FirstBank, Pointek partner to boost digital inclusion via financing

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FirstBank Nigeria has partnered with retail giant Pointek to launch FirstEASE, an innovative buy-now-pay-later financial solution aimed at expanding access to essential mobile devices, electronic gadgets, and home appliances while driving digital inclusion across the country.

Speaking at the launch event recently in Lagos, Group Head, E-Business and Retail Products at FirstBank, Abdenego Ugwueke, explained that the collaboration was designed to address the increasing financial burden customers face when trying to acquire modern smart devices needed in today’s digital era.

“We are living in an information age where information is abundant online, and people need devices that are intelligent to access that information,” Ugwoke said.

“With that comes the requirement for more compute, more memory, more speed of those devices, and that also translates to cost, so it becomes increasingly difficult for people to be able to cough up what is required to buy a device at once”, he added.

He emphasised that FirstEASE provides flexible instalment plans while ensuring full transparency for consumers seeking financing to purchase tech equipment and household appliances from Pointek outlets.

“When you make a decision to access FirstEASE for the purpose of buying Pointek products, you are not blind,” Ugwueke added. “You have information to be able to make the right decision.”

Highlighting the competitive advantage of the product, Head, Personal Banking at FirstBank, Chukwuka Okonkwo, stated that the digital lending solution leverages artificial intelligence and machine learning algorithms to assess customer eligibility, offering repayment spread over six months at a low interest rate.

“We have created a very seamless way for people to purchase phones from Pointek, laptops from Pointek, electronic equipment from Pointek, and pay over six months,” Okonkwo said.

“And well, all Nigerians, tell me who will give you this at 3 per cent? 3 per cent, that is the cheapest, right?”, he added.

Jide, a seasoned journalist with over 12-year experience, reports business-related stories

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