Sparkle has launched officially in Nigeria and has been granted a banking licence from the Central Bank of Nigeria (CBN). The fintech offers a digital ecosystem, providing financial, lifestyle and business support services to Nigerians across the globe.
The digital bank was founded in August last year by tech investor and financial inclusion advocate Uzoma Dozie, the former CEO of Diamond Bank. Uzoma currently fronts an online TV show called Tech Turks and launched TechFest in 2018 in Lagos.
Sparkle to be ‘transformational’ for Nigerians across the globe
Chief Sparkler, Uzoma Dozie, said: “Sparkle will be transformational for Nigerians across the globe and I am hugely excited to be launching it today. Sparkle is redefining Nigerian commerce by merging financial services with a seamless lifestyle solution. We are removing barriers using technology and data, driving inclusion at scale. In doing so, we are empowering Nigerians to fulfil their potential, democratizing access to valuable solutions for both business and personal needs.”
“Sparkle is redefining Nigerian commerce by merging financial services with a seamless lifestyle solution. We are removing barriers using technology and data, driving inclusion at scale.
“In doing so, we are empowering Nigerians to fulfil their potential, democratising access to valuable solutions for both business and personal needs,” he said.
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.
Sparkle’s offering includes a mobile app that provides customers free access to one account that offers multiple services and different wallets.
App users will be provided with visibility over spending patterns, with a detailed breakdown of payments by category. 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 is partnering with Visa, Microsoft and PwC Nigeria. These 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 central bank.