List of banks supported by MyBankStatement (MBS)

What is MyBankStatement (MBS)?

MyBankStatement (MBS) is a secure financial data service that allows loan applicants to share their bank statements directly with lenders without needing to manually download, scan, or upload documents. Instead of relying on customer-submitted PDFs, which can be incomplete, delayed, or altered, MBS connects directly to the borrower’s bank and retrieves verified transaction data on their behalf.

This approach removes a major friction point in the loan application process. For borrowers, it simplifies the experience by eliminating manual document handling. For lenders, it improves the quality, reliability, and speed of financial data used in credit decisioning.

MBS is typically used during the credit assessment stage of a loan application, where lenders need to evaluate income patterns, spending behaviour, and repayment capacity.

How Lendsqr uses MBS

Within Lendsqr, MBS is integrated into the credit decisioning workflow. When a lender configures bank statement analysis as part of their loan requirements, borrowers are prompted during the application process to share their bank statement via MBS.

This interaction happens seamlessly within the loan application flow. The borrower does not need to leave the platform or manually upload any files. Instead, they are guided to select their bank and authenticate securely.

Once the borrower completes authentication, MBS retrieves the transaction data and sends it directly to the lender through the system. This data can then be used within decision models, scoring systems, or manual review processes depending on how the lender has configured their risk assessment.

This integration ensures that lenders are working with real-time, verified financial data rather than static documents.

For a detailed walkthrough of how MBS works within Lendsqr’s credit scoring process, see: How to use myBankStatement with Lendsqr for credit scoring

For step-by-step instructions on generating your bank statement through MBS, see: How to generate your bank statement via MyBankStatement (MBS)

When MBS is required

MBS is not automatically used for every loan application. It is only triggered when a lender has configured bank statement analysis as part of their eligibility or scoring requirements.

In such cases, borrowers will encounter the MBS step during their application flow. They must complete this step successfully for their application to proceed.

If MBS is a required step and the borrower does not complete it, the loan request may remain pending or be automatically declined depending on the lender’s configuration.

A practical example

Suppose a borrower applies for a loan through a lender’s platform powered by Lendsqr. At the bank statement stage, they are asked to connect their bank account via MBS. They select their bank from the supported list, authenticate with their banking credentials, and MBS retrieves their recent transaction history. The lender receives this data automatically and uses it to assess the borrower’s eligibility. The borrower never has to download or send a single file.

This only works if the borrower’s bank is supported by MBS. The list below shows which banks are currently live on the platform.

Supported banks

Last reviewed: 2025. This list is updated as new banks go live on the MBS platform.

Commercial Banks (Live)

These banks are fully integrated and available for MBS statement generation:

1. GTBank
2. UBA
3. Access Bank
4. Diamond Bank
5. Sterling Bank
6. Union Bank
7. Polaris Bank
8. Heritage Bank
9. Fidelity Bank
10. Wema Bank
11. FCMB
12. Stanbic IBTC
13. Ecobank
14. Zenith Bank
15. Keystone Bank
16. Providus Bank
17. First Bank
18. Unity Bank
19. Parallex Bank
20. Titan Trust Bank
21. Globus Bank
22. Lotus Bank
23. Jaiz Bank

Merchant & Microfinance Banks (Live)

These institutions also support MBS for statement generation:

1. ARM Investment
2. Amju Unique MFB
3. Coronation Registrars Limited
4. First Ally Asset Management
5. FSDH Merchant Bank
6. Investment One
7. Meristem Securities Limited
8. VFD Microfinance Bank
9. Accion MFB

Fintechs (Live)

These fintech companies currently support MBS integration:

1. Kuda Microfinance Bank

Important Notes

If your bank is on the list: You can proceed with MBS during your loan application. Follow your lender’s prompts at the bank statement stage and select your bank from the available options.

If your bank is not on the list: Your bank may be in a pilot or installation phase and not yet live on the MBS platform. In this case, your lender may ask you to provide your bank statement through an alternative method. Contact your lender directly to confirm what options are available to you.

Security: Only use MBS through your lender’s official portal or the MBS platform directly. Do not share your banking credentials through any unverified third-party application.

Read also: How to generate your bank statement via MyBankStatement (MBS)

Best practices for lenders using MBS

Clearly communicate to borrowers when bank statement access is required to avoid confusion during the application process.

Use MBS data in combination with other decisioning tools such as scoring models and ecosystem checks for a more comprehensive risk assessment.

Monitor completion rates of the MBS step to identify potential drop-off points in the application flow.

Provide fallback options for borrowers whose banks are not yet supported to avoid losing potential customers.

Conclusion

MyBankStatement (MBS) simplifies the process of accessing verified financial data by eliminating the need for manual document handling.

For lenders, it improves the speed and accuracy of credit decisions. For borrowers, it creates a smoother and more seamless application experience.

When properly integrated into the Lendsqr decisioning workflow, MBS becomes a powerful tool for building faster, more reliable, and more secure lending operations.