Loans: Specta lends N2bn in 4 months

Specta, the lending platform powered by Sterling Bank, has advanced consumer loans worth N2 billion to salaried workers who are members of the lending platform’s pre-approved community.

The loans, according to the bank, were accessed in less than five minutes without human intervention by most of the beneficiaries.

Commenting on Specta’s success, Dapo Martins, Chief Marketing Officer, Sterling Bank, said: “The market is responding positively to Specta because it is meeting the credit needs of the contemporary Nigerian salaried worker who wants an immediate loan without leaving the convenience of his/her office or home. As such, the record-breaking Specta loan advances will continue in the second half of the year, especially because liquidity is a nonissue. There is over N8bn set aside to meet the pressing credit needs of salaried workers in the country for just six months.”

Martins added that beyond 2018, the bank was certain that there would continue to be an upswing in the adoption of Specta in market because it took advantage of technology to offer a refreshing and satisfactory experience to consumers.

“Customer testimonials are received daily about how the platform has simplified the loan booking process and incredibly reduced disbursement timeline to just five minutes after an application. We will continue to meet the needs of consumers seeking bespoke financial solutions in the Nigerian market,” he said.