VeendHQ says its artificial intelligence-powered credit platform has recovered N69 million from a N172.5 million portfolio of loans that were more than 90 days overdue, as lenders across Nigeria grapple with rising default rates and mounting pressure on recovery performance.
The fintech said the result, achieved through its Vida AI system, reflects a 40 percent recovery rate—well above typical industry outcomes for similarly aged delinquent loan books, where recoveries are often minimal once loans cross the 90-day mark.
The result highlights a growing shift among lenders from focusing solely on loan origination and credit scoring to deploying technology for repayment monitoring, collections and recovery.
For banks, microfinance institutions and digital lenders grappling with rising non-performing loans, the challenge is increasingly centred on what happens after a loan is disbursed rather than how quickly it can be approved.
“Credit access is only one side of lending. The bigger challenge for many
This post was originally published on this site.
