Executive Summary

The housing and mortgage sector relies heavily on accurate data and insights to make informed decisions, mitigate risks, and improve customer experiences. The entire housing and mortgage value chain is a highly competitive market characterised by macroeconomic events, evolving customer preferences, regulatory requirements, and market dynamics. To stay ahead of the curve, the stakeholders must harness the power of data management and analytics to gain insights into offtakers and buyers’ behaviour and preferences, demand and location preference heatmaps, assess credit risk more accurately, and tailor loan products to meet diverse customer needs. Goloka, an advanced artificial intelligence platform, offers comprehensive solutions for data collection, data warehousing, and data analysis, empowering organisations in the housing and mortgage sector to harness the power of data-driven insights.

Context and Challenge

The collaboration between a prominent mortgage bank and a leading real estate developer seeks to extend mortgage accessibility to young professionals across diverse sectors including Civil Service, Healthcare, Security and Defense, Oil and Gas, Technology and Telecommunications, Banking and Finance, Shipping, Blockchain, and Energy. However, a critical challenge surfaces: the absence of actionable market insights. The mortgage bank grapples with comprehending market demand, location preferences, barriers to homeownership, and raising awareness among potential offtakers. This gap poses a significant barrier to effective targeting and has the potential to impede successful market penetration efforts.

Goloka: The Solution

To address the challenge of understanding the housing market dynamics and improving home ownership in Nigeria, the mortgage bank and its real estate developer partner revolutionized their approach by harnessing Goloka's AI-driven data management capabilities.

Goloka's robust platform facilitates the seamless deployment of targeted campaigns across sectors of interest such as Oil and Gas, Technology and Telecommunications, Banking and Finance, Shipping, Blockchain, and Energy. Leveraging Goloka's AI-powered survey generation tools, they tailor questionnaires to capture precise data points aligned with campaign objectives.

One of Goloka's standout features lies in its integrated wallet system and payment functionalities. Through Goloka's organisational wallet, the bank and its partner incentivize agent participation, fostering a culture of empowerment and job creation by disbursing payments to each agent’s wallet upon submission and validation of each submission.

Agents, equipped with Goloka's mobile application, venture into communities to collect diverse datasets encompassing offtakers’ demographic information such as income level, income sources, location and location preference, employment sector, employment status, housing preference, eligibility information etc. and data points to understand the barriers to homeownership.

Goloka's competitive advantage is evident in its centralised, cloud-based data warehouse. As a secure repository for collected datasets, Goloka facilitated seamless storage and access during the data collection phase, eliminating the inefficiencies of traditional data management systems.

The bank could access real-time analysis and insights through Goloka's AI-powered analytics engine. This capability empowered informed decision-making and enhanced market readiness. Goloka guided the bank's strategic data utilisation and decision-making with unparalleled precision by discovering complex patterns and trends, providing a significant competitive edge in the dynamic housing market.

The implementation of Goloka in the housing and mortgage sector yielded profound outcomes:

Streamlined Data Management and Operational Efficiency: Goloka's automated data collection and data warehousing architecture streamlined data utilisation and research workflows, reducing manual effort and optimising data quality. The mortgage bank and real estate developer could allocate resources more efficiently, streamline operations, and focus on value-adding activities.

Improved Decision-Making: Goloka's real-time analysis and insights empowered decision-makers to make informed and data-driven choices. By quickly identifying market trends, demand shifts, and emerging opportunities, stakeholders were able to adapt strategies swiftly, optimising resource allocation and maximising returns.

Targeted Engagement: Goloka facilitated targeted engagement with potential offtakers. By understanding their preferences, demographics, and location-specific needs, the mortgage bank and real estate developer could tailor their offerings more effectively, enhancing customer satisfaction and loyalty.

Regulatory Compliance: Goloka's robust data management features helped ensure regulatory compliance by maintaining data integrity, security, and privacy. By adhering to industry standards and regulations, the mortgage bank and real estate developer mitigated legal risks and safeguarded sensitive information, enhancing trust and credibility among stakeholders.