Nedbank leverages JUMO’s AI and fintech capabilities to expand financial inclusion as South Africans face growing financial needs
Johannesburg – 19 May 2026
Nedbank is making it easier for South Africans to access credit, including those who may have previously struggled to qualify for credit through conventional lending channels, by responding to the growing demand for manageable, short-term borrowing.
As living costs rise, many South Africans are finding it increasingly difficult to build emergency savings, leaving them vulnerable when unexpected expenses arise. Research by Nedbank reveals consumers' growing preference for smaller loan amounts over shorter terms for more manageable borrowing solutions. Consumers also prefer loans that offer speed, simplicity and greater financial control amid ongoing economic pressure.
'The findings show that consumers are approaching debt more cautiously, prioritising shorter repayment periods and borrowing only what they need for essential expenses such as education, emergencies and short-term cash flow pressures,' says Mutsa Chironga, Managing Executive of Personal Banking at Nedbank.
'What we are seeing is a more deliberate and considered approach to borrowing with consumers prioritising smaller, manageable loans without compromising long-term financial stability.'
At the same time, many clients, particularly self-employed individuals and those without traditional proof of income, continue to face barriers when trying to access formal credit through conventional lending models according to Nedbank.
In response to these changing financial realities, Nedbank has launched Nedbank Quick Loans. Nedbank has partnered with JUMO, a fintech with advanced digital and AI capabilities that have already enabled lending to millions across Africa. JUMO's AI-powered platform enables real-time decision-making, seamless digital onboarding and more inclusive access to short-term credit.
JUMO’s fully digital lending solution powered by Artificial Intelligence (AI), is designed to broaden access to short-term credit in a faster, more inclusive and frictionless way.
The launch forms part of the bank's broader digital innovation strategy focused on leveraging intelligent technology to create more responsive, customer-centric financial solutions aligned to the realities South Africans face today.
'Because Quick Loans is powered by JUMO’s AI-enabled capabilities, it is able to assess affordability in real time using alternative financial data and predictive analytics to create a more holistic view of consumer financial behaviour,' adds Chironga. 'This enables faster decision-making while responsibly expanding access to formal credit for consumers who may not always fit traditional lending criteria.'
Nedbank Quick Loans removes much of the friction traditionally associated with accessing credit. Available fully digitally without clients needing to visit a branch, the solution offers loan amounts ranging from R500 to R50 000 without the need to upload documents and offers clients repayment terms between 1 and 12 months. This new solution will be available to Nedbank clients from kick off and will be extended to new clients soon after that. Clients can apply and receive payout within 5 minutes.
The launch of Nedbank Quick Loans reflects a broader evolution in how credit is being designed and delivered in South Africa, which has become increasingly shaped by intelligent digital ecosystems, real-time lending and client-centric innovation.
'Speed today is not simply a product feature but a human need. Whether responding to an emergency expense or a need such as buying uniform or building materials, consumers need access to credit solutions that are fast, transparent and easy to navigate,’ states Chironga. ‘As Nedbank, we believe the future of lending will increasingly depend on intelligent digital ecosystems capable of delivering faster, more relevant and more inclusive financial solutions aligned to the realities consumers face every day,' he concludes.
ENDS.
Note to editors:
Some findings of the Nedbank study include the following:
- Cautious borrowing behaviour − Most respondents prefer loan amounts between R10 000 and R20 000 (31%), with only 23% willing to borrow less than R10 000. This suggests a deliberate approach to borrowing only what is needed rather than overcommitting.
- Shorter loan terms favoured − Most respondents (42%) prefer repayment periods of 6–12 months, indicating a reluctance to take on long-term debt and a preference for loans that can be settled quickly.
- Purpose-driven borrowing − Borrowers use loans for essential needs. Education accounts for 32% of borrowing, while emergency expenses account for 30%. This highlights that borrowers take a responsible approach to debt and prioritise investments in their future and urgent financial needs over discretionary spending.
- Digital and speedy access remain key − While cautious, borrowers still value convenience; 76% of respondents rate fast approval as very important, and 63% say they would use a digital loan application, reinforcing the need for quick and accessible financial solutions.
The respondents' profile of Nedbank's study is a balanced gender mix, with 62% employed full time, 34% aged between 26–34 years, 30% aged between 35–44 years, and 60% earning a gross monthly income between R10 001 and R25 000.
About Nedbank Group:
Nedbank Group is a bank holding company listed on the JSE Limited, with a market capitalisation of R127 billion as at 31 December 2025. Nedbank is one of Africa’s largest banking groups, with operations in South Africa, Namibia, Eswatini, Mozambique, Lesotho and Zimbabwe, and offshore in the Isle of Man and Jersey. It also has representative offices in other Africa countries, including Kenya, and has key global financial centres to provide international banking services for SA-based multinational and high-net-worth clients in London and Dubai. The group is a diversified financial services provider, offering a wide range of wholesale and retail banking and financial services. Nedbank has maintained its level 1 BBBEE status for the past 7 years and rates in the top quartile of local and international banks on ESG scores. group.nedbank.co.za
About JUMO:
JUMO’s technology platform enables banks to offer a new generation of digital credit and savings products to millions of entrepreneurs in Africa. JUMO works with partners, such as banks, e-money operators, and payments providers. The results allow banks to reach more customers, save money and achieve higher returns and greater scale.
Since its founding in 2015, JUMO has enabled the disbursement of over $10 billion worth of loans in Ghana, Kenya, Tanzania, Zambia, Uganda, Côte d’Ivoire, South Africa and Benin. This has resulted in 39 million new customers for the continent’s leading banks.
With unmatched speed to market and low infrastructure costs, JUMO aims to bring banking to everyone, everywhere, at any time.
