Sparkle, a digital ecosystem, was recently launched in Lagos. It aims to offer an all-inclusive service to Nigerians in sectors such as lifestyle, financial, and business support.
The Central Bank of Nigeria has granted Sparkle the license it needs to provide banking operations to Nigerians. It promises the opportunity to experience a world driven by data.Its founder is none other than Tech Investor and former Chief Executive Officer of Diamond Bank, Uzoma Dozie. Mr. Dozie has always been involved in conversations about the use of technology in broadening the reach of the financial sector. Before Sparkle, he launched TechFest in 2018 and is the brain behind Tech Turks, his online TV show that spotlights entrepreneurs.
Sparkle promises a data-driven platform that offers extensible payment options and savings which will give its users control of their finances and will complement their lifestyle. With the launch of the mobile app which is available on android and iOS platforms, Sparkle emerges at a very advantageous time in Nigeria with data showing that 79% of the population has access to mobile services.
A large part of Nigeria’s close-to-200-million citizens are young, tech-savvy, and very active on social media. Businesses rely on social media to market their products and services to Nigerians, and Sparkle can take advantage of the current state of things with government restrictions on economic activities forcing a rapid adoption of digital banking platforms.
Mr. Dozie had this to say on the day Sparkle was launched: “Sparkle will be transformational for Nigerians across the globe and I am hugely excited to be launching it today. Sparkle is redefining Nigerian commerce by merging financial services with a seamless lifestyle solution. We are removing barriers using technology and data, driving inclusion at scale. In doing so, we are empowering Nigerians to fulfil their potential, democratizing access to valuable solutions for both business and personal needs. We are working with global partners to unleash freedom, flexibility and transparency in Nigeria. We are helping to drive forward the growth of Nigeria’s budding entrepreneurs and individuals. Join us to make history as we enter the future of commerce and look towards this exciting phase of growth.”
Sparkle’s users will enjoy a one-account multiple-wallet system. They will be able to monitor their spending trends section by section. Sparkle users will enjoy a 24-hour support from Indy, a chatbot developed for that purpose. Other services include split payments for products and services rendered, including public utilities. Sending and saving money can be done between sparkle users with or without their local bank accounts. The app comes with a tool called Sparkle stash which will assist users to improve their savings culture.
Adhering to the principles of financial inclusion, Sparkle has become a part of Women’s World Banking and will be championing the cause for all people groups in the world’s developing markets. Sparkle is also a member of Open Banking Nigeria in its bid to increase financial inclusion and forge partnerships in the financial services sector.
At Sparkle, the core values are transparency, freedom, simplicity, inclusivity and personalisation. Customers will benefit from Sparkle’s partnerships with Microsoft, Price Water house Coopers Nigeria, and VISA to revolutionise business and put back control in the customers’ own hands. The partnership aims to provide expert support in cloud computing, APIs, machine learning, data science, as well as tax and financial advisory services.
