Why Lend to Civil Service Workers?
Market & Stability
1,200,000+ federal and state workers (120,000+ in Lagos)
Standardized, transparent income structure
Guaranteed monthly income with 25-35% 2023 salary increase
Low Risk & High Demand
Direct salary deductions via IPPIS ensuring repayment
Lowest default rates in lending sector
High demand for housing, education & personal loans
Underserved market despite strong fundamentals
Why Lenders Choose Creditty
Automated Salary Deductions
Direct integration with IPPIS and state payment systems ensures repayments are collected before salaries hit employees’ accounts
Holistic Risk Assessment
Instant access to salary histories, existing loans, and cross-platform defaulter checks
90% Default Rate Reduction
Our automated repayment system has helped partners slash default rates from industry average of 12% to just 1.2%
End-to-End Automation
From application to disbursement, every process is streamlined for maximum efficiency
How it works
1.
Streamlined applications allow civil servants to apply for loans with automated document collection and instant eligibility checks.
2.
Robust KYC verifies salary history, checks defaulter databases, and assesses risk instantly.
3.
Once verified, efficient loan approval kicks in using automated workflows, digital signing, and quick decision-making to speed up the process.
4.
Flexible disbursement ensures funds are sent seamlessly through manual or automated options, with real-time tracking and notifications.
5.
Guaranteed repayments ensure automated deductions and real-time repayment monitoring.
Frequently Asked Questions
- How quickly can we get started?
Implementation typically takes 1-2 weeks, including IPPIS integration and team training.
- What if borrowers change their salary accounts?
Our system automatically tracks account changes through our banking partners and updates deduction instructions accordingly.
- Do you have regulatory approval?
Yes, Creditty is fully licensed by the Central Bank of Nigeria and compliant with all relevant lending regulations.
- Can we lend to both federal and state workers?
Yes, our platform supports lending to both federal civil servants through IPPIS and state workers through their respective payment systems.
- What happens if a salary payment fails?
Our system automatically retries deductions and notifies both you and the borrower, with configurable follow-up actions.
- Can we customize the workflow to match our processes?
Absolutely. Creditty is built to be flexible and can be configured to match your specific approval workflows and risk criteria.