Kingsley Ibe
CEO
Creditchek
Creditchek provides a credit assessment and reporting infrastructure that enables financial institutions to verify customer identity, income, and credit history across Africa through its API and no-code platform. This technology addresses the challenge of high non-performing loans by offering reliable access to historical credit data, thereby improving credit risk models and enhancing financial service access for underserved populations.
- Data & Analytics
- Enterprise Software
- Financial Technology
- Software Only
Updated 23 months ago
Funding
Raised to date
$340KRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Funding rounds are not available yet.
Founders
Lionel Orishane
CTO
Product
Problem
Financial institutions in Africa face challenges in accurately assessing credit risk due to limited access to reliable customer data. This results in high non-performing loan rates and restricts financial access for underserved populations. Traditional methods of verifying identity, income, and credit history are often manual, time-consuming, and prone to fraud.
Solution
Creditchek offers a credit assessment and reporting infrastructure that enables financial institutions to verify customer identity, income, and credit history across Africa. Its API and no-code platform provide access to historical credit data from nationally accredited credit bureaus, enabling improved credit risk models and reduced fraud. By automating the analysis of consumer banking data, Creditchek delivers key insights on cash flow and creditworthiness, helping lenders make informed decisions and expand financial service access to previously underserved markets. The platform also facilitates secure data enrichment by allowing lenders to share customer lending activities with credit bureaus.
Target Audience
Creditchek primarily targets financial institutions, including microfinance institutions, savings and credit cooperatives, e-commerce businesses offering buy now, pay later options, and software engineers building financial applications, all operating in the African market.
Features
- API and no-code platform for easy integration with existing systems
- Access to historical credit data from multiple sources, including credit bureaus
- Automated bank statement parsing for efficient income verification
- Real-time identity verification to prevent fraud
- Credit insights, providing a comprehensive view of a customer's credit status
- Income insights, analyzing transaction data to determine appropriate financing options
- Spectrum, a secure infrastructure for lenders to share customer lending activities with credit bureaus
- Compliance with the Nigerian Data Protection Regulation (NDPR)