He said Sterling Bank is keen to position Specta as Nigeria’s fastest lending platform, as part of its strong desire to empower businesses and enable startups. Specta is an instant lending platform that offers consumer loans of up to N5 million in five minutes. The lending platform uses proprietary data and analytics to process and disburse consumer loans to salary earners, who belong to pre-approved communities in less than five minutes without paper work and collateral. The types of loans offered include personal, payday, wedding finance, rent, education and medical finance loans, among others, to salary earners. Specta automates, simplifies, and personalises the loan application, disbursement and receipt process, while eliminating the slow turnaround time and other inconveniences associated with the manual process.

Source: The Guardian February 05, 2019 04:07 UTC