Sofri (powered by Links Microfinance Bank) has launched a major transformation drive aimed at reshaping access to credit and empowering Nigerian businesses.
At a recent media parley in Lagos, the banking arm revamped its mobile app, introduced corporate internet banking, and deployed advanced data tools.
Sofri’s Managing Director, Paul Adebayo, said the company’s renewed strategy combines technology upgrades with alternative data analytics and AI-driven credit scoring to solve one of Nigeria’s most persistent financial problems, which is a lack of access to credit caused by poor data infrastructure.
“The credit industry in Nigeria suffers from limited and low-quality data, which hampers lenders’ ability to assess risk and scale lending products.
“That’s why we are using Artificial Intelligence and alternative data to bridge the gaps,” Adebayo said.
The firm’s new digital tools include a redesigned mobile app with real-time alerts, faster onboarding, and seamless loan applications, as well as the rollout of Corporate Internet Banking to serve SMEs and institutional clients. The platform also includes a Terminal Management System for managing POS terminals, to improve uptime and transaction efficiency for merchants.
Adebayo said with the revamped app, Sofri (powered by Links Microfinance ) is now using machine learning algorithms that consider a range of non-traditional data points—phone usage patterns, location, education level, and even social media influence to assess borrowers.
“If you have 10,000 Instagram followers and I have 2,000, your likelihood of default may be lower. Your social capital is an indicator of trust. These are the types of signals we’re building into our models,” Adebayo explained.
He added that the innovations allow Sofri to provide loans as small as N2,000 to underserved individuals without formal credit histories, to encourage financial inclusion.
Adebayo also said the company is embracing the Central Bank’s Global Standing Instruction policy to improve loan recovery rates and reduce risk.
The GSI enables lenders to automatically recover debts from any account linked to a borrower’s Bank Verification Number, even if the borrower changes banks.
“With GSI and our data-led approach, we can lend more confidently. We’re not just digitising finance, we’re democratising it,” Adebayo said.
With a rebrand to SofriTrust MFB on the horizon, Adebayo said the goal is to build a digital-first bank that serves the real economy with intelligence, inclusion, and innovation.
Sofri’s General Manager, Frank Ayala, introduced the new CIB platform as a critical tool for businesses seeking efficient financial operations.
“The new platform meets the diverse needs of business customers, with enhanced functionality and advanced security to protect sensitive data,” he noted.
