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Fintech gets more interesting in Nigeria as Cowrywise introduces Cowrywise Stash



The average Nigerian would typically look for a banking service which demands little or no stress, little or no charges, offer options to increase his money and, if possible, one which can be done from the comfort of the home.

The inventions of Fintechs focused on payments and investments have only done little to address these needs, but it seems Cowrywise has made a more innovative move with its unveiling of the Cowrywise Stash.

According to the report given by the Cowrywise team, Cowrywise Stash basically solves a problem which limits the investment opportunity of the ordinary man.

Cowrywise Stash offers multiple ways of funding the different investment plans Cowrywise already offers. Where it initially offered the easiest funding option to be through card transactions, it now offers direct funding from banks.

It also allows transfers at reduced transaction costs. Usually, between different banks, the transaction costs about NGN52.50, but Cowrywise Stash slashes this amount by about 52%, reducing it to NGN25, also offering opportunities for users to further reduce the reduced costs by improving their saving culture.Another great feature of Cowrywise Stash is that it allows free transfers between Cowrywise users.

This will be an added advantage which could make users act as brand ambassadors, encouraging their friends and family to become users of Cowrywise too.The above-listed features of the Cowrywise Stash operate through an account number assigned by Cowrywise to its users. This account number serves as an address for the transfer and receipt of funds.

The banking sector is one of the major sectors at the receiving end of innovative disruptions, but, amidst the many innovations, there remains to be an innovation in this industry which does not depend on the traditional banks in some way.

Such mind-blowing innovation might just be the one which will totally change the face of banking in Nigeria.

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@TechEconomyNG connects past-present-emerging technological impacts on Businesses, People and Cities. All Correspondence to: [email protected]

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