Moneybag.ng, an online savings platform recently launched in the Nigerian market. The financial product was launched at D’Podium International Event Centre, Ikeja in Lagos on the 8th of July 2019. At the official launch, the brand unveiled Lolu of Big Brother Fame as their Ambassador. Omololu Somuyiwa who is popularly known as “Lolu” was one of the 2018 edition Big Brother Nigeria contestants.
Moneybag.ng is an online saving platform which was created by Nuture Technology Services Limited. Nuture Technology Services Limited is an indigenous technology firm based in Lagos. The financial platform has been described as simple, fast, convenient and transparent. It can be used by anyone regardless of age or profession. Moneybag.ng has great features like savings, investments (“Baglocker” which helps you lock away funds for a set period with 9-13.5% per annum interest) and loans. The product has a lifestyle feature known as “Cliquebag” designed to help friends save together.
Moneybag.ng was created to add value to the savings culture of Nigerian society. They observed that many Nigerians find it difficult to save and the product was created to solve that problem. Moneybag.ng partnered with some giants of the financial sector towards ensuring a full integration for Moneybag.ng across the various financial services. Some of the partners include Interswitch, GTbank, First Bank’s FBN General Insurance, Moneyline, Primera Micro-Finance and others. The product is available on the Google Play Store.
Nuture Technology Speaks on the Moneybag.ng App
The tech company’s Chief Executive Officer Mr Uchenna Okezie spoke about the app. He stated that saving is an activity that is crucial to the financial independence of any individual. Okezie explained that with the app, they have created a customised savings solution that is flexible for everyday use and transparent for comprehension. Speaking on creating the app, Okezie explained that they focused on a user experience that was easy to understand and interact with the needs of their customers. He explained that they infused lifestyle, investments and discipline in saving to help get customers interacting with the product.