Moneybag.ng Partners Interswitch, GTBank, Others

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Mary Nnah 

The recent launch of Moneybag.ng, by Nuture Technology Service Limited, an indigenous technology firm based in Lagos, has signalled the beginning of a process that will bring about another dimension of financial empowerment to Nigerians. 

Moneybag.ng is an online savings platform that brings convenience and transparency to the way people save. 

Also, Nuture Technologies announced a partnership with some firms in the financial sector in ensuring a full integration of its services.

The list of partners includes, Interswitch, GTbank, FBN General Insurance, Moneyline, Primera Micro-Finance and others. 

Speaking during the unveiling, Chief Executive Officer of Nuture Technology, Mr Uchenna Okezie, said, “saving is an activity that is crucial to the financial independence of any individual and with Moneybag.ng,” adding that the product “has created a customised savings solution that is flexible for everyday use and transparent for comprehension”.

Speaking further, Okezie further noted, “a lot of you are already aware of the efforts we have put in over the past 10 months to be able to get to where we are today and be ready to move forward with this exciting new venture. 

“We are all cognisant of the current economic difficulties Nigerians face. That is why right from when we started developing Moneybag.ng, our goal has always been to add value to the savings culture of the Nigerian society as we noticed that a lot of people find it difficult to save money owing to numerous reasons.”

In his remarks, the Chief Operating Officer of the company, Mr. Lanre Fadayomi, made it clear that low inclusivity and limited user-friendly financial service options were identified as the main difficulties why people found it hard to save and that this was a critical motivating factor when Nuture Technology decided to create an easy way people could save regardless of their age, background or qualification.

“Majority of what we do is transaction-based so it required us to be customer centric with the types of savings plans Moneybag.ng offers. We also had to focus on a user experience that was easy to understand and interact with the needs of our customers while looking for ways to help customers better appreciate the product. We then infused lifestyle, investments and discipline in saving to help get customers interacting with the product”, Fadayomi explained.