Mida Technologies Partners Bank to Enhance Debtor Management

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Mida Technologies, a financial technology firm, has partnered with a Tier-1 Nigerian bank to improve debtor management across the country. The partnership, which commenced in February 2025, aims to deploy Mida’s flagship product, MidaOmni, to enhance credit portfolio segmentation and streamline loan recovery.

According to Mayowa Anibaba, Co-founder and Chief Executive Officer of Mida Technologies, the deal is a milestone for Nigeria’s financial ecosystem. “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 said.

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MidaOmni allows financial institutions to group credit portfolios into clusters based on parameters such as delinquency, risk, and customer behavior. Adija Uzodinma, Chief Operations Officer at Mida Technologies, explained that “With MidaOmni, financial institutions can categorize their credit portfolios into predetermined clusters and designate customized tasks to each segment based on criteria such as risk, delinquency, and customer behavior, among others.

The company offers a range of products, including MidaCollect, Mida Recovery, MidaX, Debt Buying, and Tyche, a cloud-based core banking system. Oke Egbi, Co-founder and Chief Revenue Officer, stated that Mida’s innovations address key pain points in Nigeria’s credit space. “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,” he said.

Mida Technologies manages a debt portfolio exceeding $6 million and serves a wide range of financial institutions. The partnership with the bank is expected to boost financial inclusion and foster a more efficient credit ecosystem in Africa.