5 saving apps transforming personal finance management in Nigeria

By Delisha Fernandes

October 23, 2023

Debit Card
Finance App
Financial Stability

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Saving has become an invaluable financial tip that everyone who desires financial stability works with. It is increasingly promoted as one of the many ways to grow your income and build stable wealth while achieving long- and short-term financial objectives.

In an era of rapid technological advancements, managing your finances has never been easier, especially in a country as dynamic as Nigeria. Gone are the days when you had to rely solely on pen and paper or visit a physical bank branch for every financial transaction. Today, the world is at your fingertips, thanks to the proliferation of finance apps that have reshaped how we handle money.

Here are 5 saving apps transforming personal finance management in Nigeria:

ALAT by Wema

Powered by Wema Bank, ALAT is Nigeria’s first fully digital bank providing end-to-end banking services through an app and the web. ALAT is designed to help individuals better manage their money, schedule transfers, save and pay bills automatically, take collateral-free loans, get their bank card delivered anywhere in Nigeria and save with exciting saving options.

Cowrywise

Cowrywise is a FinTech startup licensed by the Securities and Exchange Commission (SEC) of Nigeria as a fund manager. The company is digitizing the investment management industry in Africa and democratizing access to savings and investment products for the growing population of the underserved African middle class and millennials.

Kuda

Kuda is a FinTech company that aims to make financial services more accessible, affordable and rewarding for every African. The platform has built a money app for Africans worldwide, giving them a better alternative to traditional finance by delivering services including free money transfers, smart budgeting, investments and instant access to credit through digital devices.

Piggyvest

Piggyvest is a platform that helps individuals and businesses manage their finances effectively – save and invest with ease. The platform enables Nigerian debit card holders to save small amounts of money frequently with minimal effort. They automate the process of saving tiny amounts daily, weekly, or monthly, and then allowing you to withdraw for free on only set withdrawal dates, thereby practically making saving more possible by eliminating the temptation to withdraw.

Rise

Rise gives Nigerians access to foreign investment opportunities through products such as Fixed Income, US Real Estate, and US Stocks. Rise sets itself apart from other investment platforms as a dollar fund manager and a one-stop shop for dollar investments. Its mission is to be the product that brings the best investments from around the world to everyone in Africa and beyond to create wealth for the continent.

Also read: Wealth Management & Private Banking Systems Report Q2 2024

October 23, 2023