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E-Financial

QuickCheck Boosts Financial Inclusion with New App

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QuickCheck, an online banking and micro-lending platform that provides collateral-free loans, has launched a new app to improve financial inclusion among Nigerians, while also educating borrowers about financial instruments and managing risky debts.

 

About 60 per cent of the country’s adult population remains financially excluded, lacks credit history and cannot access financial services such as quick and easy loans.

 

In a research conducted by the Enhancing Financial Innovation and Access (EFInA), while only four per cent of the adult population has access to credit through formal financial institutions, a larger number have their loan requests rejected due to bank policies and requirements.

 

Luis Rodrigues, chief technology officer, QuickCheck, said this was addressed in 2017 as the company developed a solution to give Nigerians access to such loans anywhere and anytime, with no collateral necessary. The startup already helps individuals with access to loans up to N200,000 in minutes, thereby supporting entrepreneurs start and sustain micro-businesses.

 

“With the new app, we want Nigerians to access loans quickly and conveniently. So if you live in Nigeria, own an Android phone, and you need quick cash to settle emergencies, go on Google Play Store, search for “quickcheck” and spot our bright orange icon to download the QuickCheck loan app for free, sign up to create an account and apply for a loan instantly without collateral.

 

“QuickCheck will simply run a credit scoring, and if you’re eligible, the cash loan will be disbursed to your account within minutes. All the necessary information to access loans is also available on our website,” he said.

 

Having built its own credit scoring algorithm based on artificial intelligence applied to non-traditional data, the internal data science team actively works on the improvement of the assessment technology to make the procedure of getting a loan even faster, more streamlined, and tailored to the needs of different groups.

 

“Currently, we are experiencing exponential organic growth and are closing a couple of strategic partnerships to get even closer to our customers, by integrating our technology and credit offering where they need it, within those channels they are already accustomed to.

 

“We strongly believe in the product innovation, and therefore, we invest a lot in the exploration of complementary products,” Fabiano di Tomaso, CEO of QuickCheck.

 

With its tech solution, QuickCheck not only bridges the financial inclusion gap, but improves customer interaction with the new app and a revamped brand identity.

 

Every day, hundreds of people from Nigeria can benefit from the speed and hassle-free access to credit — no papers, no queues, no collateral, no guarantors, just a smartphone and QuickCheck app available on Google Play Store.

 

In just two years, QuickCheck, processes nearly N2,500 transactions daily, and has already disbursed around N2 billion in microloans ranging between N5,000 and N200,000

 

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

E-Financial

CBN, NGX Group Defend Economic Reforms at Nasdaq

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In a bid to woo global capital and enhance investor’s confidence, Nigeria’s top financial leaders presented a unified front at a strategic investment forum hosted at the Nasdaq MarketSite in New York.

The event was organised by the Central Bank of Nigeria (CBN) in collaboration with Nigerian Exchange Group (NGX Group), JPMorgan, and the African Private Capital Association (AVCA).

The exclusive gathering brought together leaders from the Nigerian diaspora, global investment institutions, and corporate executives for insightful dialogue on the country’s evolving financial landscape and its readiness to attract global capital for sustainable growth.

Governor of the CBN, Olayemi Cardoso in a fireside chat with Nobel Prize-winning economist Dr. James Robinson, outlined Nigeria’s monetary policy direction, growth prospects, and efforts to deepen its financial markets.

He reaffirmed the CBN’s commitment to disciplined policy management, market-friendly reforms, and enhanced transparency to foster a stable, investor-friendly environment. Cardoso also stressed the importance of strong collaboration between regulators like the CBN and market operators such as NGX Group, describing it as critical to building a resilient financial system and mobilising long-term investments.

Temi Popoola, Group Managing Director/CEO of NGX Group, moderated an engaging discussion on how Nigeria’s reforms are repositioning the country as an increasingly attractive destination for global capital.

“Today’s dialogue marks a pivotal step in reshaping global perceptions of Nigeria’s investment story,” said Popoola. “The candid engagement between policymakers, market operators, and investors reflects the real progress Nigeria is making. NGX Group remains committed to supporting reforms that strengthen market structures, drive innovation, and accelerate economic growth.”

While investors welcomed Nigeria’s reform agenda, they emphasized that sustained confidence will require consistent FX policies, lower transaction costs, reduced regulatory friction, clearer direction on non-oil revenue reforms, an improved ease of doing business, and continued transparency in monetary and fiscal communication.

The forum ended on an optimistic note, with participants expressing strong confidence in Nigeria’s economic prospects and its potential for deeper integration into global financial markets, provided reform momentum continues.


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E-Financial

Union Bank Rewards Customers in Save and Win Promo with Motorcycles and Cash Prizes

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Union Bank of Nigeria has rewarded another set of customers in the ongoing Save and Win Palli Promo 4 campaign. Six lucky customers each won a brand-new motorcycle, and 120 additional winners won cash prizes.

The third monthly hybrid live draws were transparently conducted at the Bank’s Sabo, Yaba Branch in Lagos under the supervision of relevant regulatory institutions.

For integrity purposes, some of the winners were contacted to congratulate and remind them that the Bank will never call to request or confirm their confidential banking details such as BVN, date of birth, pins, or passwords.

Save & Win Palli Promo 4 is a nationwide campaign designed to reward both new and existing customers with cash prizes and other exciting gifts worth N131,000,000.

This initiative aims to support them in achieving their savings goals while getting rewarded at the same time.

To stand a chance to win, customers can continue to top up their savings in multiples of N10,000 or more and perform a minimum of five transactions a month to increase their chances of winning in the draws. This promo is open to new and existing savings and current account holders.

Prospective customers can download the UnionMobile app on their smartphones to open accounts or walk into any Union Bank branch.

Returning customers can call the 24-hour Contact Centre on 07007007000 or visit any Union Bank branch nationwide to reactivate dormant accounts.


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E-Financial

FCMB Group Redefines Corporate Storytelling with The Power Of The Group TVC

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For decades, financial institutions have struggled to communicate the depth and breadth of their services in a single, coherent message.

FCMB Group’s latest TVC, The Power Of The Group, masterfully accomplishes this by placing its subsidiaries at the heart of the narrative.

The ad opens with a heated basketball game with a lone basketballer then pans out to the full force of the 5-woman team, subtly introducing the idea of collaboration. As the story unfolds, viewers are taken on a journey across Taraba, Abuja and Lagos States, each symbolising a key aspect of FCMB’s ecosystem.

The imagery of the drummers playing on Mambila Plateau reinforces the brand’s message: success is not achieved in isolation—it’s built through strategic partnerships.

From banking to consumer finance, investment management to investment banking, the TVC seamlessly weaves in elements from all arms of the FCMB Group, making it clear that power lies in collaborative innovative efforts.

The tagline ‘The Power Of The Group’ encapsulates the campaign’s essence, reinforcing the importance of unity in financial empowerment.

The production process was an extensive undertaking, requiring 4 months of production and a team of over 1,000 industry professionals.

The investment, said to run into hundreds of millions, underscores the bank’s commitment to delivering not just a commercial but a landmark campaign that defines its brand for years to come.

As the industry takes note, FCMB Group’s approach could redefine how corporate Nigeria tells its story.


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