Peter Adah, the managing director/CEO of Wages Finance, has said that the end-to-end automation was crucial for cooperative societies to enhance efficiency, productivity and members’ satisfaction.
According to him, end-to-end automation will help cooperative societies to improve members’ engagement and also reduce operational costs.
He said that a fully automated cooperative society will be able to produce real-time reporting and analytics to serve its society better.
Adah said further that the digital corporative society offers periodic investment opportunities to help members earn from their investments, and boost savings culture.
“Wages Finance enhance economic opportunities for marginalised groups especially women and youth with focus on rural communities,” Adah said during the recent virtual launch of its new app and Money mastery summit, tagged ‘Prosperity Unlocked’.
According to him, the new app will help members assess investment risks and suitability, by providing resources and tutorials on safe investment practices for members.
He said further that members also have the privilege to monitor their investments in real-time via the new app.
“We currently operate with Save Haven microfinance bank as our custodian financial partner registered with the corporate affairs commission, and the state government,” he said.
Speaking on what Wages Finance is contributing to bridge financial institutions in Nigeria, Adah said, “We educate our members on basic financial management, budgeting and investment.”
According to him, Wages Finance offer small loans to entrepreneurs, farmers and small business owners to bridge financial inclusion.
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