Sparkle is a digital ecosystem providing financial, lifestyle and business support services to Nigerians across the globe, has launched services after being granted a banking license by the Central Bank of Nigeria.
Sparkle offers comprehensive support for individuals, including flexible payments, savings and analytics to provide greater freedom, flexibility and control over finances and lifestyle once and for all.
Powered by data and technology, Sparkle is launching a mobile app – available for iOS and Android – giving customers full and free access to one account that offers multiple services and different wallets.
Sparkle’s users will be provided with visibility over spending patterns, with a detailed breakdown of payments by category.
Tools such as Sparkle Stash, a savings tool aimed towards specific goals, are included.
Users will also have the ability to split payments and bills, make utilities and bill payments, as well as send and receive money in the Sparkle network and with other local banks. Customers will also have access to Indy – a 24/7 financial buddy and customer services chatbot.
Sparkle was founded by tech investor and financial inclusion advocate Uzoma Dozie, the former chief executive officer of Diamond Bank and it was founded on the values of trust, transparency, freedom, inclusivity, simplicity and personalization.
Sparkle is partnering with VISA, Microsoft and PwC Nigeria to achieve its vision of redefining Nigerian commerce. The partnerships will provide industry leading expertise in APIs, cloud computing, data science, machine learning, tax and financial advisory services for the benefit of Sparkle’s customers. The services offered by Sparkle are all licensed by the CBN.
The launch of Sparkle comes at a time when most of Nigeria’s population (79%) have mobile connectivity, with 39% having access to mobile broadband connections.
This young and growing population – currently over 195 million people are also digital natives, with social networks forming part of everyday life.
The impact of Covid-19 continues to be felt across Nigeria, accelerating the transition to more digitally enabled lifestyles. As such, there is a real opportunity for digital-only propositions like Sparkle to meet Nigeria’s needs, for individuals and small businesses to remain connected and thrive, both now and in the future.
Sparkle has recently joined Women’s World Banking, working to ensure greater financial inclusion for women, their families and communities in emerging markets, where Dozie was previously a Board member.
Sparkle has also joined Open Banking Nigeria, collaborating with Nigeria’s financial services industry to transform and advocate open banking in Nigeria, and to lead the way in Africa too.