FastCash distributes N105bn in loans to 3m Nigerians

FastCash, an instant loan solution powered by First City Monument Bank (FCMB), has disbursed over 3 million loans worth N105 billion to Nigerians.

Each loan was disbursed in less than five minutes, with no collateral or paperwork required for accessing up to N200,000 via the Bank’s mobile app and *329*11 USSD code.

The instant loan solution powered by state-of-the-art Artificial Intelligence and Machine Learning technology was launched in 2018 and has become popular for Nigerians seeking quick access to funds.

It is available to FCMB customers, and repayment terms are flexible, with repayment options ranging from 30 days to three months cycles.

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Affirming the Bank’s commitment to financial inclusion and customer-centric solutions, Mr Shamsideen Fashola, Divisional Head of Personal Banking at FCMB, said: “We are thrilled by the extraordinary reach and impact of FastCash”

“We know the solution has improved the well-being of Nigerians. So, we remain resolute in our dedication to serving as a steadfast pillar of support to our customers and the wider Nigerian society.”