Access Bank strengthens digital lending platform

Access Bank has revamped its digital loan platform ’QuickBucks’, to boost lending to its consumers.

A statement from the bank on Monday said that since the introduction of its first digital PayDay loan in 2017, Access Bank had issued 18 million digital loans amounting to over N740bn.

It noted that with the revamp of the platform, customers could access loans for businesses, vehicle financing, and school fee payments, among others.

Speaking at the relaunch event, the Group Head of Consumer Banking, Access Bank, Njideka Esomeju, said, “Many Nigerians are facing financial challenges due to the economic situation in the country. At Access Bank, our goal is to enable every Nigerian to achieve financial freedom, which is why we introduced digital lending solutions.

“Initially, our digital loans were limited to salary earners with a 30-day repayment term. Now, QuickBucks Loans offer up to 12 months of repayment time for customers with salary accounts, self-employed individuals, active account holders, as well as business and trader account holders.”

According to Esomeju, the bank’s interest rates are among the lowest in the industry, ranging from about 5 per cent to a maximum of 15 per cent, depending on the type of loan.

She added that QuickBucks Loans are designed for ease of access, noting, “

The Unit Head of Digital Lending, Access Bank, Efe Obaigbena, also emphasised the purpose and improvements of QuickBucks Loans.

Obaigbena said, “These loans are designed to address our customers’ urgent financial needs. Since its launch in 2017, QuickBucks Loans have seen significant enhancements. As a responsible lender, we ensure our customers do not face excessive debt by capping our loans at a percentage of salary or account transactions. Eligibility also requires a good credit record across all financial institutions.”

The Lead of Digital Lending, Access Bank, Oladisun Dawodu, highlighted the bank’s commitment to integrating fintech innovations.

He noted, “Access Bank embraces fintech culture to distinguish itself in the market. We are preparing for future advancements such as AI-based lending solutions, blockchain technology for secure transactions, and closer integration with financial ecosystems.

“We are investing in technology and strategic actions to ensure QuickBucks Loans remain competitive and responsive to these developments.”

According to Dawodu, QuickBucks Loans are attractive because they are automated.

“Getting a QuickBucks Loan is quick and easy, and so is repaying it. Customers just need to make sure they have enough money in their account on the due date(s) and the payment will be deducted automatically, without any hassle. Our customer support team will also contact you with messages and calls as your due date approaches,” he explained.