Quick loan services for Access Bank customers

By Fauzeeya JAMAL-DEEN and Beatrice AGBO, Accra

Executive Director for Retail and Digital Banking at Access Bank, Pearl Nkrumah has announced the introduction of quick loan services for its customers to re-affirm its commitment to providing excellent services.

These loans will be made available to customers who are salaried workers customers, as part of efforts to improve its customer service initiatives.

“We want to make it very cheaper to access the quick loans and we do this within 60 seconds through our app, at a cheaper and more affordable rate than what you would have relied on, thinking that a traditional bank like us will not do,” she noted.

Pearl Nkrumah added that aside the quick loans, the bank will provide other loans to customers and businesses in need within 48 hours. She urged customers to hold the bank accountable to make this possible.

She noted that customers can also access interest-free loans with repayment of up to six months. However, any payment period beyond six months will attract an interest rate.

Speaking at the launch of the Customer Service Week, Pearl Nkrumah encouraged customers to be on the lookout for tips on how to access these quick loans.

Customer Service Week is an annual international celebration that highlights the significance of customer service and the importance of those who provide the service.

The celebration will run from Monday, October 2, 2023, to Friday, October 6, 2023. This year’s celebration is themed ‘Team Service’, which seeks to remind service providers that they are all on the same team irrespective of their job titles.

Pearl Nkrumah referred to customers are their ‘Youniverse’ because without their clients they do not exist.

She revealed that the bank has been working to introduce solutions that will bring banking closer to its clients. 

She disclosed that the bank will soon announce its mortgage product, credit card as well as other solutions to make banking easier for customers.

According to her, Access Bank’s agency banking is not only turning local shops into bank delivery spots, but also creating employment for people in the communities.

She also said that Access Bank has deliberately partnered with ride sharing companies like Uber to make it more affordable for Ghanaian to commute from home to work or go about their social activities.

She added that the bank has partnered with vehicle assembling companies in Ghana such as Volkswagen and Toyota and partnered with Alliance Insurance to provide discounts to customers to make car ownership and protection easy.

Pearl Nkrumah also noted that Access Bank remains dedicated to supporting Small and Medium Enterprises (SMEs) in the country.

“Currently, we have been able to impact about 170,000 SMEs through capacity building, financing, access to markets as well as ensuing that every business is ready,” she said.

A part of efforts to promote SMEs, Pearl Nkrumah also stated that the bank is also working to ensure that women owned businesses increase in the country.

“We are dedicating over a million in prices to continue to enhance our Womenpreneur Pitch-a-ton, which ensures that we are creating more women business. We are taking women businesses from the idea stage to the incubation and to the accelerator point, to enhance women businesses in the country,” she said.

On his part, Executive Director for Wholesale Banking, James Bruce added that the bank is working to improve customer confidence and trust following the recent banking sector crises.

He said that the bank has been engaging its customers through its SME clinics to advise them on strategies they can take to make their economic journey easier.

“We are communicating solutions and value add in this period. Especially for SMEs, who are the bedrock of the economy. We recently signed a partnership with Deloitte to add on our bench stream to support these SMEs, as they go through this period both high interest rates and also inflation, so that we come out with them stronger and prepared to take money from us.”

James Bruce added that the bank has also formed partnerships to enable it to lend to customers at a lower risk, especially due to the increase in Non-Performing Loans (NPLs) in the country.

“As a bank, we’ve been very cautious in terms of where our NPLs are. We are around the level of 2.9%, which is far beyond industry. We also have a very moderate risk appetite so inasmuch as we extend credit, also find ways to mitigate it such that the customer continues to be in business,” he said.