About a year ago, OjirehPrime went live. In that time, the number of new customers and transactions on the digital banking platform, whose savings accounts are powered by Solid Alliance Microfinance Bank, has gone up significantly. The rate at which people use its savings features called Boxes is a big reason why OjirehPrime is growing. The idea behind Boxes was inspired by the traditional “kolo”, and the entire model was designed based on the personal experiences and problems people faced when trying to save with their traditional kolo.
According to the digital bank, customers are using this feature more and more, so they decided to improve it in the latest update. They have now added two more savings products, making the total number of savings boxes on the app four. Interest rates range from 22%pa to 12%pa, depending on the type of savings box and how long customers save. In this update, OjirehPrime has changed its onboarding process by establishing an important partnership with Onfido, the digital identity company. This will give the fintech company a much stronger and more secure onboarding process. Other features of this update include a new bill payment product, a personalized customer service system, a salary advance product, and the ability for users to now pull transaction receipts.
During a recent cash crunch in Nigeria, OjirehPrime kept her promise of providing free, fast, and seamless transfers with no known record of failed transactions, resulting in an increase in fintech’s customer base. These new features will improve the experience of existing users and attract new accounts. Existing users simply have to update their app from the appropriate store while new users can download OjirehPrime on the Google Play Store here and on the iOS store here.
