By Babajide Komolafe
Branch international, a digital bank, has assured investors of 20 per cent annual returns on investment made through its Branch digital app, and free unlimited transfers as well as instant loans.
Managing Director/Chief Executive of Branch Nigeria, Adedayo Ademola, disclosed this during a virtual press conference where she announced the transformation of Branch to a full financial service digital bank.
The company’s Branch app already has over 20 million downloads across Nigeria, Kenya, Tanzania and India.
Explaining the rationale behind the transformation of the company, Adedamola said the quest to make formal financial services accessible at an affordable rate to individuals and businesses is critical in systematically driving economic development.
She added that that is why Branch’s unique range of offerings are designed to offer value to customers whilst enabling them to make payments and granting access to loans and investment opportunities.
The company products she explained include: free and unlimited money transfers and free bills payment and airtime purchase; a 20% annual investment returns without any withdrawal restrictions; and instant loans up to ¦ 500,000 in minutes with no paperwork or collaterals required and no late charges.
She stressed that investments made through the Branch app are channeled into low-risk financial instruments with capital preservation as the ultimate goal.
She 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”.
Highlighting the antecedents and achievements of the company, she said: “In the past three years of its operations in Nigeria, Branch has processed over N40 million in over three million loan transactions and remains one of the most downloaded financial apps in Africa.