As part of its expansion efforts, Nigerian fintech company, Cashir has announced a further enhancement of the safety features on its app to bolster the confidence of users in the country.
The Chief Executive Officer of Cashir, Wole Ademola Adewole disclosed this during an interview with a cross section of the media in Lagos.
According to him, the app, which won the Microsoft for Startup Founder’s Award, has been fortified lately to ensure that users not only enjoy seamless transactions for daily financial needs but are equally protected while doing so.
“Safely is a priority for us at Cashir. As such, we conduct an integrated know your customers (KYC) process for all registered users on our platform and this helps us rate users based on a pre-determined confidence level which we use to monitor user activities. In addition, we have thresholds for maximum transaction volume users can perform depending on their KYC classification. Furthermore, we are always innovating and rethinking how we make sure our systems are fraud-free and safe,” he said.
Emphasising that the company is determined to ensure financial freedom in West Africa and beyond, Adewole revealed that a clear roadmap to grow its user base to over 500,000 in 24 months has been developed as well as expand to other African countries, starting in West Africa.
“In five years, we expect to have achieved a unicorn status of one billion valuation, which will be evident by our user base growth and transaction volumes. But more importantly, we are on a mission to facilitate one million Africans to become financially banked. The target audience for Cashir App is the adult population between 18 to 50 years who have smartphones. Ideally, our early adopters are people between the ages 18 and 35 years and this is because they are more adventurous and ready to try out new things.”
Founded in 2022 by the trio: Wole Ademola Adewole (Founder and CEO); Adedayo Adewole, Co-founder and Chief Product Officer (CPO) as well as Adeyinka Adewole, Co-founder and Chief Marketing Officer (CMO), Cashir App downloadable from Google Play Store and Apple Store has facilities for users to conduct banking needs from mobile phone with ease at lightening speeds.
