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NTS partners Interswitch, GTBank, FBN Insurance, others to launch Moneybag.ng.

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Stories by Moses Nosike

An indigenous technology firm in Lagos, Nuture Technology Service Limited has launched Moneybag.ng, an online savings platform that brings convenience and transparency to the way people save.

A management source said that the product was described as an innovation and is set to gain popularity among Nigerians based on its expected high uptake.

According to the Chief Executive Officer, Nuture Technology, Mr Uchenna Okezie, saving is an activity that is crucial to the financial independence of any individual and with Moneybag.ng, we have created a customised savings solution that is flexible, useful for everyday and transparent for comprehension.

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“Moneybag.ng is an online financial services platform that can be used by anyone regardless of age or profession with features such as savings, investments (“Baglocker” which helps you lock away funds for a set period with 9-13.5% per annum interest) and loans. It also has a lifestyle feature known as “Cliquebag” designed to help friends save together.

In addition, 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 people found it hard to save and 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.

He said, “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.

Winner of Big Brother Nigeria 2018 Housemate, Omololu Somuyiwa is the brand ambassador of Monybag.ng.

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