Sterling’s Specta leads credit revolution with ₦5m instant loans
Nigerian consumers are set to witness a ground-breaking system of accessing loan facilities as Sterling Bank Plc has announced the launch of Specta, an online instant lending platform that offers consumer loans up to ₦5 million in five minutes.
The product was unveiled to the media at a well-attended press parley in Lagos on Thursday, April 26, 2018.
The end-to-end online platform uses proprietary data and analytics to process and disburse consumer loans to salary earners who belong to pre-approved communities in less than five minutes without paper work and collateral that includes personal, payday, wedding finance, rent, education and medical finance loans, among others, to salary earners.
Commenting on the revolutionary product, Grama Narashiman, Executive Director, Retail and Consumer Banking, Sterling Bank Plc, said, “Specta automates, simplifies and personalises the loan application, disbursement and receipt process eliminating the slow turnaround time and other inconveniences associated with the manual process.”
Narashiman disclosed that Specta was created to enable individuals who belong to pre-approved communities have access to loans with ease. Pre-approved communities are companies or organisations that have been profiled and enrolled on the Specta platform. Individuals who, however, work for organisations that have not been profiled can apply to be enrolled as individuals on the Specta platform.
Speaking on the new platform, Mr. Sina Atilola, the Group Head, Strategy & Innovation, said Sterling Bank is full of innovation, adding that one can have that five- minute Specta experience without really and truly having an account in Sterling Bank.
“The bank has a purpose to enrich lives. And how do we enrich lives? By adding values to individual lives.Most people want items; they want things; they want to pay school fees; they want products and all that and they don’t want to go through the hassles of loans.”
0 Comments