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Kredete has unveiled its lending platform to deepen access to formal credit, financial education and innovative financial solutions.
The launch event was hosted by industry players and entrepreneurs, who convened to discuss the future of lending in Africa and Kredete’s commitment to revolutionising Nigeria’s financial sector.
The firm said it intends to achieve this by leveraging AI-driven technology and strategic partnerships with financial institutions to create a complete infrastructure that enables it to lend efficiently while empowering users to access credit products suited to their needs.
With AI, the pre-approval odds for users enhance by providing tailored loan options based on their credit history and financial profile. For lenders, it becomes easier to assess risks, reduce non-performing loans and make informed lending decisions.
Also passionate about strengthening financial literacy, the brand will achieve this by offering free credit scores, reports, and monitoring tools to help users understand their credit standing and make informed financial decisions.
Founder/CEO, Kredete, Adeola Adedewe, said the business was founded out of personal experience. Trying to secure a loan to start a business, the difficulties experienced inspired him.
“We embarked on a mission to bridge Nigeria’s $360B credit gap and foster financial inclusion for the 82 per cent of Nigerians who lack access to formal credit. We are deeply motivated by the importance of access to credit, from empowering SMEs to spurring economic growth.
“While analysing the digital lending outlook in Nigeria, we identified that one of the limitations to accessing lending opportunities is the difficulty in determining creditworthiness.
Therefore, we have included free credit scores, reports, and monitoring to empower users to obtain credit products that meet their specific needs while equipping lenders with insights to make effective lending decisions.
This way, we will modernise Nigeria’s lending industry and set new standards for loan origination, risk assessment, and approval processes,” he said.
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