FastCash, an instant loan solution powered by First City Monument Bank (FCMB), has achieved a significant milestone by disbursing over 3 million loans worth N105 billion to Nigerians. This achievement highlights the popularity and trust that Nigerians have placed in this digital loan product, which provides quick access to funds without the need for collateral or paperwork. The loans are accessible through FCMB’s mobile app and 32911 USSD code, and each loan is disbursed in less than five minutes.
FastCash leverages state-of-the-art Artificial Intelligence and Machine Learning technology to offer a convenient and accessible way for Nigerians to bridge the credit gap in both urban and rural areas. With flexible repayment options ranging from 30 days to three months, FastCash has become a go-to solution for individuals seeking financial assistance.
Mr Shamsideen Fashola, Divisional Head of Personal Banking at FCMB, emphasized the transformative impact of FastCash and expressed the bank’s commitment to financial inclusion and customer-centric solutions. FCMB aims to serve as a steadfast pillar of support to its customers and contribute to advancing Nigerian society through innovative, secure, and easily accessible digital products.
In addition to FastCash, FCMB offers the Salary Plus Loan, a consumer credit scheme exclusively available to salary account holders. This scheme enables qualified FCMB customers to access short or medium-term funding to meet urgent financial obligations.
Both FastCash and Salary Plus Loan provide quick access to funds and flexible repayment terms, making them convenient and affordable options for Nigerians facing unexpected financial needs or planning future investments.
FCMB’s focus on offering innovative financial solutions demonstrates its commitment to improving the economic well-being of Nigerians. As a member of the FCMB Group Plc, the bank aims to foster inclusive and sustainable growth within its communities and build a supportive ecosystem rooted in Africa, connecting people, capital, and markets.