Stanbic IBTC Bank, a part of Stanbic IBTC Holdings PLC, has launched a Smart Loan digital solution to allow customers with an Asset Management account to receive a loan to satisfy their medium-term financial requirements.
The depreciation of the naira as a result of the global economic slump, according to the bank, has reduced disposable income because more naira is required to maintain existing levels of expenditure and consumption.
This is especially true given the economy’s reliance on imports and the necessity for consumers to have smooth access to monies from their financial partners.
It stated that the Smart Loan, a digital, paperless loan facility will come in handy for many Nigerians, especially those in dire need. The solution will support Nigerians by giving them access to funds while also contributing to economic growth.
The Smart Loan digital facility is available to customers with a mutual fund investment with Stanbic IBTC Asset Management. This enables them to access the instant and quick paperless loan facility of up to N10 million. The lending solution empowers them to meet their financial needs while also maintaining a healthy cash flow.
Oladele Sotubo, Chief Executive, Stanbic IBTC Asset Management, said, “The Smart Loan product is designed to help provide our customers with the necessary financial support of up to N10 million to meet their medium-term financial responsibility, while also positioning them on a path to long-term financial stability. We understand the need for constant cash flow and its relevance to our livelihoods and households.”
Bunmi Dayo-Olagunju, Head, Client Solutions, also said Stanbic IBTC Holdings will continue developing innovative financial solutions to enable customers to achieve stable financial freedom through simple and quick banking solutions accessible to them at their convenience. We are delighted that we can further serve our customers in positive ways that improve their finances through our arrays of financial products.”
Bunmi also stated that the firm is committed to leveraging technology to help accelerate economic development and improve the standard of living amongst its customers.
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