Firm launches app for personal finance, financial social network
With the ever-devastating risk of being defrauded or scammed, Xerde Limited launches TUDO, the mobile app that insists on breaking financial boundaries in a very secure and social form.
The free app takes a completely fresh look at the way people will manage their finances and reach their financial goals in the future. It offers the opportunity to create a social network by allowing users to publish their set financial target on its platform. This feature helps other users see the target and choose to contribute towards reaching the goal.
TUDO, has a savings plan which is inclusive of target savings, periodic savings and locked savings. The app offers itself as a social media platform for reaching a financial milestone.
Chief Executive Officer at Xerde Limited, Khadijat Abdulkadir in an address states that “The main objective of TUDO is to disrupt the current financial ecosystem. In the financial space where you have the regular banking and savings app, there is always this secretness which is the opposite if the social media space which brings everyone together.
“The social media space has a network effect that gives users a reason to stay longer on the app, make connections and influence others to join in. TUDO is bringing this network effect from social media into the financial space. What we are trying to do is disrupt the financial space by making it a social financial space.”
Head of IT, Linda Okore in a statement adds that “TUDO is offering users the power to reach financial goals as they would do regularly but this time with their friends. You have the opportunity to create goals for yourself which your friends can be a part of and support you but more than that, also collective goals with your friends.
“As humans, when we collectively work towards something, we are more activated, excited and we tend to do the most. TUDO helps to push the power of collectivity and means to reach a goal even faster.”
The app’s group savings platform can monitor the inflow and outflow of funds thereby making group members accountable for their spending and giving the opportunity to take immediate preventative steps to minimise the risk of getting into debt and being defrauded.