Branch International, one of Africa’s most downloaded digital banking apps, has restated its commitment to driving financial inclusion in Nigeria.
Announcing this at a virtual round table held in Lagos, the company with over 20 million downloads across Nigeria, Kenya, Tanzania and India, revealed its plan to leverage on technology in order to offer a range of unique financial services to its customers.
According to Branch, the quest to make formal financial services accessible at an affordable rate to individuals and businesses is critical in systematically driving economic development.
Thus, it revealed that their unique range of offerings have been designed to offer value to customers whilst enabling them make payments and granting access to loans and investment opportunities.
Some of these product features include:
– free and unlimited money transfers
– free bills payment and airtime purchase
– a 20% annual investment returns (one of the highest in Nigeria) without any withdrawal restrictions
– investments made through the Branch app are channeled into low-risk financial instruments with capital preservation as the ultimate goal, and;
– instant loans up to ₦500,000 in minutes with no paperwork or collaterals required and no late charges
Commenting on the new development, the Managing Director, Branch Nigeria, Adedayo Ademola said:
“At Branch, it is our commitment to keep up with our objective of leading the way in digital banking, in order to improve the financial wellbeing of Nigerians, unlock the greater potential within the financial services sector and promote seamless banking across the country.
“Our approach as a mobile-only digital bank is deeply rooted in us prioritizing the convenience, satisfaction and safety of our customers”.
“With Branch’s suite of unique products, we are consistently pushing the envelope by offering customers valuable services beyond the conventional banking needs thereby making a meaningful impact on their lives. Branch remains perfectly poised to take on the challenge of providing access to affordable financial services for all”. Adedayo added.
In the past three years of its operations in Nigeria, Branch has processed over 40 billion Naira in over 3 million loan transactions and remains one of the most downloaded financial apps in Africa.
Branch is founded by Kiva.org founders, an NGO which has raised over 1.5 billion USD in 0% interest capital for global financial inclusion.
For this, the founders have received global media recognition and several awards including being listed in Fortune 40 Under 40.
Branch receives support from world-class investors such as VISA, IFC and Andreessen Horowitz, in order to continue to deliver superior customer value.