Digital Credit : ChamsAccess Inks Deal with First Access to Automate Micro Lenders 


First Access, New York-based financial technology (Fintech) company is partnering its Nigerian counterpart, ChamsAccess Limited, to deliver digitised and automated credit solutions to micro lenders.

First Acceess software platform allows micro lenders anywhere to digitise their entire lending process, and capable of replicating existing processes and accommodating a wide range of needs around origination, approval, monitoring and collection due to its flexibility.

First Access provides an easy way for traditional institutions to enter the digital world, driving faster growth and strong risk management practices.

Lenders can also build in their own analysis and scoring, reducing paperwork and customer acquisition time, as well as adding transparency to the risk management process.

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Under the terms, ChamsAccess, the local/implementation partner in Nigeria, will provide the necessary support for the software, while both partners help local institutions embed their loan products, policies, brand, and staff roles more directly into their accounts on the platform.

The Chief Executive Officer, ChamsAccess, Dumebi Obodo, explained that while combining quantitative and qualitative data from multiple sources, the platform provides additional visibility, stability and control for managers.

Dumebi Obodo, Chief Executive Officer, ChamsAccess

He expressed his excitement at the development, explaining that the unique and highly affordable software-as-a-service application is designed for extreme flexibility of data sources. It also enables micro lenders to incorporate nearly any source of customer data via API, or to collect it manually offline, which is especially relevant in the Nigerian market. Furthermore, he explained that the partnership was in line with the ChamsAccess’ mission of becoming the ‘go-to company’ for technology solutions that make life less complicated.

Also commenting, the Chief Executive Officer, First Access, Nicole Van Der Tuin, said the partnership is a mutually beneficial one, which would result in a profitable relationship, and positively impact the microfinance institutions and other lenders in today’s data-driven world.

She pointed out that ChamsAccess has a great local position to complement First Access’ decades of experience in micro-lending, adding that the partnership reflects the firm’s desire to collaborate with companies that share their vision of disruptive innovation and user-friendly tools to expand access to credit.