Sterling Bank Plc has launched a one-stop digital solution for corporate credit solutions, particularly for business and corporate enterprises.
The bank said in a statement that the new product, known as Gazelle, is a versatile digital loan application system that provides corporate customers with a more innovative way to finance their business.
The Managing Director and Chief Executive Officer of the Bank, Mr Abubakar Suleiman, said, “With Gazelle, corporate customers will experience a smarter way to access finance and achieve sustainable growth for their businesses.”
He said launching the product, among other digital banking products, had positioned Sterling Bank as a leader in innovative digital solutions in the corporate lending space for businesses.
The CEO urged business owners to visit the website to get loans faster and more conveniently to meet the needs of their businesses.
On how the product works, Suleiman said a customer must set up a profile for the business and begin the business evaluation process by answering all relevant questions regarding the company, while uploading the required supporting documents.
He said the business profile gets approved after the customer has received an obligor assessment report following the validation of the information and documents provided.
Once the profile is approved, he said, the customer could request a loan and get a decision from the bank.
He said the loan would then be disbursed if the customer meets the conditions for loan disbursement and receives said loan through its preferred channel.
The statement said some of the bank’s other digital products include Specta, PaywithSpecta, Imperium, Omni X, Doubble, I-invest, Alt Mall and OneBank.
The bank recently recorded more than 220 per cent growth in retail lending through Specta, its flagship online lending solution, and its variant, PaywithSpecta, it stated.
Consequently, it added that through Specta, Sterling had been able to empower individual Nigerians by granting them credit to enhance their financial lives, as well as push for gender parity in lending, a development which has resulted in granting more than N12bn loans to women.
The bank disclosed it disbursed more than N29bn loans through PaywithSpecta because of its focus on sustaining small businesses.
“PwS has also enabled more than 4,300 merchants to receive instant payment for their goods, improving their cash flows while allowing consumers to enjoy services immediately and conveniently pay in instalments,” the statement said.