Nigerian fintech trailblazer, VeendHQ, has launched Vida AI, an artificial intelligence-powered credit decisioning platform set to redefine how credit is assessed, granted, and managed across the continent of Africa.
VeendHQ, which announced the technology in Lagos, said that Vida AI was designed to address the longstanding challenge of limited credit access for millions of Africans, particularly those excluded by traditional financial systems.
It further said that with an ecosystem-aware architecture, the platform seamlessly serves lenders, merchants, and consumers—unlocking smarter, faster, and fairer credit decisions powered by cutting-edge machine learning and alternative data sources.
Olufemi Olanipekun, CEO and co-founder of VeendHQ, said: “At its core, Vida AI is a transformative tool. It analyzes behavioral and transactional data to deliver real-time insights into borrower risk, helping financial institutions reduce default rates and improve loan performance. For lenders, it automates loan origination, offers instant credit decisions, and streamlines collections and recovery management—enabling them to serve a broader market without sacrificing risk control.”
According to him, “Vida AI isn’t just built for banks. For merchants, it introduces frictionless Buy Now, Pay Later (BNPL) functionality at the point of sale, allowing customers to complete purchases with ease. The result is higher conversions, reduced cart abandonment, and stronger customer loyalty—especially among digitally savvy but underbanked shoppers.
“On the consumer side, VeendHQ has integrated Vida AI into MyCreditProfile.me, a pioneering digital tool that allows users to access and understand their credit profiles. By connecting to licensed credit bureau data, the platform empowers individuals with transparency, helping them access legitimate credit options and build trust in the system.”
Since its founding in 2021 and backing by Techstars, VeendHQ has made financial inclusion its north star. The launch of Vida AI marks a significant milestone in that journey.
“Vida AI is more than a credit engine—it’s a financial inclusion catalyst,” said Olanipekun, adding that “By integrating local market understanding with advanced AI, we’re unlocking access to credit for millions, enabling growth for individuals, businesses, and economies alike.”
