Microplan launches digital loan application platform
FBC Holdings Limited subsidiary, Microplan has launched a new mobile application that enables clients to digitally apply for a new loan or top-up existing loans without visiting a physical branch.
Accessible through free downloading on Google Play Store, the new product – Microplan App aims to promote financial inclusion by enabling convenient access to micro and salary-based loans.
A wide range of clients, including Government pensioners, civil servants, uniformed forces and university staff members can conveniently apply for salary-based loans using the digital platform.
Commenting on the new development, FBC Holdings head of investor relations and communications, Ms Priscilla Sadomba said the new mobile app represented a significant milestone in the Microplan digital journey, as it provides customers with a more seamless and convenient experience.
The app is expected to revolutionise the way customers access personal loan services.
“The FBC group is pursuing a digital transformation strategic thrust that is anchored on driving simplicity for our valued clients in line with the group’s new mission statement, which aspires to deliver a unique customer experience through value-adding relationships, simplified processes and relevant technologies,” she said.
“In this regard, we are pleased to launch the digital lending service which allows customers to apply for Microplan Loans conveniently, without the hassle of completing physical application forms or visiting a physical branch.
“Our valued clients can conveniently apply for a loan amount of up to six times their net salary, with a maximum tenure of 24 months, using the digital platform.
The new Microplan Mobile App has been zero-rated in our quest to lower the cost of serving customers,” she added.
She further explained that zero-rating allows clients to apply for loans via the Microplan App without using mobile data or WiFi connection at any 24/7. However, the zero-rating service is currently available to Econet subscribers only and is expected to be extended to Netone and Telecel subscribers in due course.
“Clients will, however, need data to download the FBC Applications but once installed, no data will be required to transact on the platforms,” she said.
Microplan Financial Services (Private) Limited is a wholly-owned subsidiary of the FBC Holdings Group. The unit commenced operations in 2011 as a Strategic Business Unit (SBU) of FBC Bank before becoming a standalone outfit. Over the years, Microplan withstood the test of time and established itself as the top credit-only micro Financing institution, in a very competitive sector.-herald
