Loma Bank has deployed embedded finance infrastructure for more than 11,000 entrepreneurs and small businesses through a strategic partnership with Liberty Hub, as digital banking providers intensify efforts to expand financial inclusion across Nigeria’s informal economy.
The partnership will see Loma Bank power the financial services layer within Liberty Hub’s enterprise ecosystem, enabling entrepreneurs to access digital bank accounts, payments, cooperative savings, business loans, insurance products and payment cards directly through the platform.
The bank said in a statement on Friday that the collaboration reflects the growing adoption of embedded finance models in Nigeria, where banking services are increasingly being integrated into non-bank digital platforms to simplify access to financial tools for underserved users.
Liberty Hub operates a cooperative-driven platform that supports entrepreneurs and SMEs with access to funding, technology tools, training, market opportunities and business information. The company said its structure allows informal businesses to become more organised, visible and financially accessible.
Through the integration, Liberty Hub members will be able to access financial services without relying on traditional banking processes, which many small businesses in Nigeria’s informal sector often struggle to navigate due to limited documentation, collateral requirements and weak credit histories.
Chief Operating Officer of Loma Bank, Ayomide Olupitan, said the partnership aligns with the bank’s strategy of building financial infrastructure capable of reaching underserved businesses through digital ecosystems with existing economic activity.
“Too many entrepreneurs in Nigeria are still excluded from formal financial systems despite running viable businesses,” Olupitan said. “What Liberty Hub has built is a trusted ecosystem with real economic activity, and we are excited to provide the banking infrastructure that helps these businesses grow sustainably.”
According to him, the partnership extends beyond conventional banking by helping entrepreneurs build financial identities and scale their operations more effectively.
“This partnership is about more than accounts and loans. It is about creating financial identity, improving access to opportunity and helping informal businesses become more structured and scalable,” he added.
Managing Director and Chief Executive Officer of Liberty Hub, Perk Elijah, said the collaboration was designed to address one of the biggest structural barriers facing entrepreneurs in Nigeria’s informal economy: limited access to affordable and reliable financial services.
“We partnered with Loma Bank to close the credit and financial access gap for Nigeria’s informal sector,” Elijah said. “Many of our subscribers run viable businesses but are excluded from formal banking due to a lack of collateral, credit history, or documentation.”
According to him, Loma Bank’s digital-first and risk-based lending model complements Liberty Hub’s cooperative framework, enabling financial services to be delivered at scale while managing credit risks efficiently.
“Loma Bank’s digital-first, risk-based lending model aligns with our cooperative structure, making it possible to serve these entrepreneurs safely and at scale,” Elijah added.
Liberty Hub said the integration is expected to improve convenience for members by enabling faster loan approvals, lower interest rates and easier access to embedded financial services directly through its platform.
The company noted that the partnership strengthens its ability to support entrepreneurs beyond networking and marketplace services by introducing structured financial infrastructure into its ecosystem.
For Loma Bank, the collaboration provides access to a fast-growing network of verified SMEs and cooperatives across Nigeria, creating additional opportunities to deepen financial inclusion through embedded banking technology.
Embedded finance is becoming an increasingly important strategy among financial technology firms and digital banks seeking to expand access to financial services among underserved populations without relying solely on physical banking infrastructure.
