The pan African bank, Ecobank Nigeria has introduced a new product offering, Xpress Save and Xpress Loan that will enable customers to conveniently and speedily open digital savings accounts and at the same time obtain short-term micro credit loans using mobile phones through a USSD code; *326#.
Ecobank Xpress Save and Xpress Loan is first of its kind in the Nigeria market, it is an online real-time, self-service solution which is suitable for all micro entrepreneurs, artisans, traders, low income earners and the entire unbanked and underbanked mass market population.
The Xpress Save and Xpress Loan product is simple to access digitally through the mobile phone and it is available 24 hours every day of the week.
Speaking at the unveiling of the product in Lagos, Patrick Akinwuntan, Managing Director, Ecobank Nigeria, said; “This innovative product is part of the bank’s overall strategy to drive financial inclusion and make full banking truly accessible to all in Nigeria. “
“Xpress Save and Xpress Loan is a digital product designed to stimulate micro savings in the economy and at the same time expand access for eligible customers to obtain short term micro credit loans to bridge cashflow gaps thus contributing to the national efforts to deepen financial inclusion.”