Seqela Technologies Expands Digital Lending Platform to Transform Ethiopia’s Credit Market
Seqela Technologies is advancing its digital lending ecosystem through the rollout of its HK LAMS platform, integrating advanced technologies and national data systems to streamline loan processing and enhance financial inclusion in Ethiopia.
The platform is fully integrated with Ethiopia’s national digital identity system Fayda, as well as land registries and government databases. This enables automated verification of customer identities and collateral, eliminating the need for repeated manual reviews.
HK LAMS leverages advanced technologies, including artificial intelligence, optical character recognition (OCR), and geographic information systems (GIS), to analyze documents, validate asset data, and assess loan collateral. It also incorporates geolocation capabilities to confirm the physical existence of assets, improving valuation accuracy and reducing risk.
The platform features robust risk management tools, such as creditworthiness assessments, debt-to-income ratio analysis, and early warning indicators that help institutions detect potential defaults before they occur. Additionally, it offers multi-level approval workflows, real-time application tracking, and comprehensive audit trails to ensure regulatory compliance.
Seqela Technologies aims to expand the platform’s reach in the coming period to include banks and microfinance institutions, amid growing demand for credit in the Ethiopian market. This aligns with a broader trend across Africa, where technology is increasingly being used to reduce loan processing times from weeks to just days.
Through its solutions, Seqela is building an integrated digital infrastructure for financial services, seeking to reshape lending systems through automation and data integration—enhancing efficiency across the sector while promoting financial inclusion nationwide.