FirstBank disburses N1tn in Instant Digital Loans, Empowering Financial Inclusion

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FirstBank has announced a significant milestone, disbursing N1 trillion in instant digital loans to it’s customers. This achievement underscores the bank’s commitment to innovation and customer-centric approach, providing access to finance for millions of Nigerians and Africans.

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Since launching its digital loan service in August 2019, FirstBank has developed a robust digital lending ecosystem powered by artificial intelligence and machine learning. This platform has enabled 1.5 million unique borrowers to access credit instantly and securely.

Group Executive, e-Business & Retail Products at FirstBank, Chuma Ezirim, said, “This success underscores our ongoing commitment to innovation and a customer-focused approach, which are central to FirstBank’s core values.” He added, “We value the trust our customers place in us to support their financial aspirations. Our efforts to advance digital lending will persist, especially to the excluded and underserved customer segments, while effectively managing risks in the process.”

FirstBank currently disburses approximately ₦1 billion daily in digital loans through its multi-channel loan disbursement service, which requires no collateral, zero documentation, and is void of human interactions. This innovative approach has made financial services more accessible and convenient for customers.

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