Zeeh and LAPO Expand Credit Data Partnership in Nigeria

In Short

• Zeeh Africa is expanding its partnership with LAPO Microfinance Bank to widen access to formal credit for underserved Nigerian traders and small businesses.
• The focus is better credit assessment using both bank data and alternative data like transaction patterns and informal business records.
• Zeeh is also developing Athena, a WhatsApp-based lending product aimed at supporting women traders and entrepreneurs.

What Happened

Zeeh, a KYC and open banking infrastructure provider, said it has expanded its work with LAPO Microfinance Bank to help the bank lend to more people in Nigeria’s informal economy.

KYC means “know your customer”, it is the checks lenders use to confirm who a borrower is. Open banking is a secure way for a customer to allow a third party to access their financial data, similar to sharing read-only access so a lender can verify income and spending.

The partners say many traders and micro businesses earn consistently but lack the formal records that traditional lenders rely on. Under the expanded partnership, Zeeh will combine conventional financial information with alternative data, including transaction histories, mobile activity and informal business records. The goal is to give LAPO a broader view of a borrower’s ability to repay.

Zeeh CEO David Adeleke described the work as building infrastructure that helps lenders “see what’s already true” about small businesses and lend accordingly.

Separately, Zeeh is developing Athena, a WhatsApp-based lending product. WhatsApp-based lending means borrowers can apply and get updates inside WhatsApp, instead of needing a separate app or a branch visit.

Why It Matters

Nigeria’s financial exclusion rate has dropped, but EFInA data shows the remaining excluded group is increasingly made up of lower-income people. That is also the segment where MSMEs often struggle to access working capital.

If lenders can underwrite loans using a wider mix of verified data, more small businesses could qualify for formal credit. For microfinance banks, it can also reduce default risk by improving how borrowers are scored and monitored over time.