Ghanaian company Affinity Africa launches "Boost" service, enabling users to generate income from their savings.
Affinity Africa, a fast-growing fintech startup based in Ghana, has announced the launch of a new service called Affinity Boost. This innovative goal-based savings account is designed to help individuals and small business owners accelerate their financial goals.
The launch of Affinity Boost expands Affinity's suite of transactional and high-yield savings accounts, which now includes Affinity Daily, Affinity Growth, and Affinity Future. Each account in Affinity's suite offers a range of tenor and return combinations tailored to meet different financial needs and customer profiles.
Abdul-Jaleel Hussein, CEO of Affinity Ghana, stated that Affinity Boost was built in response to listening to the voice of customers. It aims to provide an option for customers to add more money to their yield-generating accounts when they have extra cash.
Affinity Boost offers competitive annual interest rates to users. Customers can set specific savings goals with Affinity Boost and choose a fixed period of time to grow their money. The product introduces a top-up functionality, allowing users to add extra funds at any time or set up automated daily, weekly, or monthly scheduled transfers.
The funds raised earlier this year by Affinity will be used to expand the company's reach and move into new markets, as well as to launch new products like Affinity Boost. Affinity Africa, formed in 2022, recently secured US$8 million in an oversubscribed seed round.
Affinity Boost is part of Affinity's ongoing effort to reimagine digital banking in Africa by offering inclusive, flexible, and high-yield financial products. The platform provides affordable and accessible financial services to individuals and MSMEs across Ghana.
With Affinity Boost, users can top up funds to grow their money faster. It offers users a way to earn interest while saving towards goals and choosing flexible tenors. Affinity Boost is designed to help individuals and small business owners accelerate their financial goals by earning competitive returns.
Affinity offers a full suite of financial services, including personal and SME accounts, savings, payments, money transfers, investments, and loans. As a fully regulated, branchless digital banking platform, Affinity is committed to delivering a seamless banking experience to its customers.
The launch of Affinity Boost marks an exciting step forward for Affinity Africa. The company continues to innovate and develop products that meet the unique financial needs of its customers in Ghana and beyond.
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