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Access Bank has announced a revamp of its digital loan platform, ‘QuickBucks’, aiming to enhance lending services for Nigerian consumers. The platform provides a range of loan options, including business loans, vehicle financing, and school fees payment, allowing customers to access funds quickly and easily.
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Efe Obaigbena, Unit Head of Digital Lending at Access Bank, highlighted the advancements in the QuickBucks platform. Since launching its first digital PayDay loans in 2017, the bank has issued 18 million digital loans totaling over N740 billion, enabling customers to receive up to N10 million instantly.
Njideka Esomeju, Group Head of Consumer Banking at Access Bank, emphasized the bank’s commitment to helping Nigerians achieve financial stability amidst challenging economic conditions. “At Access Bank, our goal is to enable every Nigerian to achieve financial freedom, which is why we introduced digital lending solutions,” Esomeju stated.
Esomeju outlined the accessible nature of QuickBucks loans, which can be accessed through the QuickBucks USSD code, the Access More app for smartphone users, or via the QuickBucks platform on the web or app.
She noted that the platform has evolved to offer more flexible terms: “Initially, our digital loans were limited to salary earners with a 30-day repayment term. Now, QuickBucks loans provide up to 12 months of repayment time for customers with salary accounts, self-employed individuals, active account holders, and business and trader account holders.”
Regarding interest rates, Esomeju mentioned that QuickBucks offers competitive rates ranging from 5% to a maximum of 15%, depending on the type of loan. She emphasized the platform’s user-friendly design, particularly the USSD code option, which makes it accessible to customers with low literacy levels, thereby encouraging financial inclusion.
