Mida Technologies, a financial technology firm, has partnered with a Tier-1 Nigerian bank to enhance debtor management across the country.
In a statement on Tuesday, Mida Technologies noted that its partnership with the bank builds on its AI-powered debt recovery systems.
The firm noted that the bank, which serves over 30 million customers and employs more than 15,000 people, commenced the partnership in February 2025. The collaboration aims to deploy Mida’s flagship product, MidaOmni, to improve credit portfolio segmentation and streamline loan recovery.
Co-founder and Chief Executive Officer, Mayowa Anibaba, described the deal as a milestone for Nigeria’s financial ecosystem, stating, “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 added that MidaOmni allows financial institutions to group credit portfolios into clusters based on parameters such as delinquency, risk, and customer behaviour. This segmentation enables institutions to assign custom tasks and track performance efficiently.
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 listed its portfolio of products beyond MidaOmni, including MidaCollect, for smart digital collection strategies tailored to lenders’ portfolios.
Others included Mida Recovery, which provides online and on-field services for recovering non-performing loans and write-offs, and MidaX, a digital skip tracing tool for locating hard-to-find defaulters, Debt Buying and Tyche, a cloud-based core banking system for streamlined financial operations.
Further, Mida Technologies Co-founder and Chief Revenue Officer, Oke Egbi, added that Mida’s innovations are addressing key 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.”
Mida revealed that it manages a debt portfolio exceeding $6m and serves a wide range of financial institutions, including commercial banks, microfinance banks, and informal lenders and its partnerships as with the bank are vital to boosting financial inclusion and fostering a more efficient credit ecosystem in Africa.
