Maxim wants to use Nigerians’ financial history to issue credit in the UK
Moving from Nigeria to the UK can leave people with a strange financial problem: they may have years of borrowing and repayment history, but very little of it is useful to a UK lender.
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Moving from Nigeria to the UK can leave people with a strange financial problem: they may have years of borrowing and repayment history, but very little of it is useful to a UK lender. A person could have earned a salary in Nigeria, taken out loans and paid them back on time. After moving to the UK, they may still find it difficult to get a credit card because they have not built enough history in the UK.
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Moving from Nigeria to the UK can create a strange financial problem. People may have years of borrowing and repayment history, but little of it is useful to a UK lender. A person could have earned a salary in Nigeria, taken out loans and paid them back on time. After moving to the UK, they may still struggle to get a credit card because they have not built enough local history. Maxim, a fintech company, is trying to use some of that previous financial information when assessing customers for credit in the UK.The company launched its UK operations on 27 August 2026. It is initially targeting Nigerians and other Africans living in the country. Its first product is a credit card for people with limited UK credit history.
Your Nigerian credit history does not move with you
Credit histories are built within individual financial systems. A Nigerian credit record does not automatically appear on a person's UK credit file after they relocate. UK lenders generally assess applicants using information from the UK's credit reporting system. There is also no single international credit score that follows someone from one country to another. This can leave new arrivals in a difficult position. Their income may be enough to support a credit application. However, a lender may have little local information about their previous borrowing. This is where Maxim's multi-book underwriting system comes in.
“A Nigerian credit history does not automatically follow someone to the UK, even when they have years of borrowing and repayment behind them.”
Maxim uses information from Nigeria
With a customer's permission, Maxim says it can verify their Nigerian identity and financial information. It uses identifiers such as their Bank Verification Number (BVN) and National Identification Number (NIN). It then considers that information alongside the customer's circumstances in the UK.
This does not mean a Nigerian credit score is added to the UK credit system. Maxim makes its own assessment using information from both markets. Its underwriting system covers secured, partially secured and unsecured credit books. This allows the company to place customers into different credit card tiers based on the information it has. Customers can then build a UK credit record through their use of the card. The company says its cards are available to people with limited UK credit history. Applicants still have to meet UK requirements. Independent reporting says applicants need a valid UK address and identity document. They must also make a minimum £300 deposit.
The product is aimed at people who are new to the UK
Maxim has divided its UK customers into two groups: “The Newcomer” and “The Settler”. The Newcomer is someone who has recently arrived and has little UK credit history. The Settler has been in the country longer. They may still want financial products that consider their wider financial history. The company says both groups can use its credit cards to build their UK financial profile. This is different from simply giving someone a card based on their Nigerian credit history. The customer still has to build a record in the UK. Their activity there will determine how that record develops.
Maxim is bringing more than credit to the UK
The credit card is part of a wider UK product. Maxim's UK platform also includes a bank account and GBP-to-NGN transfers. Customers can manage money between the UK and Nigeria through the same service. The company also offers rewards on card spending. For Maxim, this means the customer relationship can continue after someone moves. The company already operates in Nigeria, where it provides credit products. The UK business gives it another market in which to serve some of those customers. Maxim has also partnered with Paymentology to handle issuer processing for its UK card programme. Paymentology says its Lume platform is being used to support the cards.
The UK launch does not remove the need for a UK credit history
The biggest distinction is that Maxim is not moving a Nigerian credit report into the UK. Customers still have to build a UK credit history. What changes is the information available to Maxim when it decides whether to give someone credit. For someone who has recently arrived, the company may have more to assess than a UK credit file with only a few months of activity. Whether that makes a meaningful difference will depend on how Maxim's underwriting performs as it takes on customers. It will also depend on how those customers use the cards. For now, the company is starting with the Nigerian diaspora in the UK. It is using financial information from Nigeria to make credit decisions in a market where many of its customers are starting their UK credit history again.
