Sterling Bank said it has disbursed over N100bn digital loans and about N5bn digital credits through its digital credit solution online instant lending platforms called Specta and PaywithSpecta.
It disclosed this in a statement title ‘Big milestone as Specta disburses over N100bn digital loans’ on Tuesday.
Specta and PaywithSpecta provide services to salaried and self-employed individuals, small and medium-sized businesses, and merchants, it stated.
It stated, “Both solutions make loans and digital credits available in less than five minutes to banked Nigerians, irrespective of their banks, without paperwork and collateral.
“But above all, they are also the best in the segment for providing the best lending rates and interest free funding up to 90 days for online and offline purchases.”
The Divisional Head, Retail and Consumer Banking, Sterling Bank, Shina Atilola, said, “Specta has disbursed about N100bn in digital loans in three years.
“It is an important milestone worth celebrating by a platform that revolutionised and opened digital lending space in Nigeria.
“PaywithSpecta, the digital credit solution extension of Specta, has also exceeded expectations. In a few months, it has provided over N5bn in digital credits to Nigerians.”
He added, “We are proud to be at the forefront of deploying innovative solutions that meet the needs of everyday Nigerians and small businesses.
“Our profound gratitude to our esteemed retail customers and business owners for their loyalty that has made Specta and PaywithSpecta the country’s undisputed market leaders in digital lending and credit solution segments.”
The statement said Specta offered up to N5m consumer loans in five minutes.