Stanbic Bank introduces first ever digital instant loan in Zambia

ZAMBIAStanbic Bank Zambia has launched the first ever digital loan platform which enables its customers access online personal loans for those with existing approved facilities, scoring a first on the Zambian market.

This new initiative is the first of its kind on the Zambian market and will allow Stanbic Bank customers access instant pre-approved unsecured personal loans online without having to visit a bank branch.

Speaking at a press briefing in Lusaka, Stanbic Head of Personal Business Banking Mwansa Mutati explained that extra funds will be credited or paid into the customer’s account within a minute of making the online application as the bank dials up its digital financial offering.

She further disclosed that the bank has in the last five years invested over K730 Million (US$51m) in technology, providing customers with a superior customer service through its continuous digital innovations.

“Banking on the go is a must for today’s clients. This product allows customers to access loan facility at their convenience and Stanbic’s aim is to make the process much simpler with a quicker online alternative that will see funds credited directly to the customer’s account within a short time of a successful application,” she said.

Mwansa has since rated the bank high in comparison to other banks on the Zambian market saying it has proved its continued commitment in digital innovation which is the easiest way of doing business for customers.

At the same event, Stanbic bank Head of Digital Channels Mbinga Kafunya has stated that the bank has continued to be a pioneer of a multitude of market-leading innovations in the financial sector as it shifts from traditional brick-and-mortar banking facilities to a digital marketplace.

He said this has further allowed the bank to focus on improved service delivery that is customer – centric and relationship driven adding that it will remain relevant to its customers through various life stages and the business journey. 

Kafunya has further revealed that the bank looks forward to introducing international payments which will enable its customers make payments across the region in the near future.

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