Banking on WhatsApp: Finnova Simplifies Finance for Millions in Nigeria
For many Nigerians, WhatsApp is more than just an app; it’s an integral part of daily life. With a staggering 51 million active users in Nigeria alone, representing over 95% of the online population, WhatsApp’s reach is undeniable. Recognizing this widespread adoption, entrepreneur Julius Oyekanmi has launched Finnova, a startup aiming to revolutionize banking accessibility through the popular messaging platform.
Banking Made Easy Through WhatsApp
Finnova leverages the familiarity and convenience of WhatsApp to provide seamless banking services. Oyekanmi explained to Techpoint Africa that the core idea is to meet users where they already are, bringing banking directly to their preferred communication channel. Through a user-friendly chatbot, Finnova allows users to effortlessly send and receive money, settle bills, and purchase airtime, all without leaving the WhatsApp environment. Furthermore, understanding the importance of trust in financial transactions, Finnova provides escrow services, offering an added layer of security and reliability for businesses. The platform is integrated with a CBN-licensed wallet, giving each user a unique account number.
Finnova is set to transform the financial landscape in Nigeria by leveraging the ubiquitous nature of WhatsApp, offering a convenient and accessible banking solution to millions.
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