Stanbic Bank Botswana has announced the launch of Toro Loan, a digital lending solution which allows personal clients to accept and receive instantaneous disbursements for pre-approved unsecured loans on their internet banking profiles.
According to the bank, digital lending works the same way as a traditional lending approach, but with more convenience. Existing Clients of Stanbic Bank with active salary accounts have access to the Toro Loan offer and they can decide if they want to proceed. By selecting their preferred amount within the pre-approved limit range, costs will be calculated, and Ts & Cs shared for signing with a One Time Password (OTP).
Funds are then disbursed into their account immediately. Stanbic claims that digital lending is safe and secure to use as it benefits from the Bank’s investment into state-of-the-art security and privacy protocols and standards.
Speaking on the launch, Stanbic Bank Botswana Head of Consumer and High Net Worth Clients and Acting Head of Business and Commercial Banking, Ms Portia Motshegare said, “Economies and indeed financial services sectors continue to evolve in today’s rapidly changing environment. We will not be left behind, for we continue to innovate for progress and to drive Botswana’s growth, focusing on the customer need and experience, rather than simply developing products. Regular engagement with our customers has revealed more insight into their needs, wants, hopes and aspirations. We are here to work to make those hopes and dreams a reality through innovation and relevance. As we like to say at Stanbic Bank, IT CAN BE.”