Fintech launches app to address economic challenges

Nigerian fintech outfit, Branch, has announced free money transfers and 20 per cent per annum investment returns to address the biting economic challenges in the country.

It noted that the new offerings complement instant loans up to N500, 000, free bill pay, airtime top-ups and other existing services on the app.

Managing Director of the lending app, Dayo Ademola, said, “Taken together, customers can now enjoy a single app to manage their money with unmatched value.

“Finding the best deal when it comes to your money can be overwhelming. We have made it simple. Compare our 20 per cent returns and free money transfers to see how Branch is better.

“Branch’s unlimited free transfers to recipient bank accounts have no hidden fees or restrictions. Most financial apps today charge a transfer fee or cap the number of free transfers.”

According to him, unlike other investment platforms where funds are locked for a fixed period, customers can withdraw their investments after 24 hours.

“Branch’s 20 per cent per annum return is paid weekly. Our services forfeit its commissions to customers to provide returns that are amongst Nigeria’s highest,” he said.

He added that investments through the Branch app are channeled into low-risk financial instruments with capital preservation as the ultimate goal.

“To further encourage new customer trials, Branch is offering a limited time additional incentive: for each deposit of N300 or more using the wallet, customers receive a N50 bonus – up to N6, 000 in bonuses per year.”

Branch is licensed by the Central Bank of Nigeria as a Finance Company and authorised to provide services such as credit and fund management.

Ademola added: “Over 23 million people have installed Branch’s app with a 4.4-star rating by over 300,000 reviews on Google Play. Branch is backed by some of the world’s biggest investors, including Andreessen Horowitz (early backers of Facebook and Twitter) and Visa.

Since 2018, Branch provided over 3 million loans to Nigerians and is now expanding to offer 20 per cent investments and free money transfers.