Stanbic IBTC Launches Smart Loan to Assist Customers
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.
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.”
Many Nigerians, especially those in desperate need, will benefit from the Smart Loan, which is a digital, paperless loan facility, according to the report. Nigerians will benefit from the solution because it will provide them with access to finances while also contributing to economic progress.
Customers who have a mutual fund investment with Stanbic IBTC Asset Management are eligible for the Smart Loan digital facility. This gives them access to a paperless loan facility of up to N10 million right away. They can cover their financial needs while keeping a healthy cash flow thanks to the financing option.
Stanbic IBTC Holdings will continue to develop innovative financial solutions to assist consumers to reach steady financial freedom through simple and rapid banking solutions available at their convenience, according to Bunmi Dayo-Olagunju, Head, Client Solutions. We are delighted that we can further serve our customers in positive ways that improve their finances through our arrays of financial products..”
Bunmi further claimed that the company is devoted to using technology to help accelerate economic development and raise customer living standards.