FastCash, a fast-growing instant loan platform in Nigeria launched by First City Monument Bank, has disbursed N59bn worth of loans through its digital platform.
A statement said all the loans disbursed by the platform were worth N59bn and had helped customers from different walks of life to meet urgent financial needs and achieve their short-term objectives.
It said the milestone was particularly significant because of its financial inclusion benefits.
“Every FastCash loan closes the access to finance gap in Nigeria and ensures the well-being of a Nigerian household,” the statement said.
Commenting, the Divisional Head, Personal Banking of FCMB, Mr Shamsideen Fashola, said, “The amount of trust placed in FastCash by our customers is humbling.
“We will continue improving on this product to deliver an exceptional customer experience. The success we have achieved thus far is a testament to our commitment at FCMB to support our customers through financial technology products that are convenient and accessible.”
Launched by First City Monument Bank in 2018, the statement said FastCash is a personal digital loan product that makes credit up to N200,000 available to existing customers and non-customers of the bank in less than five minutes.
The statement said, “Customers can conveniently access the loan through the FCMB New Mobile App.
“In addition to FastCash, FCMB also offers a Salary Plus Loan, a consumer credit scheme available to salary account holders.