Spendify Technologies, the developers of a new Mobile App codenamed “OLA”, say it is key to the attainment of Sustainable Development Goals (SDG) in Nigeria and Africa as a whole.
Mr Philip Etim, the founder of Spendify Technologies, who created the App, made the disclosure to newsmen in Lokoja on Saturday.
He said meeting the SDGs was very imperative to the nation’s development.
He said that “OLA App is a financial inclusion that would address crises arising from limited access to financial services and general financial exclusion crisis in Nigeria and Sub-Saharan Africa.
Etim described financial inclusion as a crucial enabler for the attainment of many of the goals in the 2030 Sustainable Development Goals (SDGs).
He explained that the new features on the Spendify Mobile App reduced the gap by ensuring better money management for all, through educating users on financial literacy.
“Available data show approximately 66% of sub-Saharan Africans are considered underserved and have limited access to financial services.”
“This situation has exacerbated poverty, hampered personal financial management and hindered economic growth at large and on the short and long run.
“The application features a chat-based platform, budget manager, in-built financial educator and an Artificial Intelligence (AI) tool that detects spending trends and alerts users on deviations from their budget.
“In this current state of high inflation and high cost of living, the use of spendify mobile applications on ones phone, be it Android, iOS and Web, one can easily budget, track expenses and income.
“You can also get reminders on outstanding bills or debts and get real-time reports by simply asking to OLA”, he said.
According to him, the app offers much more than just expense tracking as it enables users to change their financial habits, monitor their financial status, personalised advice, and receive financial tips and performance reports to aid their journey towards financial stability.
Friday Ameh Onuche, co-founder and Chief Technical Officer (CTO) of the company, said the AI was being used to bridge significant disparities in the field of personal finance.
“This innovative approach sets Spendify apart as the first Fintech organization to offer such comprehensive capabilities,” he said.
