PennyTree, a Nigerian fintech startup, has released a financial lifestyle app called Penn Rules. The use of this app is to promote healthy financial habits in Nigerians. Penn Rules is said to make financial discipline achievable and “fun.”
Penn Rules users get to merge their savings culture with their lifestyle so they can develop a saving habit that works for them, consistently. Users are enabled to save money as they get paid as well as save while spending.
Savings culture is a topical issue as many individuals experience obstacles in keeping consistent savings; and so PennyTree aims, with this app, to ease the entire process.
Ayo Ogunlowo, co-founder and president of PennyTree, made a statement on this development; “We are currently at a level where savings and wealth building are characterized by setting debit reminders and locking funds away in digital vaults. We are making this more fun and enjoyable by building an affinitive ecosystem; creating a clan of financially savvy customers who would automate wealth as they live their lives.”
The application is currently available on both Apple’s App Store and Android’s Playstore. Ogunlowo further disclosed that the app launch is controlled, and still in its early stage, and open to feedback.
“This is to ensure that early adopters experience the gamified digital lifestyle platform in its early stage (Minimum Viable Product), giving feedback while continuously improving,” he explained.
Ayo also explained that they made this move in a bid to ensure they understand their customers, implement feedback, roll out new features and scale their architecture to accommodate a bigger customer base.