Lagos, Nigeria – 22-04-24
BucksTrybe, a FinTech company, is proud to announce the launch of its groundbreaking Ajo and Communal Savings features. These features are tools to build creditworthiness and history via the BucksTrybe’s alternative credit scoring system, Contribution Score.
The BucksTrybe app simplifies the setup and management of rotational savings and credit schemes (Ajo) by providing users with a user-friendly interface and functionality similar to a WhatsApp group. Users can effortlessly create Ajo group(s), assign slots, contribute, and manage their Ajo. The app tracks users’ payments and generates a score to reflect their contribution behaviour. This score is an alternative credit rating system, showcasing users’ credibility, loan repayment behaviour, and credit history. Ajo payouts are recorded as non-interest loans and contributions as repayment. Leveraging technology, BucksTrybe empowers users to manage their Ajo, maintain a record of their contributions, and demonstrate their creditworthiness in a neutral and secure system.
Also, its Communal Savings feature enables communities, associations, and societies to create a shared savings account, pooling their financial resources towards common goals. This feature caters to registered and unregistered associations and clubs dedicated to financially empowering members for personal and collective goals. Its Mandate feature ensures transparency by allowing members to vote for two representatives each who can initiate and approve withdrawals. With real-time transaction alerts, zero current account maintenance fees, and contribution links to make payments outside the app, the Communal Savings feature eases group savings.
“At BucksTrybe, we believe in the power of collective savings to transform communities and drive financial inclusion while eradicating the monopoly of funds that comes with group savings,” said Tope Akande, CEO at BucksTrybe. “Our Communal Plan and Ajo feature leverage technology to make group savings more accessible, transparent, secured, and rewarding for everyone involved.”
BucksTrybe’s unwavering commitment to innovation and financial empowerment is unparalleled. By offering user-friendly features and robust security measures, BucksTrybe continues to inspire and motivate individuals and communities to achieve their financial goals.
For more information about BucksTrybe and its Communal Savings and Ajo Feature, visit www.buckstrybe.com
About BucksTrybe:
BucksTrybe is a financial technology organisation in Nigeria dedicated to revolutionising group savings. Focusing on accessibility, transparency, and innovation, BucksTrybe empowers individuals and communities to achieve financial opportunities.
