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Reviews

Review of the V bank version 3.0: Nigeria’s first intelligent digital banking app

V Bank has upgraded its application to offer new services to its users and improve operational efficiency.

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Review of the V bank version 3.0: Nigeria's first intelligent Digital banking App

Nigeria’s fully digital bank, V Bank, a product of VFD microfinance bank Launched March 8, 2020, has upgraded its application to offer new services to its users and improve operational efficiency.

The new VBank app will enable users to securely access their accounts to automate recurring bills, manage multiple cards from different banks, send and receive funds using a unique QR code, track spending, generate virtual cards for online payments, buy airtime and data, fix deposits and make free transfers, all within a sleek, responsive and easy-to-use interface.

This review explains how to download and use the new V bank version 3.0 app. During the review, we took into consideration the design, user experience, usability, new features of the App, and how it functions well.

The device used for the review: Apple iPhone Xsmax

Getting started with V bank

These are the following information required for successfully registering as a user on the V bank app:

  • Sign Up by downloading the V bank app and creating your account
  • Input your BVN-linked phone number on the app and date of birth
  • Take a photo with a white background to Validate your identity
  • Verify your identity by inputting your BVN number on the app or use your existing bank account.
  • Finally, a signature for validation and a four-digit pin password.

What’s New on the V bank App?

The new app, version 3.0 comes with some new cool features that are rather unique. Let’s talk about all the new features and our experience while setting up and performing different transactions.

New V bank Interface

After you log in or sign up, the first thing you see is the V bank dashboard and it is pretty cool. The UI and interactions are super neat. The use of colours and components under the analytics section is simple and clean. This is perfect!!

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New V bank interface

Send and receive money using Proximity payments and QR payment features

V bank users can now send or receive money easily through the proximity or QR payment features. You can pay or receive money from a nearby V bank app user using the proximity payment feature. Click on the proximity payment icon and start searching for a nearby user to pay while receiving payment wait for the user to start searching.

Recipients using the proximity payment feature must have their phones at close range.

 

Another interesting way you can make a transfer easily is by scanning the QR code of the user receiving the payment.

To receive a payment, each user must generate a QR code which will be used to scan while making a transfer.

Jaiz bank

The QR payment feature is actually unique as it enables users to make or receive payments from near and far locations. The only requirement is to have the QR code to scan for payment.

QR Code

Intelligent Mobile Top-up feature

We always want to send airtime or data to people as a surprise and most times we have the mobile number but don’t know the network provider. The new V bank app comes with an intelligent mobile top-up feature that detects each network provider automatically with just the phone number. You don’t need to call the recipient asking for his network provider, the app does that for you.

Airtime top-up

Cardless Withdrawal

It is not always convenient and secure to carry a wallet or purse with ATM cards. You can make a careless withdrawal without your ATM cards using the V bank app by generating a code. The app also helps you in locating the nearest ATM locations for your careless withdrawal. This feature is convenient and more secure.

Transfer funds to multiple recipients at once

Imagine how tired Don Jazzy will feel after paying each follower that won his giveaway separately. It actually is exhausting but the V bank eliminates that stress with the new multiple beneficiary feature. You can send money with just one transaction to up to 5 people.

Multiple transfer feature

Track your spending

The Analytics dashboard shows a beautiful interface with total inflow (payment made) and total outflow (Amount withdraw or debited). This gives you a clear pictorial overview of your income and expenses.

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Under categories, users can track their spending such as online/POS, utility, mobile, family. work, lifestyle, food, utility, transport, and more on a monthly basis. This feature enables you to Identify bad spending habits and make adjustments to improve your finances.

Overview of income flow, expenses, and budget

Manage Multiple cards from different accounts

One of the App’s latest features is managing multiple cards from different accounts.

We requested a new virtual card which cost 500 Naira ($1) for a new one and it expires in three years. You can also request and activate V bank physical card using the app. The new feature enables users to add ATM cards from different bank accounts on the app and all the debit cards can be managed using the V bank app under the cards section.

Managing your cards section

Automate Recurring Transactions

The new feature allows users to automate recurring transactions weekly, monthly, or on a yearly basis depending on the type of service requested. You can easily schedule payment for your DSTV bill on a monthly basis.

Other features you would be interested in

  • Make free transfers i.e there are no hidden transfer/ transaction fees.
  • You can open a target savings account, fixed deposit account, or a joint account using the V bank App.
  • Request a loan
  • Chat with a customer care representative using the app
  • Earn money when you invite your friends
  • Become a Veelager and earn profit

Final thoughts

The new version of V bank is well designed for both new and existing users of digital banking. The app enables users to easily navigate and perform seamless transactions. The design interface and user experience make it a great option for anyone looking for a perfect digital bank.

With the rise of technology, everything is possible with just a few clicks on the mobile phone. In the next version, we expect to see a voice-activated virtual assistant feature on the app.

The new V bank 3.0 app comes with innovative and sophisticated digital banking features which will help V bank users manage their money effectively, spend wisely and perform transactions easily with guaranteed security.

VBank 3.0 is available as V by VFD on the Play Store and Apple store. For more information, visit vbank.ng

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Reviews

Book launch: Built for the Storm by Bridget Oyefeso Odusami

‘Built for the storm’ is a must-have manual for those experiencing any kind of life adversity.

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Bridget Oyefeso Odusami launches new book, Built for the Storm. In this book, the author takes us on a journey through the process of pain and healing. Using real-life experiences, she talks about the scars that remain afterwards, and how to live with these scars.

What first catches your attention is the title of the book. It emphasises the importance of a name – her name, “Bridget” is an Irish name which means the “Enduring one” – a recurring theme in her story. Bridget was named strong and so was her book. The book takes us through how to change your point of view when life seems hopeless and figure out what you can do to make everything better and find happiness.

‘Built for the storm’ is the ultimate game-changer. Step-by-step, readers are empowered and encouraged so that you can turn any setback into a major comeback while understanding that in life, there are times, seasons and reasons.

In this inspirational, but practical self-help book for women and men, Bridget Oyefeso-Odusami talks at length about her husband’s illness and how she copes. Bridget talks about several issues that pop up when the unexpected happens. She talks about her realisation that in caring for the sick, she herself needs help, needs healing to crawl back to life; to show up despite it all.

Bridget is also conscious of the fact that other ears are tuned to her musings and are likely to glean a few truths from her journey; so she uses anecdotes, analogies, even Bible verses and stories to season her musings. She uses her scars and their reminders to tell us about life, about love, about being a wife, a mother, a career woman and one determined to be herself regardless of her circumstances.

Built for the storm is a must-have manual for those experiencing any kind of life adversity. The book tells the story of how love is sweet but can be painful; love forgives, love keeps “no records of wrongs” but more importantly, love grows and when it is rooted in abiding faith, it blossoms like a rose among thorns.

Built for the storm comes to us during a time of deep unrest, a time when our empathy for others is so needed to guide the choices we will make. This book will open hearts. It teaches readers how to shift their mindset and do the internal work to discover the divine purpose of obstacles and how to position them to become their stepping stool for success. You can overcome any adversity and land back on top! There is a reason that you are still alive. You were built for the storm.

Built for the Storm is a searing and pain-filled musing on what can happen when life throws you a curveball. It is a simplified workbook and a sobering reminder that our life can seem no more than a lottery and winning or losing is often up to chance and fate and God, if you believe in him. And for those who believe in God, this is a book that will strengthen your faith and also try your faith beyond measure. This book will stir emotions in you that you did not realize you were capable of. This book will test your faith then make it strong.

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This book is about hurt and healing, adversity and resilience as well as grace under pressure. ‘Wound’ appears 24 times, ‘wounded’ appears 9 times while ‘wounds’ is used 9 times. Reading through, what becomes increasingly obvious is that Bridget has taken vicious blows from life and has been wounded over and over again but through prayer and faith and the kindness of friends and strangers as well as a huge support system she has healed but the scars remain.

That is a summation of the most important lesson from this sobering and beautiful book; scars can be beautiful things and we need not be ashamed of them. Built for the Storm illuminates God’s faithfulness in the life of the author as He orchestrates times and seasons amidst the storms, setting people and situations in place to help her journey towards healing and purpose. Like a line in the book says, “this isn’t where your story ends… Seasons come, seasons go but God is constant.”

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Blurb

Buy what? Dangote vs BUA Cement

Dangote Cement has a market capitalization of N3.65 trillion, while BUA posts a N2.49 trillion capitalization, but does size win?

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I want to review the performance of the largest quoted companies in Nigeria.

On the Nigerian Stock Exchange, they don’t come any bigger than Dangote Cement (Dangote) and BUA Cement (BUA). Only MTNN stands with both cement companies in terms of market capitalization. Dangote and BUA are both blue-chip companies, in the same sector and both enjoy federal import protection, they also both serve a local market with huge demand for cement.

Which is a better investment? Let us assume I have N100,000.00 (One Hundred Thousand Naira,) which should I buy? Let us review both stocks with FY 2020 results they posted. For consistency, I am going to use my trading view terminal numbers.

READ: Dangote Cement joins MTN in the trillion-naira club, as 2020 revenue surpassed N1 trillion

Market Capitalization

First, we talk about capitalization, (Market cap is the number of shares issued x market value of shares ). Dangote Cement has a market capitalization of N3.65 trillion, while BUA posts a N2.49 trillion capitalization. Does size win? Dangote is bigger? Not yet!

Market Price

With N100,000 I can buy about 465 shares of Dangote at N215 a share and 1,360 shares of BUA at N73.50 per share. Is BUA cheaper? do we have a winner? Not quite. Let us dig deeper.

Dangote Cement posted a Net Income figure of N276 billion, if we divide this earning by the number of issued shares which is 17 billion, we get an Earnings Per Share (EPS) of N16.14, so every share of Dangote Cement earns (not pays) the investors N16. Similarly, the Earning Per Share of BUA is N2.0

READ: BUA Cement loses N162 billion in market value in a week

Thus when I buy Dangote Cement N215 per share, I am buying 16 times the earnings of Dangote. We can simplify this by simply comparing the price I pay per share of Dangote to the EPS of Dangote (Price to Earnings Ratio), thus I invest my cash of N215 to buy 16 times the earnings of Dangote, thus the Price to Earnings Ratio of Dangote is 13.31 (P/E). Using the same calculation, the price for each earnings of BUA (the P.E.) is 35.38. This means even though I am paying more cash for each share of Dangote, I am paying less to buy the earnings of Dangote, thus Dangote is cheaper than BUA.

So our first milestone is reached, we have used the Net Income, Market Price, and Number of Issued shared to get the Earnings Per Share, we have then determined what amount of earnings we are buying to determine which stock is at a bargain.

READ: Oba Otudeko’s stakes in Firstbank and Honeywell are worth over N10 billion

What else?

Let us look at the earnings that will be paid in cash. Remember, Earnings, is just the Net Income of Dangote, we as equity holders have the opportunity to share in any portion of the Net Income.

Dangote in 2020 paid out from earnings N272.69 billion as dividends, this translates to about N16 per share or in terms of returns 7.44%. We get this Dividend Yield return by comparing the dividend paid to the market price per share (D/P). BUA also in 2020 paid out N59.26 billion as dividends from earnings, this translates to a dividend yield of 2.81%.

So, if I invested N100,000 in shares of Dangote Cement, I would earn a cash return of 7.44%, if I did the same with BUA I would earn a cash return of 2.81%.

READ: Jumia: In search of the elusive break-even sales

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Let us go a bit deeper…

When you buy a stock, you are buying into the earnings and cash flow. Dangote Cement in 2020 earned N276 billion and paid N272 billion as dividends meaning they retained about N3 billion for that FY while generating over N248b in Free Cash Flow. Similarly, BUA earned a net N71.52 billion, paid out N59 billion in dividends, retained N19 billion but posted a negative Free Cash Flow of (N95.49 billion). Should BUA cement have simply used that cash to finance working capital rather than paying it as dividends? Perhaps. Let us speak more of Cash flow.

Cash retained is cash not paid to you the investor. You have to ask how well your company is utilizing that cash retained. Should it all be paid out as dividends? Or retained in the company to fund expansion and growth?

READ: Three things Nigerians can learn from Warren Buffet’s latest letter

Look at it this way, if Federal Government Bonds were offering a Yield of 15% and we see that Dangote is offering a yield of 7.44%, then as shareholders you should demand that Dangote pays more cash to you to allow you to invest in FGN bonds because you get a higher return (at lower risk). The point is any company retaining cash or paying cash at a lower yield than the market is hurting the investors, who are missing the opportunity of investing higher elsewhere.

Let us score both company managers by how well they have managed the revenues and capital of the companies

 

 Return on Assets %Return on Equity %Return on Invested Capital %EBITA Margin %Net Margin %Debt to AssetsLong Term Debt to Assets
Dangote Cement14.6231.2126.9244.0424.310.240.08
BUA Cement11.1519.1215.3541.8732.030.360.23
FY 2020

Across the board, the management of Dangote Cement has done a better job when compared to BUA Cement in managing the assets of the company. Dangote Return on invested capital is higher with a much lower recourse to debt and of course a higher FCF number.

Overall, on Earning, Returns and Efficiency, it appears Dangote Cement posts better fundamentals…

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Disclaimer

There is a wealth of information that should help decide whether you should buy a stock or not and how long you can hold on to it. Our recommendation is based on the information we currently have and is wholly the opinion of the writer

This article is an investment guide and as such you should conduct extra analysis before deciding whether to buy, sell or hold a stock. The decision to buy, sell or hold a stock is solely yours.

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