FastCash, First City Monument Bank’s (FCMB) instant loan solution, has successfully distributed N105 billion in loans to three million Nigerians, according to a statement.
Launched in 2018, FastCash utilizes Artificial Intelligence and Machine Learning technology to provide quick loans.
The solution is exclusively available to FCMB customers, and it offers flexible repayment terms, ranging from 30 days to three months.
FCMB stated that the achievement of disbursing N105 billion in loans reflects the popularity and trust Nigerians have in the product. FastCash has effectively filled the credit gap in both urban and rural areas, ensuring convenient and accessible access to funds.
Mr. Shamsideen Fashola, the Divisional Head of Personal Banking at FCMB, highlighted the transformative impact of FastCash, emphasizing the bank’s commitment to financial inclusion and customer-centric solutions.
FCMB aims to continue empowering individuals and advancing society through innovative, secure, and easily accessible digital products
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