African Startups

Nigerian fintech startups PiggyVest and Cowrywise are scaling up to become digital banks

Earlier today, users of Nigerian online savings and investment platform PiggyVest received emails introducing them to “NUBAN Account Numbers for PiggyVest”.

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The new feature allows users to fund their PiggyFlex accounts via a dedicated bank account number from Providus Bank. The PiggyFlex Account, launched in June 2018, is a sub-account where all interests earned on PiggyVest are paid to users.

According to the mail, users can now fund their PiggyVest accounts “directly with Internet banking, USSD and other bank transfer channels (without the need for a debit card.”

They can also accept transfers from family and friends as well as payments for services directly into their PiggyFlex accounts which can be accessed anytime, at no charge. Continue reading…

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