Newborn black holes in collapsing massive stars can be accompanied by a fallback disc. The accretion rate is typically super-Eddington and strong disc outflows are expected. Such outflows could be directly observed in some failed explosions of compact (blue supergiants or Wolf–Rayet stars) progenitors, and may be more common than long-duration gamma-ray bursts. Using an analytical model, we show that the fallback disc outflows produce blue UV-optical transients with a peak bolometric luminosity of ∼ 1042-43 erg s− 1 (peak R-band absolute AB magnitudes of −16 to −18) and an emission duration of ∼ a few to ∼10 d. The spectra are likely dominated intermediate mass elements, but will lack much radioactive nuclei and iron-group elements. The above properties are broadly consistent with some of the rapid blue transients detected by Panoramic Survey Telescope & Rapid Response System and Palomar Transient Factory. This scenario can be distinguished from alternative models using radio observations within a few years after the optical peak.