Fri | Aug 17, 2018

Money in minutes! NCB Rolls Out Digital Lending

Published:Friday | December 8, 2017 | 12:09 AM
Nadeen Matthews, Chief Digital and Marketing Officer of the National Commercial Bank.


Have you ever thought, 'I could use a million dollars right now!' The National Commercial Bank Jamaica Limited (NCB) is working to make that possible.

NCB has introduced an online lending platform that condenses the entire loan application process into a series of simple steps that takes customers less than five minutes to complete.

Customers can choose the amount they want, and have the money disbursed to their NCB account the same day the process is completed. The platform is currently available only to pre-approved customers of the bank.

Developed in the bank's newly formed agile lab, the solution is part of a larger thrust by the 180-year-old organisation to solidify its position as a customer obsessed, agile, innovator.

"This is another opportunity we have seized to bring greater convenience to our customers and deepen that connection by demonstrating that we are listening and are committed to responding to their needs," said Nadeen Matthews, chief digital and marketing officer.

The solution is the second project from NCB's Agile Lab and was developed in less than three months, compared to the traditional development cycle of 18 to 24 months. NCB adopted an agile approach to its software development in April of this year and its Agile Lab is the only one of its kind in the English-speaking Caribbean.

Agile is a set of project management principles characterised by collaboration and responsiveness and is used by international companies like Google and Amazon to significantly reduce time to market for software releases.

This approach is being used by NCB to accelerate its digital transformation and reduce the time for product development.