Credit Direct Unveils New Fintech Products for Full Digital Transition

A member of the First City Monument Bank Group (FCMB Group), launched a new line of fintech products. With the launch of a range of fintech products designed to revolutionize wealth creation, payments, and credit availability, Credit Direct has said that it has redefined itself as a completely digital financial powerhouse.

On March 30, 2025, Lagos Leading Nigerian financial services provider Credit Direct announced a strategy shift from lending to a full-service digital finance provider with the introduction of a number of cutting-edge fintech products. The company launched digital products aimed at retail investments, payments for people and companies, and a Buy Now, Pay Later solution for merchants and consumers on March 29 during its “This is Credit Direct” product demo event in Lagos.

After 18 years of operation as a lender, the company is now establishing itself as a digital-first financial technology company that offers financial access via a variety of channels, such as web and mobile apps, USSD, API links for their Buy Now, Pay Later Solution on merchant websites, WhatsApp, and AI intelligence.

The new product line includes the Credit Direct Mobile App, a one-stop shop where users can pay, invest, and manage their money with a wallet that earns interest every day and has no access limits. CLARA is an AI-powered intelligent Credit, Lifestyle, and Revenue Assistant that makes consumers’ financial lives easier. Nigeria’s first fully digital Buy Now, Pay Later platform, created for retailers and trusted by consumers, is offered by Credit Direct Checkout. For both people and organizations, Yield by Credit Direct provides an end-to-end digital wealth building platform where money increases every day.  

The product launch is the result of a strategic approach to digital transformation that started in 2022. In just three years, Credit Direct has grown its market share from 18% to 30% of Nigeria’s consumer lending industry and raised its income from 1.6 million to over 9 million per hour.

“Today is about more than simply product launches. According to Chukwuma Nwanze, Managing Director and CEO of Credit Direct, “it’s about telling a bigger story of transformation, intent, and market leadership.” Our financial firm is purpose-driven, capital-efficient, and digitally first. With cumulative earnings of over ₦90 billion, a return on equity of over 80%, and one of the lowest non-performing loan percentages in the sector, we have established one of the most effective financial platforms in the nation. All of this has occurred more than fifteen years without a major capital increase.

Staff productivity has doubled and employee net promoter scores have risen from 32 to 75 because of the company’s digital transformation, which has also cut loan processing time from an average of 8 hours to less than 5 minutes. 

There is more to the Credit Direct Mobile App than meets the eye. It was constructed with consideration for each person’s actual financial situation. Nifemi Oluboyede, Chief Product Officer of Credit Direct, stated, “You earn daily interest just by keeping money in it, without any minimums, lock-ins, or extra steps.” This implies that your money is already working for you in the background, silently and steadily, even if you are not investing yet. Every time a financial choice has to be made, whether it be moving money, investing, or obtaining credit, you will want to access the platform we are developing.  

By making formal financial services easier to obtain, the expansion aims to alleviate Nigeria’s financial inclusion issues. The company’s omnichannel strategy is to remove the obstacles associated with traditional banking, especially for marginalized people and micro, small, and medium-sized businesses.

“A people transformation lies at the heart of our digital transformation,” said Edwina Olanipekun, Credit Direct’s chief people officer. Technology, in our opinion, is only as strong as the people who use it. It takes more than simply utilizing cutting-edge ideas to achieve our growth, efficiency, and success; it also takes having the right people, the appropriate culture, and the right environment to make these breakthroughs a reality. In order to better serve our clients, we have developed a workforce that welcomes change, is proficient with digital technologies, and uses data-driven insights. Our success has been largely attributed to this cultural change, which will further accelerate our development as we spread throughout Africa. We are made possible by our people, not by technology.  

“This implies that even if you haven’t made any investments yet, your money is already working for you in the background, quietly, and consistently. We’re creating a platform that you’ll want to open whenever you need to make a financial decision, whether it’s sending money, investing, or obtaining credit.”

The product launch coincides with heightened rivalry in Nigeria’s fintech sector, where conventional banks and startups are vying for market share in a nation of more than 200 million people with a low level of banking penetration. The business has managed to stay resilient and profitable despite three significant economic shocks: the global financial crisis of 2008, the recession of 2016, and the recession brought on by the 2020 pandemic.

“We rewired the way we work, not merely built tech. We used artificial intelligence (AI) in our contact centre, digitized our processes, integrated finance into ecosystems, payrolls, supply chains, and merchant platforms, and developed internal engines for automated collections, fraud detection, and credit decisioning,” Nwanze continued. “We created with purpose, whereas others sought development at any costs. We increased efficiency even as inflation skyrocketed. We have reported earnings for 17 years in a row, while others have had difficulty maintaining profitability. 

The event, which included interactive seminars, live product demonstrations, and thought-provoking panel discussions with industry experts, was attended by key stakeholders, media representatives, and industry leaders.

By incorporating credit into our partners’ supply chains and payment flows, Credit Direct Finance firm Limited, a top digital finance firm in Nigeria, is creating Africa’s top embedded finance industry and enabling both individuals and companies to achieve financial success. The company’s goal is to guarantee that everyone has access to financial solutions.