CIBC FirstCaribbean launches 10-minute loans

According to Mark St Hill, managing director of retail and commercial banking at CIBC FirstCaribbean International Bank, ten-minute loans are now available.

St Hill made the remarks during a virtual regional press conference held by the lender on Wednesday, describing the new effort as the “latest cutting-edge technology-driven automated lending tool.”

“We have harnessed the very best in technology accessing significant data across our bank providing access to loans in ten minutes. Whether it is a personal loan or auto loan, a credit card and by the way that ten minutes includes approval and crediting your account with the funds,” St Hill said.

According to St Hill, the method can provide customers with peace of mind in the midst of difficult financial situations.

CIBC First Caribbean’s CEO Colette Delaney said the bank is dedicated to serving the region. He also indicated that the bank is positioning itself as a ”truly agile bank, reshaping how we engage with our employees and our clients to respond to their changing needs.”