Seqela Technologies has introduced a new digital platform designed to streamline loan processing across the financial sector. The system, known as HK LAMS, was unveiled this week in Addis Abeba, with the company saying it aims to significantly reduce loan approval times and eliminate paper-based workflows. Seqela claims the platform can cut processing time by up to 70pc. The platform is already in operation at Dedebit Credit and Savings Institution, where it has processed more than 45,000 loan applications. It replaces manual procedures with a fully digital, data-driven workflow. HK LAMS integrates technologies such as artificial intelligence, optical character recognition, and geographic information systems. It also connects with the national digital identity system, Fayda, and land registry databases, enabling faster verification of borrower identity and collateral. The system also includes built-in risk management tools that assess borrower affordability and flag potential default risks, supporting more informed lending decisions.

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