Halo Financial Services Limited, a fintech start-up has launched an innovative approach to offer financial solutions to communities and grow their money.
According to the firm, focusing on communities will enable it to assist more Nigerians, especially at the grassroots level to grow their finances.
Halo defines a community as any group of people with defined membership and identifiable leadership, which includes; professional or trade associations, cooperatives, social clubs, unions, even old boys and girls associations and more.
Speaking at a media roundtable to introduce the company, the Chief Executive Officer and co-founder, Chidimma Onyeokoro, disclosed that Halo enables communities to provide financial services to their members.
According to her, community members are able to leverage the strength of their union for better financial returns.
She said trust is the bedrock of all financial services, adding that by leveraging existing trust networks, Halo will be able to reach more people with the products, tools and knowledge to meet their wealth creation goals.
Onyeokoro said with a microfinance bank license and an asset management license, it offers the firm a full spectrum of financial services from basic banking to sophisticated investments, while regulations by both SEC and Central Bank of Nigeria (CBN), ensure the risk management and corporate governance are very rigorous.
Noting that the company is keen on serving as many people as possible, she explained that Halo offers multi-channel access, such as an app for those comfortable with technology, while the mass market customers can transact via a nationwide network of agents, and high net worth communities can access a managed service.
Onyeokoro stated that the fintech space in Nigeria is extremely competitive, noting that to meet Halo’s goals, they have built a team of dynamic, knowledgeable and committed professionals with a deep understanding of market realities, who possess the right skills and experience to help communities and their members navigate the financial landscape and reach their goals.
Also, the Chief Investment Officer, Halo Capital Management, Kunle Akintunde, explained that the firm offers banking, investment; lending and other financial services to formal and informal communities to enable them to offer personalised savings and investment products to their members.
“Providing financial services to individuals through their community, whether formal or informal, allows us to deliver higher returns on savings, lower barriers to entry for larger value investments and provide financial literacy education at scale,” he added.
