FastCash, a First City Monument Bank (FCMB)-powered rapid credit solution, has disbursed over 3 million loans totaling N105 billion to Nigerians from all walks of life. Each loan was given in within five minutes, with no collateral or paperwork required.
In 2018, a cutting-edge Artificial Intelligence and Machine Learning-powered instant loan solution was introduced, gaining popularity among Nigerians seeking quick access to funds. This service, known as FastCash, is exclusively available to FCMB customers and offers flexible repayment terms ranging from 30 days to three months.
The achievement of disbursing N105 billion in loans serves as evidence of FastCash’s widespread acceptance and the trust Nigerians have placed in this financial product. It has emerged as a convenient and accessible means to bridge the credit gap in both urban and rural areas of Nigeria.
Mr. Shamsideen Fashola, Divisional Head of Personal Banking at FCMB, reaffirms the bank’s commitment to financial inclusion and customer-focused solutions, emphasizing the transformative impact of FastCash. He expresses delight in the extensive reach and influence of FastCash, which has disbursed an impressive sum of N105 billion over a five-year period. By effectively addressing the credit accessibility gap, FastCash has significantly improved the well-being of countless Nigerians. FCMB remains dedicated to supporting its customers and the wider Nigerian society through innovative, secure, and easily accessible digital products.
Aside from FastCash, FCMB offers the Salary Plus Loan, an exclusive consumer credit scheme available to salary account holders. This scheme enables eligible FCMB customers to obtain short or medium-term funding to meet urgent financial obligations.
Both FastCash and Salary Plus Loan serve as excellent solutions for individuals facing unexpected financial needs or planning future investments. They offer quick access to funds and flexible repayment terms, making them convenient and affordable options for Nigerians.
FastCash holds the position as Nigeria’s leading instant loan solution, providing digital personal loans within minutes without requiring collateral or paperwork. With features like loan top-up, flexible repayment options, and a streamlined application process, FastCash ensures convenient access to funds for individuals from all walks of life.
As a member of the FCMB Group Plc, First City Monument Bank (FCMB) is dedicated to promoting inclusive and sustainable growth within its communities. The bank aims to establish a supportive ecosystem rooted in Africa, connecting people, capital, and markets. By offering innovative financial solutions like FastCash and Salary Plus Loan, FCMB contributes to improving the economic well-being of Nigerians.