Speaking at the launch of the product in
He said the scheme would provide a platform for online fans as well as followers that are customers of
Steve-Igbodo added: "This application will integrate with existing financial structures of the bank such that users of the online platform can access small loans by normal methods of withdrawing cash without collateral.mThese funds are easy to access and are delivered via a convenient platform."
Explaining how the customers and followers of the bank can benefit from the service, he said facebook or twitter fans can apply for micro-credit by visiting the website.
According to him, users who request for the loans on the social lender platform are rated by the algorithm that calculates their social reputation using various criteria.
Based on this, the loan is either granted or rejected by the back-end social credit officer. Most importantly, the applicant must have an account with the bank.
Steve-Igbodo added: "At
"With the emergence of social banking on our various online platforms, the need to issue loans online has become relevant and this is why
To the Deputy Group Head (Programmes), BINCOM,
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