Nedbank partners with JUMO to pioneer AI-powered credit ecosystem for South Africa
This groundbreaking collaboration blends traditional banking strength with fintech intelligence to unlock transparent, flexible credit at scale.
In a move that signals a new chapter for South Africa’s financial services sector, Nedbank has entered into a partnership with AI-powered banking technology company JUMO to unlock a next-generation digital credit ecosystem.
The collaboration brings together the balance sheet strength, brand trust and lending expertise of one of Africa’s largest financial services groups with JUMO’s real-time lending infrastructure and technical banking services backed by their custom-built AI prediction engine. Together Nedbank and JUMO will create a powerful model for delivering flexible, transparent credit at a scale not previously possible in South Africa.
At a time when many South Africans face rising living costs, income volatility and unexpected financial pressures, access to fast, short-term funding for emergency or momentary needs has become increasingly critical. Yet traditional credit models often remain slow, documentation-heavy and inaccessible to many.
This partnership is designed to change that.
“We are excited to launch Nedbank Quick Loans, designed with our clients’ need for speed, convenience and flexibility in mind. In just 5 minutes, clients can apply on the Nedbank Money App, and have funds paid into their account, helping them access cash when they need it most. The loan amounts start from R500, and repayment terms from as short as one month, offering clients the control and flexibility to choose what works best for them,” says Mutsa Chironga, Managing Executive for Personal Banking at Nedbank. “By embedding JUMO’s AI-led, proprietary models and processes into Nedbank’s Money App, we’re enabling a quick and easy client experience. It is a great solution for smaller and short-term borrowing needs clients have.”
More than just product innovation, the partnership represents a structural shift in how ordinary South Africans borrow.
“I’m excited for what is unfolding through our partnership with Nedbank. JUMO’s banking technology empowers inclusive, intelligent finance and our focus with Nedbank will be on building an enabling and sustainable ecosystem together,” says JUMO’s CEO, Paul Whelpton.
JUMO’s technology allows for credit decisions in seconds and caters for customers with limited bureau profiles, while maintaining rigorous governance and customer protection standards. This infrastructure enables sustainable unsecured lending to an addressable market exceeding 20 million South Africans typically underserved by loan providers today.
Importantly, the product design reflects a commitment to responsible and transparent lending. Loan terms are simple and easy to understand, with loans from 1-12 months aligned to customer needs. Interest rates are competitive and the product launches without any monthly service fees or bundled insurance as is the case with traditional personal loans.
The result is a high-impact customer value proposition: flexible credit, available on demand, with speed, transparency and simplicity at its core.
The collaboration also reinforces South Africa’s growing role as a hub for fintech innovation on the continent. By combining established banking infrastructure with cutting-edge AI technology, the Nedbank–JUMO partnership demonstrates how traditional financial institutions and fintech companies can work together to broaden financial inclusion while strengthening risk management and capital efficiency.
JUMO has been recognised globally for its ethical lending practices, achieving a 92.2% score in the independent Cerise + SPTF Customer Protection Certification process — one of the highest ratings in the industry.
As financial services continue to evolve, the partnership sets out a blueprint for how banks and fintech innovators can collaborate to address real-world economic pressures with intelligent, scalable and responsible solutions.
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 and is operational 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.
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.