Halo Financial Services Unveils ‘Ajo’ Platform To Promote Savings Culture

Halo Financial Services Ltd., a fintech start-up, has launched an innovative platform "Ajo" into the Fintech space to enhance savings culture among Nigerians.

Speaking at a media roundtable on Wednesday in Lagos, the company’s Chief Executive Officer and co-founder, Chidimma Onyeokoro, said that the ‘Ajo’ platform would enable Nigerians to save money seamlessly.

Onyeokoro said that the innovation would enable communities provide efficient and prompt financial services to their members.

“Nigerians have always understood that we progress faster when we do things together.

“From traditional, groups savings schemes like Ajo, to communities putting money together for community development projects, even friends pooling resources to help one of their squad.

“There’s strength in numbers. We are using technology to harness that strength to drive wealth creation for individuals through their communities.

“Trust is the bedrock of all financial services.

"By leveraging existing trust networks, Halo will be able to reach more people with the products, tools and knowledge to meet their wealth creation goals,” she said.

According to her, each community is composed of people with defined membership and identifiable leadership.

She said that the company had linked trade associations, cooperatives, social clubs, unions, old boys and girls associations, among others to the dedicated platform.

Onyeokoro added that the community members would be able to leverage on the strength of their collective contributions for enhanced financial returns based on their financial commitments.

She noted that the organisation, Halo Financial Ltd., has two operational licenses.

“We have a micro finance bank license and an asset management license.

"This allows us to offer a full spectrum of financial services from basic banking to sophisticated investments.

“It also means that we are regulated by both the Securities and Exchange Commission and the Central Bank of Nigeria, so our risk management and corporate governance is very rigorous," she said.

She maintained that the new innovation was offering community members a multi-channel access through technology.

“Fintech space in Nigeria is extremely competitive, so we have built a team of dynamic professionals with a deep understanding of market realities.

”And more importantly, it possess the right skills and experience that will help communities and their members navigate the financial landscape and reach their goals, “Onyeokoro said.

The event was attended by the organisation’s Chief Growth Officer and co-founder, Nnenna Onyewuchi; Chief Investment Officer, Kunle Akintunde; Managing Director, Halo MicroFinance Bank, Eyo Eyo and Chief Technology Officer, Tomiiwo Fakinlede.