Stanbic IBTC Bank, has launched a Smart Loan digital solution to facilitate customers who have an account with their Asset Management department access loan which enables customers meet medium-term financial obligations.
Stanbic IBTC, a subsidiary of Stanbic IBTC Holdings PLC, explained that the devaluation of the naira due to the global economic downturn has reduced disposable income as more naira is required to maintain the current level of expenditure and consumption. This justifies the need for people to access funds seamlessly from their financial partners in an import reliant economy.
It stated that the Smart Loan, a digital, paperless loan facility will come in handy for many Nigerians, especially those in dire need. The solution will support Nigerians by giving them access to funds while also contributing to economic growth.
The Smart Loan digital facility is available to customers with a mutual fund investment with Stanbic IBTC Asset Management. This enables them to access the instant and quick paperless loan facility of up to N10 million. The lending solution empowers them to meet their financial needs while also maintaining a healthy cash flow.
Chief Executive of Stanbic IBTC Asset Management, Oladele Sotubo, 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.”
Bunmi Dayo-Olagunju, Head, Client Solutions, also said Stanbic IBTC Holdings will continue developing innovative financial solutions to enable customers to achieve stable financial freedom through simple and quick banking solutions accessible to them at their convenience. We are delighted that we can further serve our customers in positive ways that improve their finances through our arrays of financial products.”