Sterling Bank

The Central Bank of Nigeria (CBN) wants banks to lend more. This time it’s not just talking. It is compelling them, somewhat. But the new policy it has issued could set the stage for the first real tussle between banks and fintechs.

The lending service was developed by the Lagos-based IT company, BinCom. It is targeted at Nigerian banks and allows them create a community where users can access soft loans based on their social media reputation.

List of Nigerian banks that are providing virtual banking services.