Credit Direct’s embedded finance vision

Credit Direct, a leading Nigerian financial services company, announced a strategic pivot from lending to a comprehensive digital finance company with the launch of several innovative fintech products. At its “This is Credit Direct” product demo event in Lagos on 29 March, the company unveiled digital offerings targeting retail investments, payments for individuals and businesses, and a Buy Now, Pay Later solution for merchants and individuals.

The company, which has historically operated as a lender for 18 years, is now positioning itself as a digital-first financial technology company that provides financial access through multiple channels, including mobile and web app, USSD, API links for their Buy Now, Pay Later Solution on merchant sites, WhatsApp, and AI intelligence.
The new product lineup includes the Credit Direct Mobile App, an all-in-one platform where customers can pay, invest, and grow their finances with an interest-earning wallet that grows money daily with no restrictions on fund access. CLARA serves as an intelligent Credit, Lifestyle, and Revenue Assistant powered by AI that simplifies users’ financial lives. Credit Direct Checkout provides Nigeria’s first truly digital Buy Now, Pay Later platform designed for merchants and trusted by customers. Yield by Credit Direct offers an end-to-end digital wealth creation platform for individuals and businesses where money grows daily.

The product launch represents the culmination of a deliberate digital transformation strategy that began in 2022. In just three years, Credit Direct has increased its revenue from ₦1.6 million per hour to over ₦9 million per hour, while expanding its market share from 18% to 30% of Nigeria’s Consumer Lending Industry.

“Today isn’t just about launching products. It’s about telling a bigger story of transformation, intent, and market leadership,” said Chukwuma Nwanze, Managing Director and CEO of Credit Direct. “We are a digital-first, capital-efficient, and purpose-driven finance company. We’ve built one of the most efficient financial platforms in the country, delivering over ₦90 billion in cumulative profits, achieving a return on equity above 80%, and maintaining one of the lowest NPL ratios in the industry. All this without a primary capital raise in over fifteen years.”

The company’s digital transformation has reduced loan processing time from an average of 8 hours to under 5 minutes, while staff productivity has doubled and employee net promoter scores have increased from 32 to 75.

“Credit Direct Mobile App is not just another app. It was built with everyone’s real financial lifestyle in mind. Just by keeping money in it, you earn daily interest, no minimums, no lock-ins, no extra steps,” said Nifemi Oluboyede, Chief Product Officer at Credit Direct. “That means even when you are not investing yet, your money is already working for you quietly, consistently, in the background. We’re building a platform you’ll want to open every time there’s a money decision to be made, whether it’s sending, investing, or getting credit.”

The expansion focuses on addressing financial inclusion challenges in Nigeria by simplifying access to formal financial services. The company’s omnichannel approach aims to eliminate traditional banking barriers, particularly for underserved individuals and micro, small, and medium enterprises.

“Behind our digital transformation is a people transformation” noted Edwina Olanipekun, Chief People Officer at Credit Direct. We believe that technology is only as powerful as the people who drive it. Our growth, efficiency, and success are not just about leveraging cutting-edge innovations, it’s about having the right minds, the right culture, and the right environment to bring these innovations to life. We’ve cultivated a workforce that embraces change, is equipped with digital tools, and harnesses data-driven insights to serve our customers more effectively. This cultural shift has been fundamental to our success and will continue to propel our growth as we expand across Africa. Technology enables us, but our people make it possible.”

The product launch comes amid intensifying competition in Nigeria’s fintech space, where startups and traditional banks are racing to capture market share in a country
with over 200 million people and relatively low banking penetration. The company has navigated three major economic shocks: the 2008 global financial crisis, the 2016 recession, and the 2020 pandemic-induced recession, while remaining profitable and resilient.

“We didn’t just build tech; we rewired the way we operate. We digitized our operations, embedded finance into ecosystems, payrolls, supply chains, and merchant platforms, deployed AI in our contact center, built internal engines for fraud detection, credit decisioning, and automated collections,” added Nwanze. “While others pursued growth at any cost, we built with intention. While inflation soared, we raised the bar on efficiency. While others struggled to sustain profitability, we’ve posted profits for 17 years straight.”

Visit https://www.creditdirect.ng/ for more information.