Technology-enabled solutions are increasingly becoming part of everyday life in Nigeria, helped by a combination of a largely young and tech-savvy population, deepening broadband penetration, and widespread mobile connectivity. The Covid-19 pandemic has only further accelerated the transition to digitally-enabled lifestyles with more and more Nigerians adopting technology to live a simpler life.
While this growing digital culture permeates all aspects of life, from the way we work, shop, commute, and even entertain ourselves, financial services in the country are still provided largely via manual processes, and many Nigerians are subject to several restrictions that come with the existing banking system. The spending limits on bank-issued naira-denominated debit cards Nigerians use for dollar payments readily comes to mind. Also, there is a significant number of adults that remain outside of the financial inclusion umbrella due to the limitations of the existing banking system and thus lack access to basic financial services.
The rising digital culture and unmet consumer demand require service providers that understand current trends and can leverage technology to meet the financial inclusion and changing lifestyle needs. One such is Fundall, a Nigeria-based digital banking platform that seeks to solve the accessibility problem while offering users a more convenient full-banking experience compared to traditional banks. Fundall prides itself on helping their users achieve optimal financial well-being.
“We understand that people only want to keep up with 8 to 10 apps on their phone; with social networking and entertainment apps making up more than half of that number. We believe there is a growing desire for one platform to handle all things money and that is what we strive to become by providing individuals and businesses with financial products and services that help them better manage how they spend, manage and grow money.” – Ayomide Ajayi, Growth Lead at Fundall
Officially launched in 2020 with a microfinance banking license from the Central Bank of Nigeria, Fundall is a digital bank that provides wholesome financial products and services to individual Nigerians and businesses through a single platform.
Today, Fundall announces their launch of USD virtual cards to their existing and prospective users. Fundall’s dollar virtual cards aims to eliminate the challenge of spending limits Nigerians come across when making international payments using naira cards. The USD-denominated debit card is a limitless passport to the world as users are able to enjoy freedom and flexibility when making payments in dollars anywhere in the world.
With a Fundall virtual dollar card, users can spend internationally and transact on any website seamlessly as well as enjoy the convenience, flexibility, safety, and security of cashless payments across various channels – whether for shopping online on Shopify or Amazon, paying for streaming access on Netflix, or business services like Facebook Ads.
Fundall users will be able to get their first virtual dollar card for free, while the creation fee for subsequent card creation is just $2. Users are also able to create multiple cards instantly and can easily dedicate each card to one web platform.
Fundall – run by a company of the same name founded in 2019 – is on a mission to provide all things money in one place to their customers. Fundall users can manage everything money-related on its online platform; and unlike most banking services providers that only focus on the money of their clients, Fundall does more to help its growing user base. There are currently 17,000 individuals and 150 businesses registered on Fundall’s online platform right now.
Nigeria’s foremost financial super app offers a wide range of services that include flexible payments and transfers, savings plans, in addition to advanced tools for better money management such as lifestyle cards, budget planning, income and spending analytics, SaveAsYou Spend, Portfolio Line of Credit, and insurance. Fundall ticks all the boxes and does so without hidden charges.
The wholesome bouquet of financial services gives greater freedom, flexibility, control spending habits,fund their lifestyle goals and makes money management effortless—literally putting you in full control of your financial life. . All these can be accessed by opening just one account, instead of having to sign up on multiple platforms, which would raise issues of security risk and/or transaction charges when moving funds from one platform to another.
Fundall’s users are provided with visibility over spending patterns, with a detailed breakdown of payments by category on the transparent and secure platform. A savings tool and wealth builder aimed towards specific goals are included. Users can split bills, make utility payments, as well as send and receive money in the Fundall network and with other local banks. They also enjoy access to Ari – an AI-powered 24/7 financial manager and personal guide that gains insight into your lifestyle and ensures you are on track in managing the money you earn adequately and growing wealth.
Digital-only Fundall is the perfect financial partner to help you learn about, manage and grow money in the modern world. Join the tribe today to access the right tools and enjoy the freedom to achieve what you want.
