Sterling Bank recently disclosed that it has disbursed over N100bn digital loans and about N5bn digital credits through its digital credit solution online instant lending platforms called Specta and PaywithSpecta.

Specta and PaywithSpecta provide services to salaried and self-employed individuals, small and medium-sized businesses, and merchants, it stated.

The Bank stated that “Both solutions make loans and digital credits available in less than five minutes to banked Nigerians, irrespective of their banks, without paperwork and collateral.

The Divisional Head, Retail and Consumer Banking, Sterling Bank, Shina Atilola, said, “Specta has disbursed about N100bn in digital loans in three years.

“It is an important milestone worth celebrating by a platform that revolutionised and opened digital lending space in Nigeria.

“PaywithSpecta, the digital credit solution extension of Specta, has also exceeded expectations. In a few months, it has provided over N5bn in digital credits to Nigerians.”