This platform provides instant, free digital banking accounts for transacting, saving, and borrowing. Users can manage payments, schedule transfers between mobile money and bank accounts, and access instant loans. The service offers various savings products that yield interest, alongside robust security features for financial control.
Funding
Funding not disclosed
Founders
Product
Problem
Individuals seeking accessible financial services often encounter high transaction fees and limited access to credit facilities. Traditional banking models can also present barriers to entry for those without established credit histories or access to physical branches.
Solution
Affinity provides a digital banking platform offering free personal accounts for seamless transactions, savings, and borrowing. Users can open accounts instantly via mobile, with no associated fees for transactions or account maintenance. The platform facilitates free transfers between mobile money and bank accounts, bill payments, and savings with competitive interest rates. Additionally, it offers instant loans based on a user's credit score, with options for longer-term personal and business loans.
Target Audience
The primary users are individuals seeking a no-fee digital banking solution for daily transactions, savings, and access to credit, particularly those in Ghana.
Features
- Instant, fee-free personal banking accounts accessible via USSD or mobile app.
- Zero transaction fees for transfers to mobile money and bank accounts.
- Savings accounts offering up to 10% annual interest.
- Fixed deposit accounts with interest rates ranging from 14.5% to 18.5% for 91, 182, and 365-day terms.
- Instant loan access based on credit scoring.
- Bill payment functionality and recurring payment scheduling.
- 24/7 customer support via WhatsApp and telephone.
- Robust security measures for data and fund protection.