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Access Bank Ventures into Standalone Digital Lending with Oxygen X, Receives Central Bank Approval

Access Bank Ventures into Standalone Digital Lending with Oxygen X, Receives Central Bank Approval

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Nigeria's Access Corporation, the parent company of Access Bank, is set to launch Oxygen X, a standalone digital lending subsidiary, expanding its reach beyond traditional banking customers. With approval from the Central Bank, Oxygen X aims to compete with existing digital lenders, serving a broader market of digital-first consumers. This strategic move aligns with Access Corporation's ambitious plans for global expansion and diversification in the fintech space.

Access Corporation, the parent company of Access Bank in Nigeria, is set to launch Oxygen X, a standalone digital lending subsidiary. This move aims to provide digital lending solutions to a wider audience beyond traditional banking customers. With Central Bank approval, Oxygen X will compete with existing digital lenders such as Carbon and OPay. The Quickbucks app, rebranded as Oxygen X, already has 7 million customers, and this standalone lending app allows Access to acquire users without Access Bank accounts. This move signifies Access Corporation's strategic play in the growing digital lending landscape and aligns with its broader plans for global expansion and diversification in the fintech sector.


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