Mida Technologies, a financial technology firm, announced on Tuesday that it has partnered with a Tier-1 Nigerian bank to enhance debtor management nationwide.
According to the statement, the collaboration leverages Mida’s AI-powered debt recovery systems, aiming to improve efficiency and outcomes in debt collection across the country.
The Co-founder and Chief Executive Officer of Mida, Mayowa Anibaba, described the partnership as a significant step forward for Nigeria’s financial sector, adding “As Mida, we are excited to be entering into this partnership with one of Nigeria’s leading banks. We look forward to moving debtor management into its next phase in Nigeria, adding value for lenders and customers alike throughout the financial system.”
He noted that MidaOmni empowers financial institutions to organize credit portfolios into distinct clusters using criteria like delinquency status, risk profile, and customer behaviour. This targeted segmentation allows for customized task allocation and streamlined performance tracking across portfolios.
Speaking on the solution’s capabilities, the firm’s Chief Operations Officer, Adija Uzodinma, said, “With MidaOmni, financial institutions can categorise their credit portfolios into predetermined clusters and designate customised tasks to each segment based on criteria such as risk, delinquency and customer behaviour, among others.”
Mida Technologies also highlighted its broader product suite beyond MidaOmni, including MidaCollect—a solution designed to deliver smart, digital collection strategies tailored to the unique needs of lenders’ portfolios.
Other offerings include Mida Recovery, which delivers both online and on-field solutions for recovering non-performing loans and write-offs; MidaX, a digital skip-tracing tool for locating hard-to-find defaulters; Debt Buying services; and Tyche, a cloud-based core banking system designed to streamline financial operations.
Meanwhile, Mida Technologies Co-founder and Chief Revenue Officer, Oke Egbi, stated that Mida’s innovations are addressing crucial pain points in Nigeria’s credit space, stating, “We believe that better repayment performance builds trust for creditors while a dynamic and ethical approach increases repayment rates for borrowers. Our solution ensures both happen.”
