As the Nigerian Fintech space continues to grow in innovation & funding amidst continuous uptight regulations, Fundall, who launched in October 2020 recently acquired a Microfinance Bank, to enable the company to expand its offering within the financial services industry as it continues to build what they term “the Revolut for Africans”.
The fintech startup wants to allow Nigerians to enjoy wholesome financial services without having to sign up on multiple platforms, risk their security, or bother about transaction charges when moving funds from one platform to another.
With an overall vision to help Nigerians manage all their money from one platform, Fundall has just relaunched its Lifestyle Card; a card designed to help users take control of impulsive spending and help them spend within a budget.
More often than not, people start each month with great intentions to spend according to a budget but eventually find themselves making mindless purchases and using the ‘problem no dey finish’ phrase as justification to escape remorse. When in fact they soon face an almost empty bank account and start looking forward to the next payday only to run the same cycle again.
The Fundall Lifestyle Card works just like a regular bank card, however, better as it allows users to sync their card with a budget that can be created on the Fundall app. Users simply fund their card with the exact amount budgeted for an expense category and rest assured that they are only able to spend the allotted amount per time using the card.
The card also helps reduce the risk users could suffer from a card loss or the card being hacked into via an unprotected website. This is because the card is not directly linked to the user’s main account balance, hence users can only spend the amount preloaded on the card.
How does the Fundall Lifestyle Card work?
Anyone can quickly open a Fundall account as of today from the web app or smartphone using the app for iOS or Android. From there, the user fills in their personal information for verification and onboarding. This generally takes less than 3 minutes to complete after which the user can immediately create a budget on the app and also request the Lifestyle Card.
Upon request, the card is delivered to the user between 7 – 10 working days and can be activated at any ATM point. Once the user activates the card and sets their security PIN, the card is set for usage and can be funded from the app.
With the Fundall app and its Lifestyle Card, budgeting and managing excessive spending becomes a no-brainer.
