Magnus Uloh, risk officer, Blueridge Microfinance Bank, has said his bank is providing banking services to million Nigerians at their door steps.
Uloh, who made this know during a recent chat with journalists, said that Blueridge is providing door step banking services to deepen the country financial inclusion penetration.
He also disclosed that the disconnection between the fintech’s providing loan services to the economically disadvantaged Nigerians and the public is why there has been protests about the abuse and breach of privacy by some loan apps which have led to sanctions from the Federal Government.
He said to mitigate the situation, there is a need for sensitisation and further education of the public about how the fintech sector works and improvement of service based on feedbacks from their clients.
Uloh said the clamping down on loan defaulters by going through their contact list is not a good way to recover loans, as his company do not indulge in such practices.
‘’We have professional customer-facing teams. We continuously train our staff on proper loan recovery methods in order to ensure issues like these don’t come up. We have a quality inspection team that regularly monitors the activities of customer-facing employees’’, he asserted.
He said people run away with money because they feel that the banks providing the loans has their money and will survive without repaying, but they forget that when they borrow money and refuse to pay, it is a loss to the bank and the economy at large.
“This is why people need to be sensitized so that they will take responsibility in paying back their loan as at when due,” he said.
He said they are sure of recovering the loans as in the process of disbursing the loans, they don’t need to have any interface with the customers as they have their own requirements and through meeting the conditions, the details are known.
On their interest rate, he posits that it is relatively fair and quite competitive as they take into cognizance their target market, knowing that they are not the elites as they are people who are trying to survive in their business.
‘’We considered this and that is why we made our interest rate flexible and low’’, he stated.
Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.
