How Aigbogun’s experience and finance background helps to sustain CashBox
Chief Executive Officer of CashBox, Sydney Imuetinyan Aigbogun, has disclosed how his background and years of experience in finance encouraged him to set up CashBox.
CashBox is an app which users can easily download on android and iOS, link it to an ATM card, and with which a savings plan is created for a specific amount to be saved at a determined frequency.
Aigbogun has a degree in finance from the University of Lagos and has worked at various times in consumer finance, asset management and foreign exchange sectors of the Nigerian economy.
Speaking during a recent interview, Aigbogun said “my background aided my decision to set up CashBox because it helped me overcome the initial challenges encountered in this business. I have a background in finance and have always been looking for ways to make financial processes smoother and one interesting thing is that CashBox is an everyday and everybody app. It is regularly used by young people as well as the old.
According to Aigbogun, with the aid of technology, CashBox has been introduced to help clients make smarter financial decisions.
“It’s a way of helping everyone make smart financial decisions. CashBox is saving made easy. We didn’t want the saving process to be done like the traditional way most people are used to. With the help of technology which we heavily rely on, it has helped us achieve a lot and even do a lot more in the future,” said Aigbogun
Aigbogun said that getting support from people around him to cue in into his dream was a setback for him, not until he faced the reality of going alone before he could have a successful way out.
“At our early stage, there was problem of funding and how we could get help from the networks around me. I used to have so many meetings with prospective investors that never yielded anything. It used to be so frustrating. So instead of all the many meetings, I channelled my energy towards our product and that has yielded so much more,” he said.
“Initially, the problems we used to face was waking up to so many errors with our app and complaints from customers; that is an experience that I wouldn’t forget. We had a lot of errors going on, people couldn’t save and the app was having issues. My team and I didn’t sleep for almost like 48 hours till we resolved the issues. This happened in our first year though and we immediately put in measures for it never to happen again.
“People were initially scared of CashBox, especially our first six months in operation, but right now that’s no longer a worry for us. Our presence online is very visible and they see so many reviews from users saving with us, seeing these reviews gives new customers confidence in us and it makes us happy that we are doing the right.”
Aigbogun also said that Cashbox, having entrenched its presence in the Nigerian financial business environment, has come to stay as Nigerians are finding it easy to now save their money online.
“We have clients all over Nigeria. As long as you have a smart phone and internet, you can save with CashBox from anywhere in Nigeria and be rest assured that your money is saved with us,” he added.