FairMoney Microfinance Bank, the Nigerian digital bank, said it has disbursed loans worth over N117 billion to business owners and individuals across Nigeria, since its establishment in 2017
Laurin Hainy, co-founder and chief executive officer of the digital banking and collateral-free instant loan platform, made the disclosure during his presentation of the lender’s accomplishments since inception.
Hainy stated that FairMoney has promoted financial inclusion through its easy-to-access banking, lending and investment services, adding that its goal ultimately is to use technology to bank the 60 million Nigerians currently excluded from the financial ecosystem.
“Our approach to doing this involves providing millions of Nigerians with loans and capital to meet their immediate needs and in some cases, to grow their businesses, and so far, we have disbursed over N117 billion loans since inception,” he said.
The co-founder noted further that Fairmoney has introduced secure and innovative technology processes to improve its lending operations, as well as a strong privacy protection policy, and a comprehensive loan collection policy which has been successfully deployed in the last four years.
Nengi Akinola, FairMoney’s head of marketing and branding, reiterated the company’s commitment to supporting Nigerians.
“To us at FairMoney, the goal is to see a world where everyone has equal financial opportunities and support to reach their financial goals, however great or wide it may be,” she said.
Akinola assured that the company will continue to build on its offerings to meet the growing needs of the average Nigerian customers.
She also noted that FairMoney will in 2022, introduce new features to its digital app to serve customers better across their various financial service needs.