About Piggyvest
PiggyVest’s mission to give everyone the power to better manage & grow their finances is very important in a country where millions of adults are financially underserved and excluded. By revolutionizing savings and investments, the company has successfully been empowering millions of customers to conveniently save and invest billions monthly with a few clicks. PiggyVest was and is still a great solution that needed to reach more people across the country.
The Challenge
To achieve its goal of expanding its customer base and promoting financial inclusion, PiggyVest needed a payment solution that is safe, secure and assists them in reaching their goal in a record time. Such a solution must offer payment methods–international or local and channels that resonate with a wider audience in PiggyVest’s key markets. All these are necessary without compromising the company’s ability to facilitate a seamless and user-friendly experience for its customers.
The Solution
Here comes Flutterwave’s Fintech as a Service. FaaS is a ground-breaking solution that demonstrates Flutterwave’s commitment to supporting startups of all sizes to bring their fintech solutions to a wider audience in record time. This is achieved without sacrificing security features and the capacity to appropriately customize and fully brand their products. Since this aligns with PiggyVest’s objectives, they opted for it in 2019. And as we will see shortly, the rest is more customers for West Africa’s first online “Savings & Investment” app.
Promise Kept
Leveraging “Pay by Bank Transfer,” one of the most popular and trusted payment methods in Nigeria available on Flutterwave, PiggyVest witnessed a more than 53% spike in savings and investments between 2021 and 2022. This is because of many factors, including the opportunity for hundreds of thousands of users to use a payment method they were familiar with and already trusted to deposit their money. We are glad we could provide Piggyvest with the solution and customization needed to help millions of Africans manage their finances seamlessly and securely.
Good to Know
“Pay with Bank Transfer” on Flutterwave recently got a boost through our partnership with Token.io–Europe’s leading account-to-account (A2A) payment infrastructure provider, A2A is the industry name for “Pay with Bank” Transfer. This collaboration gives the 1,000,000 businesses on Flutterwave enhanced access to UK and EU customers.
Testimonial
PiggyVest’s Ibukun Akinola, Customer Finance Lead, said, “At PiggyVest, we’ve been democratizing and revolutionizing Savings and investments for millions of people and needed to reach more people who are financially underserved. Using Flutterwave’s “Pay by Bank” transfer was a game-changer that we really needed. It skyrocketed the trust level for our solution because the method resonated well with our target customers, and in a matter of months, we witnessed a very significant increase in transactions.”
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Product Use
Leveraging “Pay by Bank Transfer,” one of the most popular and trusted payment methods in Nigeria available on Flutterwave, PiggyVest witnessed a more than 53% spike in savings and investments between 2021 and 2022.