We have disbursed over 117 billion naira in loans since its inception – FairMoney – Nairametrics



The FairMoney team expressed the importance of serving the unbanked and underbanked, which, according to the bank, “stems from a burning desire to bridge the gap between developing African countries, Nigeria included, and the new banking era enjoyed by developed countries.

The FairMoney team said this at the media conference last Friday as they said the bank was founded with a global vision to be the leading digital bank promoting financial inclusion for the average Nigerian.

The strategy was reportedly based on the need to respond to the majority, claiming that FairMoney was born to meet the predominant needs of the Nigerian market – small and medium-sized businesses, through fast and transparent lending.

Management further stated that based on the strategy, over the past 4 years of operation, FairMoney MFB would have grown its customer base to over 5 million users and 2 million bank accounts through relentless positioning. as a “new bank for the masses”.

According to Laurin Hainy, co-founder / CEO of FairMoney, “FairMoney is well positioned to help our clients meet their diverse financial service needs, even as we work to maintain our current position as the leading digital bank in Nigeria. Our mission has always been to meet the needs of as many Nigerians as possible. Our approach is to provide millions of Nigerians with loans and capital to meet their immediate needs and in some cases to expand their businesses, and so far we have disbursed over 117 billion naira in loans since the beginning.

“Our goal is ultimately to use technology to bank the 60 million Nigerians currently excluded from the financial ecosystem. We have also implemented secure and innovative technological processes to improve our lending operations, as well as a strong privacy policy and comprehensive loan collection policy which has been successfully deployed over the past 4 years. years “, added Laurine.

FairMoney maintains that it has carved out a solid reputation as a leading engine for financial inclusion in Nigeria, with millions of people benefiting from its many financial services and features, through its strong loan service offerings. . Some of the services include quick unsecured loans, free debit cards, and free interbank transfers to support SMEs and MSMEs by relieving the current expenses of traditional banks through account maintenance fees.

Among FairMoney’s many offerings is the digitization of general banking procedures through the app by making bill payments accessible without the need to visit bank rooms and by introducing consumer empowerment initiatives like the FairMoney Transact & Engagement. Win Black Friday which allowed the lucky winners to return home with 10 smartphones, 5 generators & a delivery motorcycle; not to mention the “12 Days of Fair Giving” Christmas gifts, all with the goal of providing a level playing field for all and staying true to their promise of a fair bank for all.

Speaking at the Media Parley, Nengi Akinola, Head of Marketing & Branding, reiterated FairMoney’s commitment to supporting Nigerians. “For us at FairMoney, the goal is to see a world where everyone has the same financial opportunities and the same support to achieve their financial goals, no matter how big or broad they are. We will continue to develop our offerings, so that we can continue to meet the growing needs of average Nigerian customers ” she said.

“We can’t wait to share all of the exciting new features we bring to the FairMoney app in the New Year” Nengi added.



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