This Nigerian microfinance bank’s slow-lending strategy is delivering fast results

Speed is a competitive advantage in Nigeria’s $2.1 billion digital lending market. Fintech lenders promise approvals in minutes, using automation to move borrowers from application to disbursement with as little friction as possible. However, Nombank, the microfinance banking subsidiary of Nigerian fintech Nomba, has taken a different approach after securing its licence in December 2024.