, 2022.
At the workshop, a ‘Panel of Discussants’ will examine the challenges of financial capital and the emergence of the various digital lenders in the Nigerian credit market. The focus includes operations of digital lenders, challenges of loan recovery, customer default, and consumer protection.
Participants will include consumer protection agencies; Fintechs (digital lending platforms); bank credit administrators, legal professionals; data protection regulators; law enforcement agencies, and members of the media.
According to Muyiwa Ayojimi, Chief Executive Officer, Consumertrics, the workshop is the first of the advisory series by the firm.
“The Advisory Series is part of our advocacy for Consumer Governance in the financial marketplace. It is aimed at bringing both lenders and borrowers to properly understand their roles, expectations, limitations, and to see ways by which operators can adhere strictly to best practices in the consumer protection space.
“Therefore, we will be addressing the challenges affecting consumer/ loan provider relationships, with the aim of building mutual trust and understanding in the marketplace,” he said.
Ayojimi added that the forum will provide a basis for knowledge sharing among agencies and industry regulators, such as the FCCPC, LASCOPA, CBN; banks, NITDA, Fintec, consumer NGOs, among others.
