Digital Banking Services of Affinity Africa expand in Ghana with Affinity Boost Integration
Affinity Africa Launches Affinity Boost: A Revolutionary Goal-Based Savings Account for Africans
Affinity Africa, a leading digital banking platform in Ghana, has recently introduced a new product designed to empower individuals and small business owners in Ghana – the Affinity Boost goal-based savings account.
Empowering Savings with Flexibility
Affinity Boost is a savings account tailored specifically for individuals and small business owners, with features that cater to their unique financial needs. The account allows customers to set specific savings goals, helping them plan their financial objectives more effectively. Users can then select the duration for which they want to save, bringing structure to their savings plan.
One of the standout features of Affinity Boost is its flexible top-up functionality. Customers can add extra funds at any time or set up automated transfers, offering convenience and adaptability to irregular income patterns. This feature makes it an ideal choice for those who may experience income uncertainties.
Competitive Returns and Hybrid Access
Affinity Boost offers competitive annual interest rates, making savings more rewarding for its customers. The account also features a hybrid access model, combining online/mobile app usage with offline agents who meet customers in markets and workplaces. This hybrid approach facilitates trust and financial inclusion without the need for travel to bank branches.
Financial Inclusion and Digital Literacy
Since its launch, Affinity Boost has seen rapid adoption. Over 80,000 customers have joined, with nearly 90% opening their first-ever bank account. Around 60% of these new customers are women from the informal economy, a traditionally underserved group. Moreover, more than half of customers who started with Affinity's agent network later transitioned to using the mobile app, indicating growing digital literacy and accessibility.
A Comprehensive Banking Experience
The broader Affinity digital bank platform offers other value-added features such as no monthly fees on accounts, 24/7 banking access, bill payments, money transfers between mobile money and banks, and loans with high repayment rates. These additional features complement the savings experience for customers.
Customer-Driven Innovation
Affinity Boost is a direct result of Affinity listening to the voice of its customers and building products that cater to their needs. Tarek Mouganie, Founder and Group CEO of Affinity Africa, stated that the company remains committed to designing banking products that serve the needs of Africans. Abdul-Jaleel Hussein, CEO of Affinity Ghana, also stated that the product was built in response to customer feedback.
The suite of products offered by Affinity Africa includes Affinity Daily, Affinity Growth, and Affinity Future, expanding its suite of transactional and high-yield savings accounts with Affinity Boost. The app features an intuitive and transparent dashboard for savings progress, as well as a simple interface for daily tasks like payments and deposits.
In summary, Affinity Boost stands out for its combination of flexible, goal-based savings, competitive returns, and an inclusive hybrid model connecting offline convenience with digital sophistication. This innovative product is empowering individuals and small business owners in Ghana to save effectively despite income uncertainties.
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