FirstBank, Pointek partner to boost digital inclusion via financing

FirstBank Nigeria and retail giant Pointek have joined forces to launch FirstEASE, a pioneering buy-now-pay-later financial service. The initiative aims to increase access to essential mobile devices, electronic gadgets, and home appliances across Nigeria, thereby promoting digital inclusion. During the launch event in Lagos, FirstBank's Group Head of E-Business and Retail Products, Abdenego Ugwueke, explained that the partnership addresses the financial strain customers face when purchasing modern smart devices required in today’s digital landscape.

Ugwueke noted that in an era of abundant online information, individuals need intelligent devices to access that information, leading to higher costs associated with the purchase of such devices. He emphasized that FirstEASE offers flexible installment plans while maintaining full transparency for consumers seeking financing for tech equipment and household appliances from Pointek outlets.

FirstBank's Head of Personal Banking, Chukwuka Okonkwo, highlighted the product's competitive advantage, stating that it utilizes artificial intelligence and machine learning algorithms to assess customer eligibility, allowing repayment over six months at a low interest rate of 3%. Okonkwo added that the solution enables seamless purchases of phones, laptops, and electronic equipment from Pointek, with the lowest interest rate available in Nigeria.