CreditChek, a leading African credit assessment provider, has partnered with CredPal to enhance creditworthiness and identity verification for CredPal’s new credit card business. This collaboration aims to make credit more accessible, transparent, and secure across Africa.
Since launching in 2022, CreditChek has processed over 300,000 verifications and supported $30 million in loan approvals. Through its new product, Spectrum, the company is also tackling fraud by enabling financial institutions to share data on chronic debtors and update credit bureaus automatically.
With Nigeria’s credit card penetration at just 1.6%, this partnership is set to drive adoption and improve access to financial services. CreditChek’s broader vision includes creating a cross-border credit assessment infrastructure, ensuring African immigrants can access financial services globally.
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