Business

Branch International Processes N40bn Loans To Nigerians

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Branch International has said that in the past three years of its operations in Nigeria, it has processed over N40 billion in over three million loan transactions.

It added that its app is one of the most downloaded financial apps in Africa.

Branch was founded by Kiva.org founders, an NGO which has raised over $1.5 billion in zero interest capital for global financial inclusion. It is one of Africa’s most downloaded digital banking apps with over 20 million downloads across Nigeria, Kenya, Tanzania and India, restating its commitment to driving financial inclusion in Nigeria.

The company is achieving this by leveraging technology to offer a range of unique financial services to customers, announced recently at a virtual round table held in Lagos.

 

According to the company, the quest to make formal financial services accessible at an affordable rate to individuals and businesses is critical in systematically driving economic development.

 

Thus, their unique range of offerings are designed to offer value to customers whilst enabling them make payments and granting access to loans and investment opportunities.

 

These product features include: free and unlimited money transfers, free bills payment and airtime purchase; a 20 per cent annual investment returns (one of the highest in Nigeria) without any withdrawal restrictions –

investments made through the Branch app are channeled into low-risk financial instruments with capital preservation as the ultimate goal, and; instant loans up to ₦500,000 in minutes with no paperwork or collaterals required and no late charges.

The managing director, Branch Nigeria, Adedayo Ademola, said: “At Branch, it is our commitment to keep up with our objective of leading the way in digital banking, in order to improve the financial wellbeing of Nigerians, unlock the greater potential within the financial services sector and promote seamless banking across the country. Our approach as a mobile-only digital bank is deeply rooted in us prioritising the convenience, satisfaction and safety of our customers.

“With Branch’s suite of unique products, we are consistently pushing the envelope by offering customers valuable services beyond the conventional banking needs, thereby making a meaningful impact on their lives. Branch remains perfectly poised to take on the challenge of providing access to affordable financial services for all,” she added.

For this, the founders have received global media recognition and several awards including being listed in Fortune 40 Under 40. With support from world-class investors such as VISA, IFC and Andreessen Horowitz, Branch continues to deliver superior customer value.

 

Disclaimer: The Post Branch International Processes N40bn Loans To Nigerians was first Published by CHIMA AKWAJAon leadership.ng.

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