e-Barcs Microfinance Bank Limited has witnessed a tremendous growth—through its strategic adoption of Recova.
Recova is a fully automated 360 lending automation solution powered by Qore – the leading Fintech Infrastructure and Banking-as-a-Service provider.
Previously, the bank relied on a manual lending process, which significantly increased their turnaround time and reduced operational efficiency.
e-Barcs MFB partnered with Qore to adopt Recova with the goal of streamlining and scaling their lending operations.
In the robust lending landscape within the financial sector in Africa, e-Barcs’ main goal while adopting Recova was to improve their loan disbursement, reduce risks, and expand access to credit to more customers.
Between January 2024 and July 2025, e-Barcs MFB recorded a remarkable 49 percent increase in loans disbursed and doubled their lending volume.
This growth reflects not only increased demand but also the bank’s enhanced capacity to meet that demand efficiently and responsibly. This growth is not just a number—it shows the power of digital innovation in financial services.
“We have now completely automated our credit appraisal system, which has taken off manual processes resulting in a stronger internal credit control system for our bank,” says Abayomi Makinde, Head of Risk at e-Barcs Microfinance Bank.
Recova has delivered on all goals the bank sought to achieve through its unique features. Through these features, e-Barcs now manages risk more effectively, and disburses credits speedily to customers. One of the functions of the Recova solution is to streamline credit operations, reduce manual effort, eliminate errors, and reduce operational & amp; credit risks.
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Speaking for Qore, Chidinma Obi-Ezike, Head of Lending Automation Business at Qore, said, “Recova was built to enable institutions to improve their lending processes and enhance their growth. The solution is about bringing intelligence and automation to all stages of your credit operations.
“e-Barcs MFB is a testament to the power of adopting technology to improve your service offerings and give your customers only the best service & quot; Having nine branches across Nigeria, e-Barcs MFB continues to scale, and its partnership with Recova stands as a model for how technology can drive inclusive financial growth. We are ready to serve all financial institutions, ready to eliminate brick walls in their lending operations”.
