By Cynthia Alo
An investment mobile application (app), I-Invest, which allows users to purchase Treasury Bills (T-Bills) directly from their smart phones, has recorded more than 70,000 downloads on Apple App Store and Google Play Store in less than 10 months of its entry into the market.
The app, developed by a Pan-African inter-brokerage services firm, Parthian Partners in partnership with Sterling Bank Plc, is supported on both Android and iOS platforms and aimed at encouraging users to build a savings and investment culture.
According to a report issued by the firms, the app is for all investors regardless of status or category.
The report stated: “The app, known as I-Invest, was swiftly embraced by investors who had been yearning for a fast and convenient means to access investment products in a secure manner using technology. It provides equal opportunities for working-class or retiring people and pensioners as well as experienced and institutional investors to save money and improve their money market portfolios through T-bills. It provides access to an array of T-bill investments that assists investors to match their investment maturities to their need.”
Commenting on the development, I-invest app user, Mr. Remi Oduntan, said, “I have been conducting most, if not all, of my banking transactions through the app that I downloaded on my android phone many years ago. The only reason why I still visit the banking hall occasionally is in respect of my investments in treasury bills.
“You can, therefore, imagine my surprise upon learning that I can also engage in my favourite form of investment in treasury bills from the convenience of my home or from anywhere else as soon as the app is downloaded on my smartphone. So, with the i-invest app, I guess visits to the banking hall by me will now be nearly non-existent except for the purpose of renewing debit cards.”