Michael Adegbite Unveils SquadSave: Digital Savings Platform Using AI to Empower Underbanked Nigerians
In a bold push to democratize access to financial services, Michael Adegbite, a Nigerian fintech innovator based in the United States, has unveiled SquadSave—an intelligent, AI-driven digital savings platform aimed at helping underserved individuals manage and grow their finances through culturally intuitive tools.
Speaking in a recent interview with the News Agency of Nigeria (NAN), Adegbite described SquadSave as a financial inclusion engine rooted in the communal principles of Rotating Savings and Credit Associations (ROSCAs), a method widely practiced across informal economies.
“SquadSave is designed to support users who lack formal credit history or consistent income. We use adaptive algorithms to personalise savings and optimize financial decision-making,” Adegbite explained.
Tech-Driven Savings for the Informal Economy
At its core, SquadSave is a blend of fintech innovation and local financial behavior. The app uses machine learning models to adjust for irregular income flows, limited documentation, and constrained access to formal banking—realities that define the lives of millions in Nigeria’s informal sector and beyond.
“Our system can adapt to cash-based lifestyles and cultural saving patterns. This means users who are new to digital banking won’t feel alienated by the technology,” Adegbite said.
The platform allows users to form savings “squads,” track contributions, receive scheduled payouts, and get actionable insights on how to optimize their personal finances—all in real time.
Bridging the Digital Divide with Culturally Relevant Finance
Adegbite’s journey into inclusive finance began with academic research into bank lending and credit management in Nigeria, where he uncovered systemic gaps in how traditional institutions serve informal entrepreneurs and unbanked citizens.
That research now informs his professional mission: to bridge the digital finance gap by deploying accessible, culturally relevant solutions that empower communities historically left behind by conventional banking models.
“We believe financial tools must be as diverse as the people they serve. That means prioritizing design simplicity, trust, and relevance,” he noted.
A Global Vision Rooted in Local Realities
With ongoing pilot projects across Africa, North America, and emerging efforts in Latin America, SquadSave is part of a broader strategy to build inclusive financial ecosystems through ethical technology. Adegbite is also a vocal advocate for algorithmic fairness, data transparency, and responsible AI deployment in consumer finance.
He has participated in global fintech forums, championing safeguards against algorithmic bias and pushing for digital tools that promote equity rather than entrench inequality.
BRANDECONOMY’s Insight:
Michael Adegbite’s SquadSave represents a significant step in human-centered fintech, where innovation meets inclusion. As millions across Africa still operate outside the formal financial system, digital savings platforms like SquadSave offer a bridge—not just to capital, but to confidence, security, and economic identity. For Nigeria, where over 40 million MSMEs and countless individuals operate in the informal economy, the rise of accessible, AI-powered solutions signals a promising shift in the financial landscape.
