• Sunday, March 03, 2024
businessday logo

BusinessDay

Eyowo: Paving a path to better banking

Eyowo: Paving a path to better banking

Before the advent of “money”, as we know it, human beings bartered goods and services as a means of exchanging value. Then money came: a physical medium of exchange that made trading more efficient and a representation of society’s perception of worth.

Today, money plays a crucial role in the life of every individual. Access to it determines access to necessities, like shelter and clothing, and essentials for growth, like education. As such, money itself has become an essential, so interwoven with the human experience that we must interact with it every day.

As we age and grow through society, our perception of money inevitably changes, gradually influenced by our unique experiences. A teenager might see money as only something to be spent, but an older person may further understand its capabilities as a store of value and its potential to build legacies. However, one truth for everyone, regardless of age, sex, gender, religion or class, is that money is an enabler. Because of this, we entrust our money to banks and other financial institutions for safekeeping. But what if your bank could go beyond just keeping your money safe and actually help you build a better relationship with your money?

A Bank For Everyone

Today in Nigeria, there are a lot of innovations around financial services such as faster payments, mobile money services, and wealth management.

While all of these things are essential, they all presuppose one thing: the customer understands their money and life and is only looking for an account to own, a place to save, a place to invest, a place to pay, and a place to borrow.

At Eyowo, we believe that in today’s world, banking should mean more to people and do more for them. When people can fully understand money and their ways around it, they can begin to improve their relationship with it and regain control of it.

But before learning to be better with money, people must first have access to financial services. Eyowo is built on an innovative, inclusive technology that anchors your bank on your phone number. This means that, through Eyowo, approximately 191 million Nigerians who have access to mobile phones can now access banking services.

A Bank For More

There are three things people typically want to do with money. We want to earn it, spend it and grow it. At Eyowo, we believe that a bank should enable you to do these things with ease. To back this, we offer a variety of intuitive features, modelled after your daily life, to enable you to achieve your financial goals with ease.

Read also: Banking sector and new tax regime

Firstly, we incorporated a safe which is designed to keep the money you’ve set aside to achieve your goals safe until the time comes when you need it. It also enables your money to make money for you. Our users can earn up to 13% interest annual interest on saved funds. Whether it’s your child’s school fees, a dream vacation or a building project, you can create several safes for different dreams with Eyowo and build a savings habit that is in line with your financial realities.

Money has a peculiar language and, to build a better relationship with it, you must understand this language. We designed trails and insights to help you do just that. With these, you can track your spending habits and know how your money moves, which will enable you to make better-informed financial decisions.

Money is not static; it is constantly moving and, sometimes, this gets the better of us. We understand this and so we designed controls, a feature that gives you the power to determine how your money moves and how to restrict it from moving. With controls, you can set spending limits for various categories and receive notifications when you’re about to exceed them.

We recognise that the advent of technology has brought about several e-solutions to everyday financial problems. However, these solutions are mostly fragmented in different applications. Eyowo solves this fragmentation by combining everything you want to do with your money, in one place. With Eyowo, you can save, spend, request payments, pay your bills and buy airtime and data, all in one application. No matter what you need to do, Eyowo is the one bank for everything money.

A Bank For Growth

In his recent article, titled The New Meaning Of Money, CEO of Eyowo, Seindemi Olobayo said “For individuals to experience sustainable financial growth, they require the right knowledge and access to intuitive tools that will enable them to understand the fundamentals of money and how to take control of it… Everyone can be better with money and this is why we built Eyowo.”

In this line, the bank has commenced brand partnerships with individuals who represent the growing and thriving everyday Nigerians to drive campaigns that will help a wider audience attain financial independence with Eyowo. The first of these partnerships was announced today, in a video released by the brand featuring young lifestyle celebrity and all new brand partner, Angel Smith.

Speaking on the thinking behind the partnership, Growth Marketing Manager for Eyowo, Nimide Fala, says “Angel represents an ideal Eyowo user who is on a journey to attain the fullest potential of their financial life, gain and stay in control of their money as well as make it work for them. We sought someone with an unrelenting desire to do and be better in their corner of the world, and we could not be more delighted to welcome Angel to the Eyowo family.”

A Bank You Can Bank On

The user interface of the digital bank and its customer services have all been redesigned to redefine the banking experience for Nigerians. More than banking, Eyowo is partnering with users to help them achieve growth. The bank also has a PCI-DSS Level 1 certification and is insured by the NDIC.

“No matter the size of your ambition, we believe in the validity of your dreams. We believe you can bank on them to build a better future. So we invite you to partner with us today.” -Seindemi Olobayo, CEO Eyowo

To learn more about Eyowo and its partnership with Angel, visit www.eyowo.com .