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Interswitch Partners Fintech Firms, Bank to Launch Lending Platform

 

Interswitch, an Africa-focused integrated digital payments and commerce company has launched the Interswitch Lending Services Platform.

The platform will resolves the ‘missing middle’ challenge by providing a holistic proprietary credit analysis, scoring & management technology which bank and non-bank credit providers can leverage to provide non-collaterized micro and nano-loans to individuals and SME customers through ATMs, mobile apps or the USSD channel to access loans.

According to the company, ”the collaborative platform which we are rolling out with 6 leading banks and 3 innovative non-bank credit institutions essentially achieves the goal of allowing previously under-served customer segments to meet their personal and small business needs, thereby accelerating growth in business activities within Nigeria’s resurgent economy.